Nuformix PLC Appointment of Dr Karl Keegan (2813D)

TIDMNFX

RNS Number : 2813D

Nuformix PLC

18 February 2020

18 February 2020

Nuformix plc

("Nuformix" or "the Company")

Appointment of Dr Karl Keegan

Nuformix, the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs today announces the appointment of Dr Karl Keegan to the Board of Nuformix as a Non-Executive Director with immediate effect.

Karl has over 25 years of experience working in senior roles in the life sciences industry. He is currently Chief Executive Officer and Executive Board member at HOX Therapeutics Ltd, a private biotechnology company developing first-in-class, highly targeted cancer therapies based on HOX genes.

Karl spent 12 years as a highly regarded sell-side life sciences research analyst, researching and helping finance companies across the UK, Europe, USA and Canada. Since then, primarily in CFO roles, he has focused on corporate development, and has a successful track record of devising and implementing M&A and finance projects, delivering value across all aspects of business strategy, highlights include the sale of Minster pharmaceuticals plc to Proximagen plc, multiple financings to support a new strategy for Pharming Group NV and leadership of M&A deals at Vectura Group plc.

Karl graduated from University College Dublin, Ireland in 1988 with a B.Sc. in Pharmacology and gained M.Phil. and Ph.D. degrees (Pharmacology) from the University of Cambridge (UK) where he was funded by a Parke-Davis Research Scholarship. Following postdoctoral work at Baylor College of Medicine, Houston Texas, as a Society of Epilepsy Young Investigator, he worked at SmithKline Beecham PLC in both research and in Strategic Product Development for the Neuroscience therapy area. In 2005 he completed a M.Sc. in Finance at the London Business School, focussing on entrepreneurial finance and valuation of early stage businesses.

Dr Dan Gooding, Chief Executive Officer of Nuformix Plc, commented: "I am delighted to welcome Karl to the Nuformix Board. With his extensive experience in strategy, finance, corporate development and capital markets within life sciences, Karl brings a wealth of experience that is highly relevant to Nuformix at this moment as we enter new stages in the development of the Company and our assets."

The Company has entered into an agreement with Karl whereby Karl will be issued with warrants to subscribe for 3,000,000 new ordinary shares of 0.1 pence in the capital of the Company conditional upon Karl continuing to act as Non-executive director of the Company on 17 February 2021 ("Warrants"). The Warrants are exercisable from 17 February 2021 to 17 February 2023, at an exercise price of 6.75 pence per ordinary share.

Market Abuse Regulation (MAR) Disclosure. Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the publication of this announcement via a Regulatory Information Service and accordingly, this inside information is now considered to be in the public domain.

Enquiries:

 
 Nuformix plc 
  Dr Dan Gooding, Chief Executive 
  Officer 
  Email: [e-mail]             [phone] 
 
   Novum Securities Limited 
   Jon Belliss / Colin Rowbury         [phone] 
 

About Nuformix plc www.nuformix.com

Nuformix is a pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs. Nuformix's risk-mitigated development strategy has resulted in a pipeline of discoveries through which it has developed and patented novel cocrystal forms of approved small molecules.

Nuformix has created an IP portfolio of granted patents covering cocrystal forms of five small molecule drugs. Nuformix is targeting high-value unmet needs with its lead programmes in oncology supportive care: NXP001 and fibrosis: NXP002.

Nuformix was established in Cambridge in 2009 and has invested in pharmaceutical cocrystal R&D, establishing world-class capability and know-how in cocrystal discovery and development, yielding multiple product opportunities.

Nuformix plc shares are traded on the London Stock Exchange's Official List under the ticker: NFX.L.

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February 18, 2020 02:00 ET (07:00 GMT)