THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
BIVICTRIX THERAPEUTICS PLC
("BiVictriX" or the "Company")
Grant of Options
PDMR/Director Dealings
Alderley Park, 13 August 2024 - BiVictriX Therapeutics plc (AIM: BVX), a drug discovery and development company applying an innovative, proprietary approach to develop a new class of highly selective, next generation cancer therapeutics, bispecific antibody drug conjugates (Bi-Cygni® ADCs), which exhibit superior potency, whilst reducing treatment-related toxicities, announces a grant of options over an aggregate of 2,717,776 ordinary shares of 1 pence each in the capital of the Company (the "Options") to certain Directors/PDMRs of the Company.
The Options have an exercise price of 13 pence each, and will either vest over three years, or be subject to the achievement of strategic corporate and financial goals that the Board believes will create value for Shareholders. The Options will expire ten years from the date of grant.
The Options have been awarded upon the recommendation of the Company's Remuneration Committee and pursuant to the terms of the Company's Share Option Plan, which was updated and adopted on 28 March 2024.
As part of this review and grant of Options, 1,032,667 of Tiffany Thorn's previously awarded options, which were awarded at the time of the IPO in August 2021, and were aligned to performance criteria, have subsequently been cancelled due to the performance conditions assigned to them no longer being regarded as appropriate for the business.
The following Options have been granted to Directors/PDMRs of the Company:
| Director/PDMR | New Options granted | Options Cancelled | Total Options held |
| Tiffany Thorn | 2,197,776 | 1,032,667 | 6,862,109 |
| Susan Lowther | 200,000 | - | 200,000 |
| Oliver Schon | 320,000 | - | 1,136,333 |
Following this grant of Options, the total number of ordinary shares under option is 11,113,443, representing 13.5 per cent. of the Company's total issued share capital.
| ENDS |
| For more information, please contact:
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About BiVictriX Therapeutics plc
BiVictriX is a UK-based drug discovery and development company which is focused on leveraging clinical experience to develop a new class of highly selective, next generation cancer therapeutics which exhibit superior potency, whilst significantly reducing treatment-related toxicities.
The Company utilises a first-in-class approach to generate a proprietary pipeline of Bi-Cygni® Antibody Drug Conjugate therapeutics which are designed to selectively target cancer-specific antigen pairs, or "Bi-Cygni® fingerprints", on tumour cells, which are largely absent from healthy cells.
BiVictriX has established a growing proprietary library of cancer-specific Bi-Cygni® fingerprints, which enable the Company to target a diverse array of different cancer types. The Company utilises these novel Bi-Cygni® fingerprints, together with the Company's novel Antibody Drug Conjugate therapeutic design, to develop more effective and safer therapeutics to target cancers that are expected to constitute orphan indications and areas of high unmet medical need.
Find out more about BiVictriX online at www.bivictrix.com
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 / person closely associated | |||
| a) | Name | 1) Tiffany Thorn 2) Susan Lowther 3) Oliver Schon
| ||
| 2. | Reason for the Notification | |||
| a) | Position/status | 1) CEO
2) Non-Executive Director
3) VP, R&D
| ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | BiVictriX Therapeutics plc | ||
| b) | LEI | 213800ZI85IZNA6N3L53 | ||
| 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 | Ordinary Shares of 1 pence each GB00BNXH3K91 | ||
| Identification code | | |||
| b) | Nature of the transaction | Grant of Options | ||
| c) | Price(s) and volume(s) | All Options have an exercise price of 13 pence each
| ||
| d) | Aggregated information: - Aggregated volume - Price |
Volume: 2,717,776 Options
Exercise price of all Options: 13 pence each | ||
| e) | Date of the transaction | 13 August 2024 | ||
| f) | Place of the transaction | Outside a trading venue | ||
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