RNS Number : 1855E
Redx Pharma plc
23 February 2024
 

REDX PHARMA PLC

("Redx" or the "Company")

New Grant of Options


Alderley Park, UK, 23 February 2024 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, today announces a new grant of options.

The Board has granted additional options to Lisa Anson (Chief Executive Officer), Peter Collum (Chief Financial Officer), James Mead (Chief Operating Officer) and Claire Solk, (General Counsel) on 23 February 2024, all 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 19 pence per Ordinary Share, being the market price at the close of business on 22 February 2024. Subsequent vesting will be subject to certain time criteria having been met. 

 

Name 

Position 

Number of Options Granted 

Vesting Date 

Total Options Held Following the Grant 

Lisa Anson (Director/PDMR) 

Chief Executive Officer 

2,000,000

23 February 2027 

 

16,883,586






Peter Collum

(PDMR) 

Chief Financial Officer 

1,000,000

 

23 February 2027 

 

4,200,000

James Mead

(PDMR)

Chief Operating Officer 

200,000 

23 February 2027 

 

 2,700,000

Claire Solk

(PDMR)

General Counsel

200,000

23 February 2027 

 

1,450,000

 

In addition, options over a further 1,050,000 Ordinary Shares of 1 pence each have been granted on 23 February 2024 to certain other staff of the Company. These options will also be granted at 19 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 47,929,627 Ordinary Shares, representing 12.3 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 / 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, type of instrument 

 

Identification code 

Options over Ordinary Shares of 1 pence each in Redx Pharma plc 

 

ISIN for Redx Pharma plc Ordinary Shares: 

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 Share 

Volume 

19 pence 

2,000,000 Ordinary Shares 

 

 

d) 

Aggregated information 

- Aggregated volume 

- Price 

 

N/A 

e) 

Date of the transaction 

23 February 2024 

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 / 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, type of instrument 

 

Identification code 

Options over Ordinary Shares of 1 pence each in Redx Pharma plc 

 

ISIN for Redx Pharma plc Ordinary Shares: 

GB00BSNB6S51 

 

b) 

Nature of the transaction 

Grant of options

c) 

Prices(a) and volume(s) 

 

Exercise Price per Ordinary Share 

Volume 

19 pence 

1,000,000 Ordinary Shares 

 

 

d) 

Aggregated information 

- Aggregated volume 

- Price 

 

N/A 

e) 

Date of the transaction 

23 February 2024 

f) 

Place of the transaction 

Outside a trading venue 

 

 

1. 

Details of the person discharging managerial responsibilities (PDMR) / person closely associated 

a) 

Name 

James Mead

 

2. 

Reason for the notification 

a) 

Position / status 

Chief Operating Officer 

 

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, type of instrument 

 

Identification code 

Options over Ordinary Shares of 1 pence each in Redx Pharma plc 

 

ISIN for Redx Pharma plc Ordinary Shares: 

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 Share 

Volume 

19 pence 

200,000 Ordinary Shares 

 

 

d) 

Aggregated information 

- Aggregated volume 

- Price 

 

N/A 

e) 

Date of the transaction 

23 February 2024 

f) 

Place of the transaction 

Outside a trading venue 

 

 

1. 

Details of the person discharging managerial responsibilities (PDMR) / 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, type of instrument 

 

Identification code 

Options over Ordinary Shares of 1 pence each in Redx Pharma plc 

 

ISIN for Redx Pharma plc Ordinary Shares: 

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 Share 

Volume 

19 pence 

200,000 Ordinary Shares 

 

 

d) 

Aggregated information 

- Aggregated volume 

- Price 

 

N/A 

e) 

Date of the transaction 

23 February 2024 

f) 

Place of the transaction 

Outside a trading venue 

 

 

 

 

For further information, please contact:



 




 

Redx Pharma Plc

UK Headquarters

Caitlin Pearson, Head of Communications ir@redxpharma.com

 

T: +44 (0)1625 469 918

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/ Satheesh Nadarajah/ David Wilson




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, targeted therapeutics for the treatment of fibrotic disease, cancer and the emerging area of cancer-associated fibrosis. Redx aims to progress its programmes 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 is undergoing a Phase 2a trial for idiopathic pulmonary fibrosis (IPF) with topline data expected in H1 2024. The Company's second fibrosis candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is progressing towards the clinic with a Clinical Trial Application (CTA) submitted during Q4 2023. 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 anti-PD-1 combination Phase 2 data during the first half of 2024, following which Redx will seek a partner for ongoing development.

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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 wholly-owned clinical-stage product candidates and discovery pipeline, but also by its strategic transactions, which includes the sale of pirtobrutinib (RXC005, LOXO-305), the only non-covalent or reversible BTK inhibitor now approved by the US FDA, and transactions with both AstraZeneca and Jazz Pharmaceuticals. 

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

 

 

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