30 Jun 2023 07:00
REDX PHARMA PLC
("Redx" or the "Company")
New Grant of Options
Alderley Park, UK, 30 June 2023 Redx (AIM:REDX), the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, targeted therapeutics for the treatment of fibrotic disease and cancer, announces a new grant of options.
The Board has granted additional options to Lisa Anson (Chief Executive Officer) and Peter Collum (Chief Financial Officer) on 30 June 2023, both of whom are classed as persons discharging managerial responsibility ("PDMRs") 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. The options are being granted at 26.5 pence per Ordinary Share, being the market price at the close of business on 29 June 2023. Subsequent vesting will be subject to certain time criteria having been met.
Name | Position | Number of Options Granted | Vesting Date | Total Options Held Following the Grant |
Lisa Anson (Director/PDMR) | Chief Executive Officer | 500,000 | 30 June 2026
| 14,883,586 |
Peter Collum (PDMR) | Chief Financial Officer | 500,000
| 30 June 2026
| 3,200,000 |
In addition, options over a further 2,000,000 Ordinary Shares of 1 pence each will be granted on 30 June 2023 to certain other staff of the Company. These options will also be granted at 26.5 pence per Ordinary Share, with vesting also subject to certain time criteria having been met.
Following the grants referred to above, the Company will have granted options over a total of 48,221,295 Ordinary Shares, representing 14.4 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities (PDMR) / person closely associated | |||||
a) | Name | Lisa Anson
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2. | Reason for the notification | |||||
a) | Position / status | Chief Executive Officer
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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
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b) | LEI | 213800HMS4EBXO589Y37
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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, type of instrument
Identification code | Options over Ordinary Shares of 1 pence each in Redx Pharma plc
ISIN for Redx Pharma plc Ordinary Shares: GB00BSNB6S51
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b) | Nature of the transaction | Grant of options under the Redx All Employee Share Option Scheme | ||||
c) | Prices(a) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 30 June 2023 | ||||
f) | Place of the transaction | Outside a trading venue
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1. | Details of the person discharging managerial responsibilities (PDMR) / person closely associated | |||||
a) | Name | Peter Collum
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2. | Reason for the notification | |||||
a) | Position / status | Chief Financial Officer
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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
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b) | LEI | 213800HMS4EBXO589Y37
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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, type of instrument
Identification code | Options over Ordinary Shares of 1 pence each in Redx Pharma plc
ISIN for Redx Pharma plc Ordinary Shares: GB00BSNB6S51
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b) | Nature of the transaction | Grant of options | ||||
c) | Prices(a) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
e) | Date of the transaction | 30 June 2023 | ||||
f) | Place of the transaction | Outside a trading venue
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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, targeted therapeutics for the treatment of fibrotic disease, cancer and the emerging area of cancer-associated fibrosis, aiming initially to progress them to clinical proof of concept before evaluating options for further development and potential value creation. The Company's lead fibrosis product candidate, the selective ROCK2 inhibitor, zelasudil (RXC007), is in development for interstitial lung disease and commenced a Phase 2a trial for idiopathic pulmonary fibrosis (IPF) in October 2022, with topline data expected in Q1 2024. Redx's lead oncology product candidate, the Porcupine inhibitor RXC004, being developed as a targeted treatment for Wnt-ligand dependent cancers, is expected to report combination with anti-PD-1 Phase 2 data during 2023. Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is progressing towards a CTA application at the end of 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 non-covalent (reversible) BTK inhibitor now approved by the US FDA for adult patients with mantle cell lymphoma previously treated with a covalent BTK inhibitor, and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic diseases including IPF, which AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals, which includes JZP815, a pan-RAF inhibitor developed by Redx which Jazz is now progressing through Phase 1 clinical studies, and an early stage oncology research collaboration.
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