Last checked at 14 Apr 2020 12:00
Synairgen plc
('Synairgen' or the 'Company')
Result of General Meeting
Southampton, UK - 14 April 2020: Synairgen (LSE: SNG), the respiratory drug discovery and development company, is pleased to announce the passing of the Resolutions at the General Meeting held earlier today. The Conditional Placing and Subscription remain conditional on Admission of the relevant New Ordinary Shares to AIM, which is expected to take place at 8.00 a.m. on Wednesday 15 April 2020.
As announced on 31 March 2020, the first patient was dosed in the Company's double-blind, placebo-controlled trial of SNG001 (the Company's wholly-owned inhaled formulation of interferon-beta-1a) in COVID-19 patients. The trial has now been labelled as an Urgent Public Health study by the National Institute for Health Research (NIHR). Further updates will be made in due course.
With effect from Admission, the Company will have 149,433,442 Ordinary Shares in issue, with no shares held in treasury. Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
Following Admission, the shareholdings of the Directors of the Company are as follows:
Director | Ordinary Shares held prior to the Fundraising | New Ordinary Shares subscribed for in the Fundraising | Ordinary Shares held after the Fundraising | Percentage of the Enlarged Issued Share Capital held |
Simon Shaw | 1,474,096 | 57,143 | 1,531,239 | 1.02% |
Dr Bruce Campbell | 294,259 | 28,571 | 322,830 | 0.22% |
Prof. Stephen Holgate | 858,360 | 28,571 | 886,931 | 0.59% |
Richard Marsden | 310,682 | 57,143 | 367,825 | 0.25% |
Dr Phillip Monk | 230,314 | 14,286 | 244,600 | 0.16% |
John Ward | 339,006 | 28,571 | 367,577 | 0.25% |
Iain Buchanan | 112,741 | - | 112,741 | 0.08% |
Capitalised terms in the text of this announcement have the meanings given to them in the Company's circular dated 27 March 2020.
For further enquiries, please contact:
Synairgen plc
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
Tel: + 44 (0) 23 8051 2800
finnCap
Geoff Nash, Kate Bannatyne, Charlie Beeson (Corporate Finance)
Alice Lane, Manasa Patil (ECM)
Tel: + 44 (0) 20 7220 0500
Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott, Sue Stuart, Olivia Manser
synairgen@consilium-comms.com
Tel: +44 (0) 20 3709 5700
Notes for Editors
About Synairgen
Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on lung viral defence in asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease.
Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com
COVID-19
COVID-19, caused by the SARS-CoV-2 virus, is a global threat and there is an urgent need to assess new treatments to prevent and effectively treat the severe lower respiratory tract illness that can occur with this disease. Older people and those with co-morbidities such as heart and lung complications or diabetes are at greatest risk of developing severe or fatal disease.
Interferon beta (IFN-beta) potential applicability to COVID-19
Interferon beta is a naturally occurring protein, which orchestrates the body's antiviral responses. There is evidence that deficiency in IFN-beta production by the lung could explain the enhanced susceptibility of these at-risk patient groups to developing severe lower respiratory tract (lung) disease during respiratory viral infections. Furthermore, viruses, including coronaviruses such as SARS-CoV-2 and MERS-CoV, have evolved mechanisms which suppress endogenous IFN-beta production, thereby helping the virus evade the innate immune system. The addition of exogenous IFN-beta before or during viral infection of lung cells either prevents or greatly diminishes cell damage and viral replication, respectively. Synairgen's SNG001 is a formulation of IFN-beta-1a for direct delivery to the lungs via nebulisation. It is pH neutral, and is free of mannitol, arginine and human serum albumin, making it suitable for inhaled delivery direct to the site of action.
Two Phase II clinical trials in asthma showed that inhaled SNG001 treatment activated antiviral pathways in the lung along with improving lung function in patients with a respiratory viral infection. We have also shown that treatment with inhaled SNG001 reduced lung viral load and lung pathology in an in vivo swine flu driven model of viral pneumonia. At the time of the MERS-CoV outbreak in 2013, Synairgen collaborated with the National Institutes of Health (NIH) in the US to show that SNG001 could protect against MERS-CoV infection of lung cells in vitro.
COVID-19 Clinical Trial
Synairgen's Phase II trial in COVID-19 patients (SG016) is a double-blind, placebo-controlled trial. Initially, the pilot phase of the study will involve 100 COVID-19 patients, will take place across a number of NHS trusts and has been adopted by the NIHR Respiratory Translational Research Collaboration, which is comprised of leading centres in respiratory medicine in the UK whose internationally recognised experts are working together to accelerate development and discovery for COVID-19. A successful outcome from the pilot phase will inform onwards progression of SNG001 in COVID-19 patients.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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 / person closely associated | |||||
a) | Name | Simon Shaw | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Non-executive Chairman | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dr Bruce Campbell | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Non-executive director | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Prof. Stephen Holgate | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Non-executive director | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Richard Marsden | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - CEO | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dr. Philip Monk | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Chief Scientific Officer | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | John Ward | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Finance Director | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Synairgen plc | ||||
b) | LEI | 213800IMMTOPPDF8HD24 | ||||
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 |
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Identification code | GB00B0381Z20 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price |
N/A, single transaction as per 4c above | ||||
e) | Date of the transaction | 15 April 2020 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||