RE: Sales10 Mar 2025 10:42
3 February 2025
Roquefort Therapeutics plc
("Roquefort Therapeutics" or the "Company")
Share Purchase Agreement Signed - 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 announce the signing of a binding share purchase agreement (the "SPA") 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"). This announcement follows the signing of a term sheet with Pleiades, as announced on 2 January 2025.
Principal Transaction Terms
The SPA includes the following principal terms:
· Sale of 100% of the issued share capital of Lyramid to Pleiades;
· Consideration amount of US$10.8 million consisting of equity in Pleiades, together with the potential for upfront cash (to be finalised at Transaction completion); and
· Completion is contingent inter alia on Pleaides completing a current fundraising round and finalising certain in-licensing transactions no later than 30 June 2025.
Following completion of the Transaction, Roquefort Therapeutics will hold a material equity position in Pleiades, a well-funded private company with a portfolio of clinical assets and pre-clinical programs.