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“ CorePath is a specialist oncology reference laboratory bringing together leading clinicians, scientists, academic affiliates and state of the art facilities and will be responsible for all activities in the USA including development, clinical trials and test validation for clinical use “
Remember 6th May 2022 RNS…..
[ CorePath ] intends to [ develop ] and offer a clinical laboratory test throughout the USA using the Company's proprietary technology
-- Proposed 15% royalty and royalty sharing arrangements for the Company over all offering of products and services using CIZ1B via CorePath in the USA
-- [ Initial pilots planned ]
Never mind a Golden cross when an RNS lands to confirm the CIZ1b biomarker blood test for Lung cancer is commercially available, in the US via CorePath, in conjunction with BioTechne’s ProtienSimple platform “ for high throughput detection of the CIZ1B cancer biomarker which may be useful in the detection of early-stage lung cancer.”
Then China …..
“GEM it’s URA we’ve started mining and found some Emeralds can you sell them at auction ?”
“Don’t know it’s really difficult”
Highlights: August/September 2023 - Commercial Quality Emerald Auction
-- Total auction revenues of USD 25.5 million
-- 43 lots were offered for sale, of which all 43 were sold (100%)
-- Average price of USD 7.51 per carat
Is that how difficult it is to get someone to sell something on your behalf?
Glad we have the CEO we have.
CIZ paid out £255,000 cash for economic interest in AZD1656. Then get paid £200,000 by SGSC so £55,000 paid out and the 5% interest was settled with issuing shares in CIZ to a value of £1,880,000.
They executed the put and received £3,250,000 worth NASDAQ shares in CDT at $10 a share.
Maybe think more of how much potential profit could be made from a £55,000 cash outlay for the economic interest in AZD1656.
20 September 2021
“SGSC to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of St George Street's therapeutic asset AZD1656 of up to GBP5 million, plus potentially further payments from the use of a companion diagnostic.”
“Under the full commercial contract entered into, in consideration of the potential future royalty stream from the commercialisation of AZD1656 , Cizzle Biotechnology is to pay GBP135,000 to SGSC.”
22 October 2021
“Research and Development agreement worth up to GBP1 million signed for potential autoimmune disease testing and possible additional companion diagnostics.”
“SGSC will pay Cizzle Biotechnology GBP200,000 upfront on commencement of the project and then further milestone payments totalling up to GBP1 million. “
14 February 2022
Agreement with Conduit and SGSC to acquire a 5% economic interest for a total consideration of GBP1.88 million, to be settled in new Cizzle ordinary shares at a price of 4.0p per share, a 56.9% premium to the closing mid-market price on 11 February 2022
“The Agreement is in addition to the Company's existing interest in AZD 1656 as announced on 20 September 2021”
29 September 2022
has settled the remaining consideration of GBP880,000 due under the Agreement through the issue of 22,000,000 new ordinary shares of 0.01 pence each ("Ordinary Shares") in the Company at 4.0p per share (the "Agreement Shares") to Conduit.
19 December 2022
“Put Option for Sale of Economic Interest and Royalty Sharing Agreement in AZD1656”
“Cizzle has agreed to pay Conduit GBP120,000 in cash as the premium for the Option”
Same RNS.
Cizzle Biotechnology Holdings plc, the UK based diagnostics developer, is pleased to announce that it has agreed a put option to sell: (i) its 5% economic interest in the commercialisation of the AZD 1656 asset to treat inflammatory pulmonary and cardiovascular disease (the "Economic Interest"); and (ii) its royalty sharing agreement with St George Street Capital ("SGSC"), the UK-based biomedical charity (the "Royalty Sharing Agreement') to Conduit Pharmaceuticals Limited ("Conduit") for a total consideration of GBP3.25 million to be satisfied through the issuance of new shares in Conduit (the "Option").
Don’t let facts get in the way of your pumping.
The economic interest in AZD1656 was valued at £3.25M.
They were issued shares in CDT at $10 per share as per Pipe funding valuation.
Until the CDT share price returns to $10 CIZ want get the £3.25M their economic interest in AZD1656 was valued at.
Once that sideshow has finished maybe the pumpers will head off with their 10% and long term holders will wait for commercialisation of the CIZ1b LDT, and development of the LFT
CIZ haven’t broken even on the Put option yet.
395,460 shares were issued in CDT at $10 per share equivalent to the £3.25M valuation on the put option,
They won’t be in profit on the £3.25M until the CDT share price is over $10.
On 14 May 2021 the Company issued investor warrants to subscribe for 11,000,000 Ordinary Shares at a fixed price of 15p per share valid for three years until 13 May 2024.
On 14 May 2021 the Company issued broker and adviser warrants to subscribe for 1,350,000 Ordinary Shares at a fixed price of 10p per share valid for three years until 13 May 2024. 250,000 of these broker warrants are automatically exercisable upon the Company's share price equalling 20p per share. The fair value of these warrants at 31 December 2021 was GBP36,000 and has been accounted for as a cost to the Company and a reduction of the share premium account ( see statement of changes in equity on pages 42 to 43).