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Separately, the Company updated the status of the sale of its subsidiary Lyramid to
Pleiades, a transaction worth up to $10.8m. Because Pleiades has not yet completed
its fundraising with institutional and sovereign wealth fund investors in the GCC
(Gulf Cooperation Council), the longstop date has been extended to 16 March
2026. The SPA has also been amended so that Midkine Investments, rather than
Roquefort Therapeutics, is now the selling entity, and to acknowledge the
scheduled termination of Lyramid’s third-party licence to the Midkine antibody
programme in November 2025.