Redx Pharma plc New Grant of Options (4626E)

TIDMREDX

RNS Number : 4626E

Redx Pharma plc

30 June 2023

REDX PHARMA PLC

("Redx" or the "Company")

New Grant of Options

Alderley Park, UK, 30 June 2023 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, a nnounces a new grant of options.

The Board has granted additional options to Lisa Anson (Chief Executive Officer) and Peter Collum (Chief Financial Officer) on 30 June 2023, both 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 26.5 pence per Ordinary Share, being the market price at the close of business on 29 June 2023. Subsequent vesting will be subject to certain time criteria having been met.

 
Name               Position          Number of Options  Vesting Date  Total Options 
                                      Granted                          Held Following 
                                                                       the Grant 
Lisa Anson         Chief Executive 
 (Director/PDMR)    Officer          500,000            30 June 2026  14,883,586 
 
Peter Collum       Chief Financial 
 (PDMR)             Officer          500,000            30 June 2026  3,200,000 
 
 

In addition, options over a further 2,000,000 Ordinary Shares of 1 pence each will be granted on 30 June 2023 to certain other staff of the Company. These options will also be granted at 26.5 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 48,221,295 Ordinary Shares, representing 14.4 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       Initial notification 
     / Amendment 
    -------------------------  ------------------------------------------------------ 
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         Options over Ordinary Shares of 1 pence 
     financial instrument,      each in Redx Pharma plc 
     type of instrument 
                                ISIN for Redx Pharma plc Ordinary Shares: 
     Identification code        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  Volume 
                                  Share 
                                 26.5 pence                   500,000 Ordinary Shares 
                                                              ----------------------- 
    -------------------------  ------------------------------------------------------ 
d)  Aggregated information 
     - Aggregated volume         N/A 
     - Price 
    -------------------------  ------------------------------------------------------ 
e)  Date of the transaction    30 June 2023 
    -------------------------  ------------------------------------------------------ 
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       Initial notification 
     / Amendment 
    -------------------------  --------------------------------------------- 
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         Options over Ordinary Shares of 1 pence 
     financial instrument,      each in Redx Pharma plc 
     type of instrument 
                                ISIN for Redx Pharma plc Ordinary Shares: 
     Identification code        GB00BSNB6S51 
    -------------------------  --------------------------------------------- 
b)  Nature of the transaction  Grant of options 
    -------------------------  --------------------------------------------- 
c)  Prices(a) and volume(s)     Exercise Price per  Volume 
                                  Ordinary Share 
                                 26.5 pence          500,000 Ordinary Shares 
                                                     ----------------------- 
    -------------------------  --------------------------------------------- 
d)  Aggregated information 
     - Aggregated volume         N/A 
     - Price 
    -------------------------  --------------------------------------------- 
e)  Date of the transaction    30 June 2023 
    -------------------------  --------------------------------------------- 
f)  Place of the transaction   Outside a trading venue 
    -------------------------  --------------------------------------------- 
 
 
 For further information, please 
  contact: 
 
 Redx Pharma Plc                                 T: [phone] 
  UK Headquarters                                 918 
  Caitlin Pearson, Head of Communications 
  [e-mail] 
  Lisa Anson, Chief Executive Officer 
 
   US Office 
   Peter Collum, Chief Financial Officer 
 
 SPARK Advisory Partners (Nominated Adviser)     T: [phone] 
 Matt Davis/ Adam Dawes 
 
 WG Partners LLP (Joint Broker)                  T: [phone] 
 Claes Spång/ Satheesh Nadarajah/ David 
  Wilson 
 
 Panmure Gordon (UK) Limited (Joint Broker)      T: [phone] 
 Rupert Dearden/ Freddy Crossley/ Emma Earl 
 
 FTI Consulting                                  T: [phone] 
 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, aiming initially to progress them 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 commenced a Phase 2a trial for idiopathic pulmonary fibrosis (IPF) in October 2022, with topline data expected in Q1 2024. 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 combination with anti-PD-1 Phase 2 data during 2023. Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is progressing towards a CTA application at the end of 2023.

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 two wholly-owned clinical-stage product candidates and rapidly expanding pipeline, but also by its strategic transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a non-covalent (reversible) BTK inhibitor now approved by the US FDA for adult patients with mantle cell lymphoma previously treated with a covalent BTK inhibitor, and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic diseases including IPF, which AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals, which includes JZP815, a pan-RAF inhibitor developed by Redx which Jazz is now progressing through Phase 1 clinical studies, and an early stage oncology research collaboration.

To subscribe to Email Alerts from Redx, please visit: www.redxpharma.com/investor-centre/email-alerts/ .

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June 30, 2023 02:00 ET (06:00 GMT)