27th Mar 2026 10:28
(Alliance News) - Roquefort Therapeutics PLC completed its name change to Coiled Therapeutics PLC and started trading on AIM on Friday, moving from the London Main Market.
The London-based clinical stage oncology company said it raised GBP8.5 million from the sale of 85.0 million new shares at 10 pence each as part of the move.
Coiled shares were last quoted at 9p per share on Friday, 10% lower than the fundraising price of 10p.
The funding provides a capital runway to reach key clinical and value inflection points relating to the development of AO-252 in 2026 and 2027, Coiled said. AO-252 is an oral small-molecule drug designed to block TACC3, a cancer target that is over-expressed in many aggressive tumours. The drug is able to cross the blood-brain barrier.
Coiled celebrated a "successful" transition from a pre-clinical platform to a "material" clinical-stage oncology company focused on precision medicine.
Executive Chair Sotirios Stergiopoulos said: "The fundraise will allow us to drive forward our dual indication strategy, which prioritises the expansion of our phase I trial into patients with prostate and ovarian cancers. These are areas where patients face a major lack of effective therapies after failing standard treatments. We believe AO-252's unique ability to target TACC3 and cross the blood-brain barrier offers a potential lifeline for these patients."
He added: "With the support of our new and existing shareholders, we have the necessary capital to accelerate these programmes and generate the material data readouts required to drive forward partnering discussions. By addressing these critical unmet medical needs, we are focused on reaching the key clinical inflection points that will drive our commercial strategy and create significant long-term value for our shareholders."
By Tom Budszus, Alliance News slot editor
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