4 March 2025
Roquefort Therapeutics
plc
("Roquefort Therapeutics" or the "Company")
Update on Sale of
Lyramid
Roquefort Therapeutics
(LSE:ROQ), the Main Market listed biotech
company focused on developing first in
class medicines in the high value and high growth immunology and
oncology markets, is pleased to provide an
update on the binding share purchase agreement (the "SPA") signed
on 1 February 2025 for the sale of its wholly owned subsidiary
Lyramid Pty Ltd ("Lyramid") to Pleiades Pharma Limited ("Pleiades")
for a consideration amount of US$10.8 million (the
"Transaction").
As announced on 3 February 2025,
completion of the SPA is contingent inter alia on Pleaides finalising
certain in-licensing transactions and completing a current
fundraising round no later than 30 June 2025 (each a "Condition
Precedent").
Pleiades has now completed the
in-licencing of the clinical stage PapMV cancer and infectious
disease vaccine platform and the S100A9 immunotherapy from Innate
BioSynergy (the "Pleiades Licenses"), to satisfy this Condition
Precedent. The Pleiades Licenses are exclusive worldwide
licenses for all the registered and unregistered intellectual
property rights for the PapMV and S100A9 programs, including
granted US patents for PapMV.
Pleiades has advised that its
fundraising is progressing as expected and whereas there can be no
guarantees, based on certain indications made by prospective
investors it is confident of satisfying this Condition Precedent on
schedule.
The Company will provide
shareholders with further updates regarding the Transaction as
appropriate.
Ajan Reginald, Roquefort Therapeutics CEO
commented:
"We are pleased that the in-licenses have been signed, which
is a key condition precedent for the sale of Lyramid, and that
fundraising is progressing as expected. We look forward to
progressing the Transaction to completion and remain focused on
executing further transactions for our other programs in the
future."
Regulatory Information
This Announcement contains inside
information for the purposes of the UK version of the market abuse
regulation (EU No. 596/2014) as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018
("UK MAR").
ENDS
Enquiries:
|
Roquefort Therapeutics plc
|
+44 (0)20
3918 8633
|
|
Stephen West (Chairman) / Ajan
Reginald (CEO)
|
|
|
SP
Angel Corporate Finance LLP (Broker)
David Hignell / Vadim Alexandre /
Devik Mehta
|
+44 (0) 20
3470 0470
|
|
Burson Buchanan (Public Relations)
Ben Romney / Jamie Hooper
|
+44 (0)20
7466 5000
|
|
Peak
IR (Investor Relations)
Seb Wykeham
|
+33 (0)7
44 44 15 42
|
LEI: 254900P4SISIWOR9RH34
About Pleiades
Pleiades is a private company
developing a portfolio of novel clinical and pre-clinical medicines
and is led by Caroline Fortier, an experienced Pharma CEO with a
track-record of completing more than US$750 million in trade sale
exits to Big Pharma. Pleiades is progressing its funding
discussions with multiple institutional investors.
About Roquefort
Therapeutics
Roquefort Therapeutics (LSE:ROQ) is
a Main Market listed biotech company developing first in class
drugs in the high value and high growth immunology and oncology markets prior
to partnering with big pharma.
Roquefort Therapeutics' portfolio
consists of five novel patent-protected pre-clinical anti-cancer
medicines. The highly complementary profile of five
best-in-class medicines consists of:
·
Midkine antibodies with
significant in
vivo efficacy and toxicology studies;
·
Midkine RNA therapeutics with novel anti-cancer
gene editing action;
·
Midkine mRNA therapeutics with novel anti-cancer
approach;
·
STAT-6 siRNA therapeutics targeting solid tumours
with significant in
vivo efficacy; and
·
MK cell therapy with direct and NK cell-mediated
anti-cancer action
For further information on Roquefort
Therapeutics, please visit www.roquefortplc.com and @RoquefortTherap on
X (formerly Twitter).
