5 May 2021 07:00
REDX PHARMA PLC
("Redx" or the Company)
Redx Pharma announces appointment of Peter Collum, as Chief Financial Officer
Alderley Park, 5 May 2021, Redx Pharma plc (AIM: REDX), the drug discovery and development company focused on cancer and fibrosis, is pleased to announce that it has appointed Peter Collum as Chief Financial Officer (CFO). Peter will commence his role at Redx immediately and will be based in the New York area, in the United States.
Peter joins Redx from Pharnext SA, an advanced late-stage clinical biopharmaceutical company, where he has been Chief Financial Officer and Chief Business Officer since July 2019. Prior to Pharnext, Peter spent over 17 years in healthcare investment banking, most recently as a Partner at MTS Health Partners, a boutique healthcare investment bank in New York, where he led and participated in numerous M&A and financing deals for public and private life sciences companies both in the US and internationally. Prior to this, he worked in the healthcare investment banking group at Bank of America, with a focus on life sciences. Peter started his career in the pharmaceutical industry at Roche in US Technical Operations. He holds an MBA from the Booth School of Business at the University of Chicago and a BS from Rutgers University College of Engineering.
Lisa Anson, Chief Executive Officer of Redx commented: "We are delighted to welcome Peter to the Redx management team. This is an exciting stage of Redx's development and growth as we continue to progress on lead assets in oncology and fibrosis. Peter's extensive experience in the US and with US investors will be invaluable as we continue to deliver on our ambition towards becoming a leading biotech company with a robust pipeline of valuable, differentiated targeted medicines in areas of high unmet medical need."
Peter Collum commented: "I am very pleased to be joining Redx at such an exciting time for the Company. Over the past few years, Redx has made significant progress, both financially and operationally, and I look forward to working alongside its strong leadership team to deliver the next stage of growth."
As previously announced, James Mead will transition from his current role of Chief Financial Officer to the new role of Chief Operations Officer at Redx, and will continue to be based in Alderley Park, Cheshire at the Company's laboratories and head office. Neither the COO nor the CFO will be Directors of the Company.
In addition, the Company announces that on 4 May 2021, options over 1,500,000 ordinary shares of 1p each in the share capital of the Company, were granted to Peter Collum on the following basis:
The options were granted with an exercise price of 65p per share, being the closing price on 30 April 2021.
Name | Position | Number of Options Granted | Vesting Date | Total Options Held Following the Grant |
Peter Collum (PDMR) | Chief Financial Officer | 100,000 100,000 100,000 1,200,000 | 4 May 2022 4 May 2023 4 May 2024 4 May 2024 (subject to performance conditions) |
1,500,000 |
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Following the grant referred to above, the Company will have granted options over a total of 33,348,764 Ordinary Shares representing 12.2 per cent. of the share capital in issue. The number of options that may be awarded remains limited such that the aggregate number of Ordinary Shares of 1p each under option will be less than 15 per cent. of the total issued share capital of the Company.
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Peter Collum |
2. | Reason for the notification | |
a) | Position/status | Chief Financial Officer |
b) | Initial notification/Amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Redx Pharma Plc |
b) | LEI | 213800HMS4EBXO589Y37 |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument | Options over Ordinary Shares of 1p each |
b) | Identification code | ISIN: GB00BSNB6S51 |
c) | Nature of the transactions | Grant of options |
d) | Price(s) and volume(s) | Exercise price: 65 pence per share Volume: 1,500,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 4 May 2021 |
f) | Place of the transactions | Off-market |
For further information, please contact: |
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Redx Pharma Plc | T: +44 1625 469 918 |
Iain Ross, Chairman Lisa Anson, Chief Executive |
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SPARK Advisory Partners (Nominated Adviser) | T: +44 203 368 3550 |
Matt Davis/Adam Dawes |
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WG Partners LLP (Joint Broker) | T: +44 20 3705 9330 |
Claes Spång/Nigel Birks/David Wilson |
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Panmure Gordon (UK) Limited (Joint Broker) | T: +44 20 7886 2500 |
Rupert Dearden/Freddy Crossley/Emma Earl |
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FTI Consulting | T: +44 20 3727 1000 |
Simon Conway/Ciara Martin |
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About Redx Pharma Plc
Redx Pharma (AIM:REDX) is focused on the discovery and development of novel targeted medicines for the treatment of cancer and fibrotic disease, aiming to progress them to clinical proof of concept. Redx's lead oncology asset, RXC004, is currently in a phase 1 study in patients with advanced malignancies with top line data expected in mid-2021 and the Company's selective ROCK2 inhibitor, RXC007, is expected to enter a phase 1 clinical study in H1 2021.
The Company's core capability of converting medicinal chemistry insights into differentiated and commercially attractive small molecule drug candidates against clinically validated targets has been recognized by others. Over the last three years the company has completed four major preclinical stage deals with AstraZeneca, Jazz Pharmaceuticals and Loxo Oncology (now Eli Lilly).