REG - Roquefort Theraptcs. - Update on Sale of Lyramid

Roquefort TherapeuticsAnnouncement

04/03/2025 07:15

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RNS Number : 1850Z  Roquefort Therapeutics PLC  04 March 2025

4 March 2025

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

Update on Sale of Lyramid

 

Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company
focused on developing first in class medicines in the high value and high
growth immunology and oncology markets, is pleased to provide an update on the
binding share purchase agreement (the "SPA") signed on 1 February 2025 for the
sale of its wholly owned subsidiary Lyramid Pty Ltd ("Lyramid") to Pleiades
Pharma Limited ("Pleiades") for a consideration amount of US$10.8 million (the
"Transaction").

 

As announced on 3 February 2025, completion of the SPA is contingent inter
alia on Pleaides finalising certain in-licensing transactions and completing a
current fundraising round no later than 30 June 2025 (each a "Condition
Precedent").

 

Pleiades has now completed the in-licencing of the clinical stage PapMV cancer
and infectious disease vaccine platform and the S100A9 immunotherapy from
Innate BioSynergy (the "Pleiades Licenses"), to satisfy this Condition
Precedent.  The Pleiades Licenses are exclusive worldwide licenses for all
the registered and unregistered intellectual property rights for the PapMV and
S100A9 programs, including granted US patents for PapMV.

 

Pleiades has advised that its fundraising is progressing as expected and
whereas there can be no guarantees, based on certain indications made by
prospective investors it is confident of satisfying this Condition Precedent
on schedule.

 

The Company will provide shareholders with further updates regarding the
Transaction as appropriate.

 

Ajan Reginald, Roquefort Therapeutics CEO commented:

"We are pleased that the in-licenses have been signed, which is a key
condition precedent for the sale of Lyramid, and that fundraising is
progressing as expected. We look forward to progressing the Transaction to
completion and remain focused on executing further transactions for our other
programs in the future."

 

Regulatory Information

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

 

ENDS

 
Enquiries:
 Roquefort Therapeutics plc                      +44 (0)20 3918 8633
 Stephen West (Chairman) / Ajan Reginald (CEO)
 SP Angel Corporate Finance LLP (Broker)         +44 (0) 20 3470 0470

 David Hignell / Vadim Alexandre / Devik Mehta
 Burson Buchanan (Public Relations)              +44 (0)20 7466 5000

 Ben Romney / Jamie Hooper
 Peak IR (Investor Relations)                    +33 (0)7 44 44 15 42

 Seb Wykeham

 

LEI: ‎254900P4SISIWOR9RH34

 

About Pleiades

Pleiades is a private company developing a portfolio of novel clinical and
pre-clinical medicines and is led by Caroline Fortier, an experienced Pharma
CEO with a track-record of completing more than US$750 million in trade sale
exits to Big Pharma. Pleiades is progressing its funding discussions with
multiple institutional investors.

 

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ) is a Main Market listed biotech company
developing first in class drugs in the high value and high growth immunology
and oncology markets prior to partnering with big pharma.

 

Roquefort Therapeutics' portfolio consists of five novel patent-protected
pre-clinical anti-cancer medicines.  The highly complementary profile of five
best-in-class medicines consists of:

·    Midkine antibodies with significant in vivo efficacy and toxicology
studies;

·    Midkine RNA therapeutics with novel anti-cancer gene editing action;

·    Midkine mRNA therapeutics with novel anti-cancer approach;

·    STAT-6 siRNA therapeutics targeting solid tumours with
significant in vivo efficacy; and

·    MK cell therapy with direct and NK cell-mediated anti-cancer action

 

For further information on Roquefort Therapeutics,
please visit www.roquefortplc.com (http://www.roquefortplc.com/)
 and @RoquefortTherap on X (formerly Twitter).

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