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Really good to see Redx getting back to what they should be doing:- Redx to present new scientific data at ESMO 2017 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/REDX/13347011.html https://cslide.ctimeetingtech.com/library/esmo/browse/search/2iw4#2Bb5o02mE

Great news for OXB - well done folks!

Nice mention of Angle in this piece today from the FT https://www.ft.com/content/5e49e822-828c-11e7-a4ce-15b2513cb3ff

FDA have finally lifted their hold on Cel-Sci's Multikine trial https://investegate.co.uk/ergomed-plc--ergo-/rns/fda-removal-of-hold-on-ph3-trial-with-multikine/201708141231019319N/

I assume he jumped ship - somewhat ironic given that he formed one half of Redx's Audit and Disclosure Committees.

You were making statements of fact that were simply untrue or as yet unproven. If you are simply inventing stuff then please make it clear that it is just you opinion. mateyboy - "how do you suppose they are funding the research at the mo, the admin will not allow any money to be spent until all depts are paid. assume wages are still paid but buying chemicals/solvents etc will have stopped." Administrators - "The Joint Administrators’ team is working with the Companies’ senior management to ensure that ongoing projects are progressed." "The Companies’ suppliers were contacted and undertakings provided to ensure continuance of essential supplies during the administration period." mateyboy - "what was very eye watering was the possibility of investigating the ceo; shady stuff" Reality - Absolutely standard clause and applies to the whole BOD - You have stated on a public forum that there is possibly an investigation into Neil Murray and suggested something shady is going on. At best shows a lack of understanding of the process and at worst a deliberate attempt to cause even more panic and uncertainty. mateyboy - "their will be very little money left once everyone take their share" and yet you are unable to provide any evidence or justification for this statement of fact.

An interesting article here which puts a slightly different slant on things:- http://www.businesscloud.co.uk/opinion/why-redx-story-is-bad-news-for-uks-biotech-sector

Your attempts at bashing Redx are ill informed, poorly researched and poorly executed. 1) The administrators have made it absolutely clear that during the administration process they will continue to run the business and to minimise damage. Below is a direct quote from the report issued on Thursday:- "The Companies’ suppliers were contacted and undertakings provided to ensure continuance of essential supplies during the administration period. The Joint Administrators’ team is working with the Companies’ senior management to ensure that ongoing projects are progressed with a view to avoiding any negative impact in the value of the assets (in particular intellectual property assets) held by Pharma, which might otherwise arise as a result of delays in both work undertaken by the employees as well as independent testing undertaken by third parties. " 2) Can you explain how you know how much money will be left - with figures please 3) What do you mean by 'shady' and how do you know the CEO is being investigated? By whom? Things are bad enough here for existing holders without your scaremongering - stick to the facts please.

There is some good news in the report if you look hard enough. The obvious one is that it looks like the Company will indeed come out of administration as a going concern, all creditors paid and some cash in the bank. At this stage, I can't work out how much working capital they are likely to be left with but other posters here may be able to help with that. Nevertheless they will resume trading with a clean slate and still some interesting products in the pipeline. Crucial paragraph from the report is this statement from the administrators:- "The Joint Administrators' team is working with the Companies' senior management to ensure that ongoing projects are progressed with a view to avoiding any negative impact in the value of the assets (in particular intellectual property assets) held by Pharma, which might otherwise arise as a result of delays in both work undertaken by the employees as well as independent testing undertaken by third parties." What a sorry state of affairs in so many ways.

So much information in yesterday's report that it takes a couple of attempts to take it all in. FWIW, these are the points that stood out for me. 1) The Company had been trying to refinance the loan. An indicative offer had been received but it wasn't for the full amount and was dependent on Redx completing a licensing deal first. Impossible to do in the timescales required and also if they completed a deal then they probably wouldn't need the finance in any case. 2) Redx did indeed make a last ditch effort to avoid administration by offering an immediate payment of £1m but it was rejected by Liverpool CC. 3) When they went into administration they had cash in the bank of just under £2.2 million 4) In view of the overall amount owed funding from existing shareholders was ruled out and one significant shareholder would have voted down this option anyway 5) They attended ASCO and Bio International conferences whilst in administration in an effort to hook up with potential licensees 6) 2 serious contenders emerged and they had already been in discussions with both of these previously (prior to administration) 7) There were other interested parties but they couldn't complete due diligence quickly enough which just shows how long these bio deals can take 8) Redx still need to provide some data to Loxo and have been given up to 12 weeks to do this. They won't be able to come out of administration until this has happened. 9) The hourly rates charged by the administrators and their fees are eye-watering - no surprise but just think what those funds could have achieved in developing the pipeline. 10) Administrators' list of creditors and amounts seems to very roughly amount to around £17m - believe all of that has yet to be verified and it also includes approx. £9.7m grant funding. I don't know if that would have to be repaid if the Company resumes trading. The answer to that question obviously makes a significant difference to Redx's ongoing funding requirements.

Have read it once Dave but need to read it fully again when have a bit more time. Will keep any comments until then!!

Administrators need to approve final business plan from Redx management and then a request can be made to lift the suspension from trading. "A longstop date of 12 weeks from the date of the Sale Agreement has been set, during which period management will be expected to finalised a business plan. After this been reviewed and approved, the relevant forms will be deposited at the Companies Court and Companies House. Once this step has occurred, the companies will exit administration and return to the control of the management," I very much hope that the lifting of the suspension is accompanied by a full and clear explanation from the Company of exactly where they stand financially and a clear explanation of their strategy and development plans going forwards.

No, I understood your point completely, just wasn't sure I entirely agreed with all of it. The Company's strategy was to generate revenue via pre-clinical licensing deals. Those deals didn't happen - either because potential licensees weren't biting or they weren't offering enough $$$$. So the Company has 2 options - either leave the candidate sitting on the shelf, or take it into phase I/IIa trials themselves. The second option provides clinical evidence to pique pharma's interest and also increases the valuation. In short, the shift in strategy may not have been a question of the BOD taking their eyes off the ball - it may just have been that they had no choice. However, I completely agree with your assessment of the loan situation. A great shame because Redx have some interesting stuff in their pipeline and now have a much tougher road to travel. Just have to hope that they are able to move on and shift the focus back to what's important.

....actually a lesson in the pitfalls of early stage biotech. Seed funding, grants etc. may be plentiful at start-up but follow-on funding is a different ballgame. Easy to grow very quickly and take on large overheads but it has to be sustainable. Utterly ridiculous to end up in this situation over a £2m loan but in terms of strategy, did the BOD lose sight of what the Company was about or was it simply that the licensing deals didn't come quickly enough? Not sure I agree with your comments on FIH clinical trials. If you had said phase IIb or III then I could understand it but surely most bios the size of Redx should be able to get a phase I/IIa underway?

No, as I understand it, they will request that the suspension be lifted and Redx will resume trading on AIM. The Company then continues as before with broadly the same strategy - minus of course RX005 but with the debt to Liverpool City Council cleared and working capital in the bank.

Well on the one hand it's great news - Redx should be able to commence trading again and put this whole sorry mess behind them. Shame they have had to sell off a really promising candidate from their pipeline at fire sale prices to achieve that (note no royalties either). Loxo are a good company and the only consolation is that if RX005 is as good as it looks they'll be able to develop it much quicker than Redx ever could have and patients will be the winners. Would hope that Redx certainly have enough cash now to carry out trial for RX004.

"Redx, the drug discovery and development company, announces that Jason Baker and Miles Needham of FRP Advisory LLP, joint administrators of the Company and of its subsidiary, Redx Oncology Limited, has entered into an unconditional agreement (on behalf of the Companies) on Friday 28 July 2017 for the disposal to Loxo Oncology, Inc., the US-based NASDAQ-quoted biopharmaceutical company, of certain patents, intellectual property, contracts for product manufacture, and physical materials relating to Redx's BTK inhibitor drug development program for the sum of US$40 million. "We are pleased to have taken a significant step forwards in line with our strategy towards the rescue of the Companies as going concerns. Today's unconditional agreement is for the realisation of certain of the Group's intellectual property assets, the proceeds from which will allow for the creditors of the Companies to be paid in full and provide working capital for the Group's continuing business, thus restoring the Companies to solvency. The administrators anticipate that, upon their review and approval of the management's final business plan, the Company will be set to exit administration. Upon exit from administration the directors of the Company will be in a position to request the lifting of the suspension of the Company's shares from trading on AIM." will be in a position to request the lifting of the suspension of the Company's shares from trading on AIM. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/REDX/13312269.html

Link below to new article from EP Vantage featuring Angle and including an interview with AN http://www.epvantage.com/Universal/View.aspx?type=Story&id=721075&isEPVantage=yes

PeproStat trial now fully recruited - that was quick! It was only a month ago that we were advised they had reached mid-point in recruitment. Good stuff and now look forward to results in Q4. https://www.investegate.co.uk/ergomed-plc--ergo-/rns/recruitment-complete-early-for-phase-iib-study/201707240700068231L/

https://www.investegate.co.uk/angle-plc/agl/preclinical-study-presented-at-tumor-boston-summit/201707201300026533L/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Angle%20PLC%20Alert ""Of the three types of liquid biopsy technology employed in cancer management, the analysis of CTCs is the most advanced and could potentially revolutionize the treatment of cancer patients," said Dr. Allan. "The presence of CTCs can be detected early in the course of a cancer and is a fundamental prerequisite of metastasis. Their identification offers great potential not only in the diagnosis of patients but also in assessing their progression and likely outcome. When comparing the three methods used, ANGLE's Parsortix system proved to be the most advanced in its ability to harvest viable cells for downstream analysis, which is critical to research and patient care." Good stuff.