REDX
PHARMA PLC
("Redx"
or the "Company")
New Grant of
Options
Alderley Park, UK, 23
February 2024 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, today announces a new grant of
options.
The Board has granted additional
options to Lisa Anson (Chief Executive Officer), Peter Collum
(Chief Financial Officer), James Mead (Chief Operating Officer) and
Claire Solk, (General Counsel) on 23 February 2024, all 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
19 pence per Ordinary Share, being the market price at the close of
business on 22 February 2024. 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
|
2,000,000
|
23 February 2027
|
16,883,586
|
|
|
|
|
|
|
|
Peter Collum
(PDMR)
|
Chief Financial
Officer
|
1,000,000
|
23 February 2027
|
4,200,000
|
|
James Mead
(PDMR)
|
Chief Operating
Officer
|
200,000
|
23 February 2027
|
2,700,000
|
|
Claire Solk
(PDMR)
|
General Counsel
|
200,000
|
23 February 2027
|
1,450,000
|
In addition, options over a further
1,050,000 Ordinary Shares of 1 pence each have been granted on 23
February 2024 to certain other staff of the Company. These options
will also be granted at 19 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
47,929,627 Ordinary Shares, representing 12.3 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
|
|
2.
|
Reason for the notification
|
|
a)
|
Position / status
|
Chief Executive
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, 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
|
|
b)
|
Nature of the
transaction
|
Grant of options under the Redx All
Employee Share Option Scheme
|
|
c)
|
Prices(a) and
volume(s)
|
|
Exercise Price per Ordinary
Share
|
Volume
|
|
19 pence
|
2,000,000 Ordinary
Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the
transaction
|
23 February 2024
|
|
f)
|
Place of the
transaction
|
Outside a trading
venue
|
|
1.
|
Details of the person discharging managerial responsibilities
(PDMR) / person closely associated
|
|
a)
|
Name
|
Peter Collum
|
|
2.
|
Reason for the notification
|
|
a)
|
Position / status
|
Chief Financial
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, 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
|
|
b)
|
Nature of the
transaction
|
Grant of options
|
|
c)
|
Prices(a) and
volume(s)
|
|
Exercise Price per Ordinary
Share
|
Volume
|
|
19 pence
|
1,000,000 Ordinary
Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the
transaction
|
23 February 2024
|
|
f)
|
Place of the
transaction
|
Outside a trading
venue
|
|
1.
|
Details of the person discharging managerial responsibilities
(PDMR) / person closely associated
|
|
a)
|
Name
|
James Mead
|
|
2.
|
Reason for the notification
|
|
a)
|
Position / status
|
Chief Operating
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, 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
|
|
b)
|
Nature of the
transaction
|
Grant of options under the Redx All
Employee Share Option Scheme
|
|
c)
|
Prices(a) and
volume(s)
|
|
Exercise Price per Ordinary
Share
|
Volume
|
|
19 pence
|
200,000 Ordinary
Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the
transaction
|
23 February 2024
|
|
f)
|
Place of the
transaction
|
Outside a trading
venue
|
|
1.
|
Details of the person discharging managerial responsibilities
(PDMR) / person closely associated
|
|
a)
|
Name
|
Claire Solk
|
|
2.
|
Reason for the notification
|
|
a)
|
Position / status
|
General Counsel
|
|
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, 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
|
|
b)
|
Nature of the
transaction
|
Grant of options under the Redx All
Employee Share Option Scheme
|
|
c)
|
Prices(a) and
volume(s)
|
|
Exercise Price per Ordinary
Share
|
Volume
|
|
19 pence
|
200,000 Ordinary
Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the
transaction
|
23 February 2024
|
|
f)
|
Place of the
transaction
|
Outside a trading
venue
|
|
For
further information, please contact:
|
|
|
|
|
|
|
|
|
|
Redx
Pharma Plc
UK
Headquarters
Caitlin Pearson, Head of
Communications ir@redxpharma.com
|
T: +44 (0)1625 469 918
|
|
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. Redx aims to progress its programmes 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 is undergoing a Phase 2a trial for idiopathic pulmonary
fibrosis (IPF) with topline data expected in H1 2024. The Company's
second fibrosis candidate, RXC008, a GI-targeted ROCK inhibitor for
the treatment of fibrostenotic Crohn's disease, is progressing
towards the clinic with a Clinical Trial Application (CTA)
submitted during Q4 2023. 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
anti-PD-1 combination Phase 2 data during the first half of 2024,
following which Redx will seek a partner for ongoing
development.
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
wholly-owned clinical-stage product candidates and discovery
pipeline, but also by its strategic transactions, which includes
the sale of pirtobrutinib (RXC005, LOXO-305), the only non-covalent
or reversible BTK inhibitor now approved by the US FDA, and
transactions with both AstraZeneca and Jazz
Pharmaceuticals.
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