RCS - Theracryf PLC - Chronos Integration Update

TheracryfAnnouncement

02/05/2024 07:00

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RNS Number : 9116M  Theracryf PLC  02 May 2024

TheraCryf plc

("TheraCryf", the "Company" or the "Group")

 

Update on integration of acquired company Chronos Therapeutics Limited

 

Alderley Park, 2 May 2024 - TheraCryf plc (AIM: TCF), formerly Evgen Pharma
plc, the clinical stage drug development company focussing on oncology and
neuropsychiatry, provides an update on the integration of Chronos Therapeutics
Ltd (Chronos) further to the announcements on 19(th) March and 25(th) April
2024. This update follows the acquisition, accompanying placing and results of
the Company's general meeting approving the issuance of shares and, as of 25
April 2024, the change of name to TheraCryf plc and the AIM ticker to TCF.

The following actions have taken place to date:

·    Transaction effective from 5 April 2024

·    Former Chronos shareholders received 62'291'778 shares as the first
consideration

·    Transition of Chronos to a wholly owned affiliate of TheraCryf
complete

·    Board members of Chronos stepped down as pre-agreed

·    Toni Haenninen and Dr Huw Jones appointed directors of Chronos
effective 19 April 2024

·    Email and website (www.theracryf.com (http://www.theracryf.com) )
transition complete

·    Transfer of records, technical study reports and financial systems
well advanced

 

Dr Huw Jones, CEO of TheraCryf, said

"Many thanks to the TheraCryf team for executing the transition in a speedy
and efficient way. I would also like to thank the members of the board of
Chronos for their important part in the transaction and the transition of
Chronos to become part of the TheraCryf Group.

"We strongly believe that having additional scale and a broadened pipeline of
development programmes will enhance shareholder value considerably. We are
focussed on our entire portfolio, comprising our SFX-01 programme in
glioblastoma and autism, our Orexin-1 antagonist in impulsivity and addiction,
and our atypical DAT inhibitor in fatigue and narcolepsy. In common with the
non-dilutive funding already in place for SFX-01 in glioblastoma, we are
actively seeking non-dilutive funding for our acquired programmes."

- Ends-

 

Enquiries

 TheraCryf plc                                               +44 (0)1625 315 090

Dr Huw Jones, CEO
enquiries@theracryf.com

Toni Hänninen, CFO

 Dr Helen Kuhlman, CBO
 Cavendish Capital Markets (NOMAD and Broker)                +44 20 7220 0500
 Geoff Nash / Teddy Whiley / Rory Sale (Corporate Finance)

Nigel Birks / Harriet Ward (ECM)
 Instinctif Partners                                         +44 207 457 2020

theracryf@Instinctif.com
 Melanie Toyne-Sewell / Jack Kincade

 

About TheraCryf plc

TheraCryf plc (formerly known as Evgen plc) is a clinical stage drug
development company focussing on oncology and neuropsychiatry. The Company has
a broad clinical and preclinical pipeline in indications such as
neurodevelopmental disorders, glioblastoma*, addiction, anxiety and
narcolepsy* [*orphan indications].

The Company's lead clinical asset, SFX-01, is a patented composition of
synthetic sulforaphane and alpha-cyclodextrin and has undergone clinical
trials for oestrogen-positive (ER+) metastatic breast cancer and most
recently, a Phase 1b study of the Company's new enteric coated tablet
formulation. The FDA has granted Orphan Drug status to SFX-01 in malignant
glioma. SFX-01 will be investigated initially in this indication as an
investigator sponsored study in the Netherlands funded via a grant from the
Netherlands government to the Erasmus Medical centre, Rotterdam.

In April 2024, TheraCryf acquired neuropsychiatry company, Chronos
Therapeutics Limited. The acquired assets comprise an orexin-1 antagonist
(Ox-1) in late pre-clinical development targeting impulsivity and anxiety
disorders and an atypical dopamine transporter inhibitor (DAT) also in late
pre-clinical development for fatigue, e.g. due to long COVID or multiple
sclerosis and the orphan condition narcolepsy.

The Company's strategy is to generate compelling data sets to proof of concept
and/or later phase II to partner its clinical programmes with mid-size to
large pharma. As well as a number of industry partnerships with companies,
including Stalicla, in neurodevelopment disorders and has sourced programmes
from companies such as Takeda and Shire, the Company has worked with and has
ongoing collaborations with major universities, hospitals and government
organisations such as the University of Manchester, Sapienza (Università di
Roma), Kings College London and University of Connecticut.

The Company has its headquarters and registered office at Alderley
Park, Cheshire. It is listed on AIM in London and trades under the ticker
symbol TCF. 

For further information, please visit: www.theracryf.com
(file:///C%3A/Users/MToyneSewell/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/XN44CN5I/www.theracryf.com)

 

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