26 Jul 2022 13:47
REDX PHARMA PLC
("Redx" or "the Company")
Exercise of Options, PDMR Dealing and Total Voting Rights
Alderley Park, UK, 26 July 2022 Redx (AIM:REDX), the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, highly targeted therapeutics for the treatment of cancer and fibrotic disease, announces the exercise of share options by current and former employees of the Company over a total of 1,058,297 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at exercise prices ranging from 15.5 to 56 pence per share.
In addition, options over 500,000 new ordinary shares of 1 pence each in the capital of the Company were exercised by Richard Armer (Chief Scientific Officer) who is classed as a person discharging managerial responsibility ("PDMR") under EU Regulation 596/2014 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as set out further below.
Name | Position | Number of share options exercised | Exercise price | Total options held following exercise |
Richard Armer | Chief Scientific Officer | 500,000 | 15.5 pence | 6,084,378 |
Application has been made to the London Stock Exchange for the 1,558,297 new Ordinary Shares to be admitted to trading on AIM and admission is expected to occur at or around 8.00 am on Wednesday 27th July 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue.
Total Voting Rights
For the purpose of the Disclosure Guidance and Transparency Rules, following the above issue of equity, the issued share capital of the Company will comprise 334,911,458 Ordinary Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company, under the Disclosure Guidance and Transparency Rules.
For further information, please contact: |
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Redx Pharma Plc UK Headquarters Caitlin Pearson, Head of Communications ir@redxpharma.com
Lisa Anson, Chief Executive Officer | T: +44 (0)1625 469 918 | |||
US Office Peter Collum, Chief Financial Officer | ||||
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SPARK Advisory Partners (Nominated Adviser) | T: +44 (0)203 368 3550 | |||
Matt Davis/ Adam Dawes | ||||
WG Partners LLP (Joint Broker) | T: +44 (0)203 705 9330 | |||
Claes Spång/ Satheesh Nadarajah/ David Wilson | ||||
Panmure Gordon (UK) Limited (Joint Broker) | T: +44 (0)207 886 2500 | |||
Rupert Dearden/ Freddy Crossley/ Emma Earl | ||||
FTI Consulting | T: +44 (0)203 727 1000 | |||
Simon Conway/ Ciara Martin | ||||
About Redx Pharma Plc
Redx Pharma (AIM: REDX) is a clinical-stage biotechnology company focused on the discovery and development of novel, small molecule, highly targeted therapeutics for the treatment of cancer and fibrotic diseases, aiming initially to progress them to clinical proof of concept before evaluating options for further development and potential value creation. Redx's lead oncology product candidate, the Porcupine inhibitor RXC004, commenced a Phase 2 programme in November 2021. The Company's lead fibrosis product candidate, the selective ROCK2 inhibitor RXC007, is in development for idiopathic pulmonary fibrosis and commenced a Phase 1 clinical trial in June 2021. Encouraging safety and pharmacokinetic data has been reported, and a Phase 2 clinical programme is confirmed to start in 2022. Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is currently in pre-IND stage, with Phase 1 clinical studies expected to commence in 2023.
The Company has a strong track record of discovering new drug candidates through its core strengths in medicinal chemistry and translational science, enabling the Company to discover and develop differentiated therapeutics against biologically or clinically validated targets. The Company's accomplishments are evidenced not only by its two wholly-owned clinical-stage product candidates and rapidly expanding pipeline, but also by its strategic transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a BTK inhibitor now in Phase 3 clinical development by Eli Lilly following its acquisition of Loxo Oncology and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic diseases including idiopathic pulmonary fibrosis (IPF), which AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals, which includes JZP815, a preclinical pan-RAF inhibitor, which has received IND approval and a further oncology programme which is in early stage research.
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1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Richard Armer |
2. | Reason for the notification | |
a) | Position/status | Chief Scientific 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 | Ordinary Shares of 1p each |
b) | Identification code | ISIN: GB00BSNB6S51 |
c) | Nature of the transactions | Exercise of options under the Redx Share Option Scheme |
d) | Price(s) and volume(s) | Exercise Price: 15.5p per share Volume: 500,000 |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 26 July 2022 |
f) | Place of the transactions | Off-market |