Theracryf PLC Chronos Integration Update

RNS Number : 9116M

Theracryf PLC

02 May 2024

 

TheraCryf plc

("TheraCryf", the "Company" or the "Group")

 

Update on integration of acquired company Chronos Therapeutics Limited

 

Alderley Park, 2 May 2024 - TheraCryf plc (AIM: TCF), formerly Evgen Pharma plc, the clinical stage drug development company focussing on oncology and neuropsychiatry, provides an update on the integration of Chronos Therapeutics Ltd (Chronos) further to the announcements on 19^th March and 25^th April 2024. This update follows the acquisition, accompanying placing and results of the Company's general meeting approving the issuance of shares and, as of 25 April 2024, the change of name to TheraCryf plc and the AIM ticker to TCF.

The following actions have taken place to date:

·    Transaction effective from 5 April 2024

·    Former Chronos shareholders received 62'291'778 shares as the first consideration

·    Transition of Chronos to a wholly owned affiliate of TheraCryf complete

·    Board members of Chronos stepped down as pre-agreed

·    Toni Haenninen and Dr Huw Jones appointed directors of Chronos effective 19 April 2024

·    Email and website (www.theracryf.com) transition complete

·    Transfer of records, technical study reports and financial systems well advanced

 

Dr Huw Jones, CEO of TheraCryf, said

"Many thanks to the TheraCryf team for executing the transition in a speedy and efficient way. I would also like to thank the members of the board of Chronos for their important part in the transaction and the transition of Chronos to become part of the TheraCryf Group.

"We strongly believe that having additional scale and a broadened pipeline of development programmes will enhance shareholder value considerably. We are focussed on our entire portfolio, comprising our SFX-01 programme in glioblastoma and autism, our Orexin-1 antagonist in impulsivity and addiction, and our atypical DAT inhibitor in fatigue and narcolepsy. In common with the non-dilutive funding already in place for SFX-01 in glioblastoma, we are actively seeking non-dilutive funding for our acquired programmes."

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- Ends-

 

Enquiries

TheraCryf plc Dr Huw Jones, CEO  Toni Hänninen, CFO Dr Helen Kuhlman, CBO	[phone] [e-mail]
Cavendish Capital Markets (NOMAD and Broker) Geoff Nash / Teddy Whiley / Rory Sale (Corporate Finance) Nigel Birks / Harriet Ward (ECM)	[phone]
Instinctif Partners Melanie Toyne-Sewell / Jack Kincade	[phone] [e-mail]

 

About TheraCryf plc 

TheraCryf plc (formerly known as Evgen plc) is a clinical stage drug development company focussing on oncology and neuropsychiatry. The Company has a broad clinical and preclinical pipeline in indications such as neurodevelopmental disorders, glioblastoma*, addiction, anxiety and narcolepsy* [*orphan indications].

The Company's lead clinical asset, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin and has undergone clinical trials for oestrogen-positive (ER+) metastatic breast cancer and most recently, a Phase 1b study of the Company's new enteric coated tablet formulation. The FDA has granted Orphan Drug status to SFX-01 in malignant glioma. SFX-01 will be investigated initially in this indication as an investigator sponsored study in the Netherlands funded via a grant from the Netherlands government to the Erasmus Medical centre, Rotterdam.

In April 2024, TheraCryf acquired neuropsychiatry company, Chronos Therapeutics Limited. The acquired assets comprise an orexin-1 antagonist (Ox-1) in late pre-clinical development targeting impulsivity and anxiety disorders and an atypical dopamine transporter inhibitor (DAT) also in late pre-clinical development for fatigue, e.g. due to long COVID or multiple sclerosis and the orphan condition narcolepsy.

The Company's strategy is to generate compelling data sets to proof of concept and/or later phase II to partner its clinical programmes with mid-size to large pharma. As well as a number of industry partnerships with companies, including Stalicla, in neurodevelopment disorders and has sourced programmes from companies such as Takeda and Shire, the Company has worked with and has ongoing collaborations with major universities, hospitals and government organisations such as the University of Manchester, Sapienza (Università di Roma), Kings College London and University of Connecticut.

The Company has its headquarters and registered office at Alderley Park, Cheshire. It is listed on AIM in London and trades under the ticker symbol TCF. 

For further information, please visit: www.theracryf.com

 

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