28th Jan 2022 07:00
REDX PHARMA PLC
("Redx" or "the Company")
New Grant of Share Options
Alderley Park, UK, 28 January 2022 Redx (AIM:REDX), the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, highly targeted therapeutics for the treatment of cancer and fibrotic disease, announces the grant of share options to certain Directors and new staff of the Company under the Redx Directors Share Option Scheme (as adopted on 30 June 2021) and the All Employee Share Option Scheme (as adopted on 1 July 2020) respectively.
The options are being granted with an exercise price of 81 pence per share, being the closing price on 27 January 2022.
The Board has authorised the award of options to the following Directors and PDMR on 28 January 2022:
Name | Position | Number of Options | Vesting Date | Total Options following the grant |
Dr Jane Griffiths (Director/PDMR) | Chair and Non-Executive Director
| 133,333 133,333 133,334
| 28 January 2023 28 January 2024 28 January 2025 | 400,000 |
Dr Rob Scott (Director/PDMR) | Non-Executive Director | 66,667 66,667 66,666
| 28 January 2023 28 January 2024 28 January 2025 | 200,000 |
Claire Solk (PDMR) | General Counsel | 166,667 166,667 166,666
| 28 January 2023 28 January 2024 28 January 2025
| 500,000 |
In addition, options over 1,000,000 ordinary shares of 1p each have been granted on 28 January 2022 to certain new staff of the company on similar terms to those above.
Following the grants referred to above, the Company will have granted options over a total of 35,060,437 Ordinary Shares representing 12.7 per cent. of the current total issued share capital. 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.
For further information, please contact: | |
Redx Pharma Plc
UK Headquarters Lisa Anson, Chief Executive Officer | T: +44 (0)1625 469 918 |
US Office Peter Collum, Chief Financial Officer | |
SPARK Advisory Partners (Nominated Adviser) | T: +44 (0)203 368 3550 |
Matt Davis/ Adam Dawes | |
WG Partners LLP (Joint Broker) | T: +44 (0)203 705 9330 |
Claes Spång/ David Wilson/Satheesh Nadarajah | |
Panmure Gordon (UK) Limited (Joint Broker) | T: +44 (0)207 886 2500 |
Rupert Dearden/ Freddy Crossley/ Emma Earl | |
FTI Consulting | T: +44 (0)203 727 1000 |
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, highly targeted therapeutics for the treatment of cancer and fibrotic diseases, aiming initially to progress them to clinical proof of concept before evaluating options for further development and potential value creation. Redx's lead oncology product candidate, the Porcupine inhibitor RXC004, commenced a Phase 2 programme in November 2021. The Company's selective ROCK2 inhibitor product candidate, RXC007, is in development for idiopathic pulmonary fibrosis and commenced a Phase 1 clinical trial in June 2021. Initial results were reported in October 2021, with full Phase 1 results expected in 2022.
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 BTK inhibitor now in Phase 3 clinical development by Eli Lilly following its acquisition of Loxo Oncology and RXC006, a Porcupine inhibitor targeting fibrotic diseases including idiopathic pulmonary fibrosis (IPF), which AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals.
To subscribe to Email Alerts from Redx, please visit: www.redxpharma.com/investor-centre/email-alerts/
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Dr Jane Griffiths |
2. | Reason for the notification | |
a) | Position/status | Chair and Non-Executive Director |
b) | Initial notification/Amendment | Initial Notification |
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 financial instrument | Options over Ordinary Shares of 1p each |
b) | Identification code | ISIN: GB00BSNB6S51 |
c) | Nature of the transactions | Grant of options under the Redx Directors Share Option Scheme |
d) | Price(s) and volume(s) | Price: 81 pence per share Volume: 400,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 28 January 2022 |
f) | Place of the transactions | Off-market |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Dr Rob Scott |
2. | Reason for the notification | |
a) | Position/status | Non-Executive Director |
b) | Initial notification/Amendment | Initial Notification |
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 financial instrument | Options over Ordinary Shares of 1p each |
b) | Identification code | ISIN: GB00BSNB6S51 |
c) | Nature of the transactions | Grant of options under the Redx Directors Share Option Scheme |
d) | Price(s) and volume(s) | Price: 81 pence per share Volume: 200,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 28 January 2022 |
f) | Place of the transactions | Off-market |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Claire Solk |
2. | Reason for the notification | |
a) | Position/status | General Counsel |
b) | Initial notification/Amendment | Initial Notification |
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 financial instrument | Options over Ordinary Shares of 1p each |
b) | Identification code | ISIN: GB00BSNB6S51 |
c) | Nature of the transactions | Grant of options under the Redx All Employee Share Option Scheme |
d) | Price(s) and volume(s) | Price: 81 pence per share Volume: 500,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 28 January 2022 |
f) | Place of the transactions | Off-market |
Related Shares:
REDX.L