RNS - Deal signed for $10.8m |
Looking good today, perhaps people have finally cottoned on that in the next few days they will sign a binding share purchase agreement for $10m and the mkt cap is only £5.75m. |
 Proposed Sale of Midkine Portfolio
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 announce the signing of a term sheet for the proposed sale of its wholly owned subsidiary Lyramid Pty Ltd ("Lyramid") to Pleiades Pharma Limited ("Pleiades") for a minimum consideration amount of US$10 million (the "Term Sheet"). Roquefort Therapeutics and Pleiades intend to sign a binding share purchase agreement (the "SPA") within 30 days, at which time further details of the transaction will be announced.
Principal Transaction Terms
The Term Sheet includes the following principal terms:
· Sale of 100% of the issued share capital of Lyramid to Pleiades;
· Minimum consideration amount of US$10 million consisting of equity in Pleiades, together with the potential for upfront cash;
· Completion is contingent inter alia on Pleaides completing a current fundraising round and finalising certain in-licensing transactions; and
· A 30-day exclusivity period to enable the signing of the SPA, which is currently at an advanced stage.
Post completion of the proposed transaction Roquefort Therapeutics will hold a material equity position in Pleiades, a private well-funded company with a portfolio of clinical assets and pre-clinical programs.
Midkine Portfolio
Lyramid holds the Company's Midkine patents for the mRNA and oligonucleotide programs and the exclusive licence for the antibody programs. Since acquiring Lyramid in 2021 for £1 million in consideration (50% in cash and 50% in shares), Roquefort Therapeutics has expanded the portfolio with the in-house development of the mRNA and oligonucleotide programs and completed pre-clinical development of the three modalities.
About Pleiades
Pleiades is a private company developing a portfolio of novel clinical and pre-clinical medicines and is led by Caroline Fontier, an experienced Pharma CEO with a track-record of completing more than US$750 million in trade sale exits to Big Pharma.
The signing of the Term Sheet replaces and supersedes the proposed antibody licensing partnership with PDC-CRO which was announced on 23 May 2024. PDC-CRO will remain a key strategic partner to Pleiades and Roquefort Therapeutics, and the preferred clinical research partner for the Middle East region.
The Company will provide shareholders with further updates regarding the progress of the SPA as appropriate.
Ajan Reginald, Roquefort Therapeutics CEO commented:
"The sale of Lyramid validates our strategy to acquire, develop and then to realise value through licensing and trade-sale transactions. This strategy is particularly important in the UK, where private company valuations typically exceed those of UK public biotech entities. Through this transaction we will capitalise on this valuation arbitrage and retain upside potential in the Midkine portfolio. Most importantly we gain a share of an exciting clinical portfolio being developed by a highly experienced team." |
cant get away from the fact that it is Death Spiral Financing
thats terminal for a shareprice atb
AVOID |
was going to look at this but yuk ! CLN Death Spiral financing.
no way |
STAT-6 siRNA Presentation at Advanced Therapy Development Congress
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 announce that the latest experimental results for its STAT-6 siRNA program will be presented at the Advanced Therapy Development Congress in London today.
STAT-6 siRNA Immunology / Oncology Medicine
siRNA therapeutics are an innovative new class of medicines based on RNA interference (RNAi), whereby a gene is downregulated by disrupting its messaging machinery, which was recognised with the 2006 Nobel Prize in Physiology or Medicine. Roquefort Therapeutics' siRNA programs target STAT-6. Signal Transducer and Activator of Transcription (STAT) proteins are both signalling proteins and transcription factors that play a role in cell growth, differentiation and function. STAT-6 is a key nodal transcription factor that selectively mediates downstream signalling of IL-4 and IL-13, dominant and central cytokines in the pathophysiology of Type 2 inflammatory diseases[1].
As previously announced, Roquefort Therapeutic's siRNA programs have demonstrated in vivo proof of concept and efficacy in oncology. This new set of experiments investigated the use of the siRNA in the inflammation and immunology ("I&I") field. STAT-6 is a novel I&I target validated by Sanofi and Recludix Pharma through a significant ($100M) licensing transaction in 20231. Our preliminary experiments demonstrated a significant reduction in the levels of total STAT-6.
Presentation of STAT6 siRNA results at the Advanced Therapy Development Congress
At the Advanced Therapy Development Congress today, the Company will present the new results of the STAT-6 siRNA experiments in the I&I indication in a scientific presentation titled Development of First-In-Class Advanced Therapies For Immunology and Oncology.
The results presented today show that in a validated THP-1 model of I&I disease, the STAT-6 siRNA dampened the immune response. Following IL-4 stimulation, the THP-1 cells were treated with siRNA eliciting an ~10 fold reduction in total STAT-6 with a corresponding reduction in phospho-STAT-6 and modification of the key biomarkers CCL-17 and CD-23.
Roquefort Therapeutics CEO Ajan Reginald commented:
"The results presented today highlight the Company's internal research and development expertise in the Immunology and Inflammation field and the potency of our siRNA program, in the highly attractive STAT-6 niche. A number of leading Biotech companies have focused their research in the STAT-6 field and so, we sought advice and designed our experiments based on feedback from our potential Pharma partners. The results demonstrate our siRNA is highly competitive in a head-to-head comparison with the leading STAT-6 companies, with potentially better absolute efficacy.
These are the types of results we were seeking to validate our business model of discovering early breakthrough innovation from which we develop medicines that are highly attractive to Big Pharma. We are progressing with the Company's near-term imperative, which remains, to complete meaningful partnerships with one or more Big Pharma companies." |
Getting there slowly |
Nobel Prize goes to microRNA work! |
2 September 2024
Grant of MK Cell Patent & Licencing Update
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, confirms that the European Patent Office has granted the patent for its Mesodermal Killer ("MK") cell therapy, across 39 counties including the UK and EU[i] |
Still the Bel of the ball |
zico the Clown STrikes Again!! |
Hello. They need to find around $22m first including drill costs to allow for a drill in Q1 of 2025 as new push back. Completely missed out on this article? Bad project economics due to coming to you soon oversupply & pittance pricesToday |
Bargain down here potentially with so much to come! |
purple11 the biggest clown on advfn forums showing his true colours again.
Hey M U P P E T like a lot of traders i also sold them on Friday for a quick trade.
You being a pathetic idiot think i still have them , shows how STUPID you really are.
Get a life thicko. |
INDI's doing well
only down 6% today.
i dont know how you manage to stay in the game |
WOW
purple is the biggest clown on the advfn forums
Get a life troll , you're just a 2 bit trader that buys after me.
Share price will take off upon further news regarding the deal , the company will soon receive upfront payment of between $1.25m and $2.5m.
Yesterday there were lots of buys sub 5p including mine. |
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