Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCizzle Biotech Regulatory News (CIZ)

Share Price Information for Cizzle Biotech (CIZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2.05
Bid: 2.00
Ask: 2.10
Change: -0.05 (-2.38%)
Spread: 0.10 (5.00%)
Open: 2.10
High: 2.10
Low: 2.05
Prev. Close: 2.10

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Conduit Pharmaceuticals Proposed Listing

9 Nov 2022 07:00

RNS Number : 7530F
Cizzle Biotechnology Holdings PLC
09 November 2022
 

9 November 2022

 

Cizzle Biotechnology Holdings Plc

("Cizzle Biotechnology", or the "Company")

 

Conduit Pharmaceuticals Proposed Listing

 

Cizzle Biotechnology, the UK-based diagnostics developer, is pleased to note the announcement by Conduit Pharmaceuticals Limited ("Conduit") that they intend to become a publicly traded company on NASDAQ in the USA via a merger with Murphy Cannon Acquisition Corp. ("Murphy"), a NASDAQ listed special purpose acquisition company.

Cizzle Biotechnology announced on 29 February 2022 that it has entered into a definitive agreement with Conduit and St George Street Capital Limited ("SGSC") to acquire a further 5% economic interest in the commercialisation of the AZD 1656 asset or other such assets being developed by Conduit or SGSC to treat inflammatory pulmonary and cardiovascular disease, for a total consideration of £1.88m, which was paid through the issue of new ordinary shares in the Company at 4.0 pence per share. It has been reported that AZD 1656 acts as an immunomodulator to dampen inflammatory response which could have wider applications in managing serious cardiovascular and lung diseases.

Conduit has entered into a definitive business combination agreement with Murphy. The business combination transaction is expected to provide Conduit with access to the public equity market, which the parties believe will accelerate development of Conduit's pipeline. Upon the business combination transaction closing, which is expected to occur in the first quarter of 2023, the combined company is expected to be named Conduit Pharmaceuticals Inc., which will continue to operate under the Conduit management team.

Conduit state that the combined company is anticipated to have an estimated pro forma enterprise valuation of approximately US$700 million. Cash proceeds from the transactions contemplated by the business combination agreement are expected to consist of up to approximately US$136 million of cash held in Murphy's trust account (before any redemptions by Murphy's public stockholders) and approximately US$27 million (before expenses) attributable to a private investment anchored by new and existing investors of Conduit 

The transaction proceeds will advance the clinical evaluation of specific activation of Tregs in one of a number of possible autoimmune diseases. The transaction, which has been unanimously approved by the boards of directors of both Conduit and Murphy, are subject to, among other customary closing conditions, approval by the stockholders of Murphy, and the shareholders of Conduit.

Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:

"I am delighted to see Conduit announce this proposed listing, which will provide them with funding to aid the development of AZD 1656 and other potential assets being developed to treat inflammatory pulmonary and cardiovascular disease, in which Cizzle Biotechnology has an economic interest through its royalty rights, amongst the other assets in their portfolio."

Enquiries:

 

Cizzle Biotechnology Holdings plc

Via IFC Advisory

Allan Syms (Executive Chairman)

 

Allenby Capital Limited

+44(0) 20 33285656

John Depasquale

Alex Brearley

 

Novum Securities Limited

+44(0) 20 7399 9400

Colin Rowbury

Jon Bellis

 

IFC Advisory Limited

+44(0) 20 3934 6630

Tim Metcalfe

cizzle@investor-focus.co.uk

Florence Chandler

 

Notes to Editors:

About Cizzle Biotechnology

Cizzle Biotechnology is also developing a blood test for the early detection of lung cancer. Cizzle Biotechnology is a spin- out from the University of York, founded in 2006 around the work of Professor Coverley and colleagues. Its proof-of-concept prototype test is based on the ability to detect a stable plasma biomarker, a variant of CIZ1 known as CIZ1B. CIZ1 is a naturally occurring cell nuclear protein involved in DNA replication, and the targeted CIZ1B variant is highly correlated with early-stage lung cancer.

For more information, please see https://cizzlebiotechnology.com

You can also follow the Company through its twitter account @CizzlePlc and on LinkedIn.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBPBBTMTJMTMT
Date   Source Headline
18th Jul 20247:00 amRNSManufacturing Agreement with BBI Solutions
9th Jul 20247:00 amRNSIssue of Share Options in Lieu of Consultancy Fees
24th Jun 202412:42 pmRNSResult of AGM
17th Jun 20247:00 amRNSUpdate on North American Strategic Licensing MoU
3rd Jun 20247:00 amRNSNotice of Annual General Meeting
13th May 20247:00 amRNSHolding(s) in Company
30th Apr 20245:00 pmRNSTotal Voting Rights
30th Apr 20249:12 amRNSFinal results for the year ended 31 December 2023
23rd Apr 202411:20 amRNSHolding(s) in Company
2nd Apr 20247:00 amRNSLicensing and Partnership MoU for North America
26th Mar 20247:00 amRNSPlacing to raise £0.62 million
28th Sep 20237:00 amRNSInterim Results
21st Sep 20237:00 amRNSUpdate on Put Option with Conduit
19th Sep 20237:00 amRNSCompletion of Evaluation Programme with Bio-Techne
8th Sep 20237:03 amRNSExtension of and update on Put Option with Conduit
15th Aug 20237:00 amRNSUpdate on Put Option with Conduit
10th Aug 20237:00 amRNSExpansion of Research Agreement and CIZ1B Update
30th Jun 20235:00 pmRNSTotal Voting Rights
28th Jun 202312:01 pmRNSResult of AGM
12th Jun 20232:15 pmRNSTotal Voting Rights
12th Jun 20237:00 amRNSSubscription to raise £350,000
5th Jun 202312:35 pmRNSPosting of Annual Report and Notice of AGM
15th May 20231:42 pmRNSUpdate on Royalty Sharing Agreement in AZD1656
27th Apr 20237:00 amRNSResults for the year ended 31 December 2022
24th Apr 20237:00 amRNSNew Research Agreement with the University of York
30th Mar 202311:05 amRNSSecond Price Monitoring Extn
30th Mar 202311:00 amRNSPrice Monitoring Extension
17th Mar 20234:35 pmRNSPrice Monitoring Extension
13th Mar 20239:00 amRNSPrice Monitoring Extension
7th Mar 20237:00 amRNSIssue of Options in lieu of salary increases
22nd Feb 20237:52 amRNSHolding(s) in Company
6th Feb 20237:02 amRNSHolding(s) in Company
31st Jan 20235:00 pmRNSTotal Voting Rights
24th Jan 202312:48 pmRNSHolding(s) in Company
20th Dec 20223:17 pmRNSUpdate re. timing of Admission
19th Dec 20227:00 amRNSPut Option re AZD1656 & £115,586 Subscription
23rd Nov 20228:04 amRNSClinical Study for Lung Cancer Detection in China
9th Nov 20227:00 amRNSConduit Pharmaceuticals Proposed Listing
31st Oct 20225:00 pmRNSTotal Voting Rights
4th Oct 20228:00 amRNSAdmission and Total Voting Rights
30th Sep 20225:00 pmRNSTotal Voting Rights
29th Sep 20223:49 pmRNSIssue of Consideration Shares & Option Exercise
28th Sep 20223:05 pmRNSHolding(s) in Company
28th Sep 20227:00 amRNSInterim results
26th Sep 20228:00 amRNSAdmission and Total Voting Rights
21st Sep 202211:23 amRNSSubscription, Facility & Publication of Prospectus
18th Aug 20229:21 amRNSArcadia Clinical Trial Results Published
10th Aug 20224:41 pmRNSSecond Price Monitoring Extn
10th Aug 20224:36 pmRNSPrice Monitoring Extension
11th Jul 20227:15 amEQSHardman & Co Research: Cizzle Biotechnology (CIZ): Considerable progress in first year since listing

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.