Director Dealings
May 29 2009 - 1:00AM
UK Regulatory
TIDMLPX
RNS Number : 9724S
Lipoxen PLC
29 May 2009
+--------------------------------------+--------------------------------------+
| For immediate release | 29 May 2009 |
+--------------------------------------+--------------------------------------+
Lipoxen plc
('Lipoxen' or 'the Company')
DIRECTOR DEALINGS
Lipoxen plc (AIM: LPX), a bio-pharmaceutical company specialising in the
development of high-value differentiated biologicals, vaccines and siRNA
delivery, is pleased to announce that further to the announcement released
today, that the Company has raised GBP2.9 million through a non pre-emptive
issue of shares (the "Fundraising"), certain directors have acquired ordinary
shares of 0.5 pence each (the "New Ordinary Shares") as part of the Fundraising.
Details of the director dealings are set out in the table below:
+------------------+--------------+--------------+------------+-------------+
| Name | Date | Shares | Total | % of total |
| | | acquired | interest | issued |
| | | | | share |
| | | | | capital |
+------------------+--------------+--------------+------------+-------------+
| Sir Brian | 28 May 2009 | 941,176 | 1,191,176 | 0.77 |
| Richards | | | | |
+------------------+--------------+--------------+------------+-------------+
| Scott Maguire | 28 May 2009 | 765,648 | 765,648 | 0.50 |
+------------------+--------------+--------------+------------+-------------+
| Colin Hill | 28 May 2009 | 764,706 | 1,139,706 | 0.74 |
+------------------+--------------+--------------+------------+-------------+
| Gregory | 28 May 2009 | 588,234 | 4,650,207 | 3.02 |
| Gregoriadis | | | | |
+------------------+--------------+--------------+------------+-------------+
| Firdaus Dastoor | 28 May 2009 | 750,000 | 1,925,000 | 1.25 |
+------------------+--------------+--------------+------------+-------------+
| | | | | |
+------------------+--------------+--------------+------------+-------------+
Mr Scott Maguire and Mr Colin Hill have entered into lock-in agreements
restricting the disposal of the New Ordinary Shares acquired subject to the
Fundraising for a period of 6 months from the date of admission of the New
Ordinary Shares.
All of the directors above have entered into orderly marketing agreements in
respect of all the New Ordinary Shares. The orderly marketing agreements provide
that any sale of the New Ordinary Shares must be through Noble & Company for a
period of 12 months from the date of admission of the New Ordinary Shares.
- Ends -
For further information please contact:
+-------------------------------------------------+-------------------------+
| Lipoxen plc | +44 (0)20 7389 5015 |
+-------------------------------------------------+-------------------------+
| M. Scott Maguire, Chief Executive Officer | |
+-------------------------------------------------+-------------------------+
| | |
+-------------------------------------------------+-------------------------+
| Singer Capital Markets (nominated adviser) | +44 (0)20 3205 7500 |
+-------------------------------------------------+-------------------------+
| Jeff Keating / Claes Spång | |
+-------------------------------------------------+-------------------------+
| | |
+-------------------------------------------------+-------------------------+
| Noble & Company | +44 (0) 20 7763 2200 |
+-------------------------------------------------+-------------------------+
| John Llewellyn-Lloyd / Sam Reynolds | |
+-------------------------------------------------+-------------------------+
| | |
+-------------------------------------------------+-------------------------+
| Buchanan Communications | +44 (0)20 7466 5000 |
+-------------------------------------------------+-------------------------+
| Mary-Jane Elliott, Lisa Baderoon, Rebecca Skye | |
| Dietrich, Catherine Breen | |
+-------------------------------------------------+-------------------------+
Notes for Editors
About Lipoxen
Lipoxen plc is a biopharmaceutical company focused on the development of new and
improved biologic drugs and vaccines. Lipoxen has three proprietary patented
technology platforms:
1) PolyXen - for extending the efficacy and half life of biologic drugs
2) ImuXen - for creating new vaccines and improving existing vaccines
3) SiRNAblate - for the delivery of siRNA
Lipoxen's technology is designed to improve the efficacy, safety, stability,
biological half-life and immunologic characteristics of its products.
Lipoxen has multiple drug and vaccine programmes in development. Two products
are in clinical development, SuliXen, a long acting insulin and ErepoXen, a
long-acting erythropoietin (EPO). Lipoxen's preclinical pipeline includes Factor
XIII and vaccines against HIV, influenza and malaria.
The Company has a low-risk business model and out-licenses its proprietary
technologies to biopharmaceutical companies that have strong manufacturing and
marketing capabilities. Lipoxen currently has commercial agreements with some of
the world's leading biotechnology and pharmaceutical companies including Baxter,
Schering-Plough, Sanofi-Aventis, the Serum Institute of India Limited,
Genentech, Amgen and Genzyme.
Lipoxen, which was founded in 1997, now trades on the AIM Market of the London
Stock Exchange under the ticker symbol LPX. More information can be found at the
Company's website: www.lipoxen.com.
This announcement includes 'forward-looking statements' which include all
statements other than statements of historical facts, including, without
limitation, those regarding the Company's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to the Company's products and services), and any
statements preceded by, followed by or that include forward-looking terminology
such as the words 'targets', 'believes', 'estimates', 'expects', 'aims',
'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or
similar expressions or the negative thereof. Such forward-looking statements
involve known and unknown risks, uncertainties and other important factors
beyond the Company's control that could cause the actual results, performance or
achievements of the Company to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous assumptions
regarding the Company's present and future business strategies and the
environment in which the Company will operate in the future. Among the important
factors that could cause the Company's actual results, performance or
achievements to differ materially from those in forward-looking statements
include those relating to The Company's funding requirements, regulatory
approvals, clinical trials, reliance on third parties, intellectual property,
key personnel and other factors. These forward-looking statements speak only as
at the date of this announcement. The Company expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in the Company's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of these
factors, readers are cautioned not to rely on any forward-looking statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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