26 February 2025
ONDINE BIOMEDICAL INC.
("Ondine Biomedical", "Ondine", or the "Company")
Grant of Options
Ondine Biomedical Inc. (LON: OBI), a Canadian life sciences company pioneering light-activated antimicrobial treatments, announces the grant of stock options to two key executives as part of the Company's ongoing commitment to attracting and retaining top-tier leadership.
On 25 February 2025, Ondine awarded a total of 9,315,286 options to subscribe for new common shares in the Company ("Options") to Dr. Nicolas Lobel, in recognition of his significant contributions to the development and advancement of Ondine's cutting-edge photodisinfection technology, and to Michael Behlke as part of his long-term compensation package. Details of the Options are as follows:
| Director | Position | Options granted | Exercise price | Total options now held |
| Dr. Nicolas Loebel | President & Chief Technology Officer | 6,000,000 | 11.25 pence | 9,575,000 |
| Michael Behlke | Chief Financial Officer & Chief Operating Officer (PDMR) | 3,315,286 | 11.25 pence | 3,315,286 |
The Options all have an exercise price of 11.25 pence, being the closing share price on 21 February 2025 (the "Approval Date"), the day on which the grant of Options was approved by the Board. The Options vest evenly over a period of 3 years from the Grant Date, with a third vesting on each of the three successive anniversaries of the Grant Date, and can be exercised for a period of eight years from the Grant Date.
Following the grant of Options, the Company has 22,420,286 options to subscribe for new common shares outstanding, which represents 5.07% of the Company's current issued share capital.
The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulations, are appended below.
Carolyn Cross, Ondine's Chief Executive Officer, commented:
"We are pleased to recognize the dedication and expertise of our leadership team. These option grants mark a key step in aligning leadership incentives with Ondine's long-term success.
"As we continue to expand our global footprint and advance our breakthrough infection prevention solutions, these options serve as a reflection of our commitment to driving shareholder value and attracting and retaining top talent."
The newly granted stock options will vest over 3 years, ensuring continued alignment with the Company's strategic objectives and long-term growth plans.
Enquiries, please contact:
| Ondine Biomedical Inc. | |
| Carolyn Cross, CEO | Via Vane Percy & Roberts |
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Strand Hanson Limited (Nominated & Financial Adviser) |
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| James Harris, Richard Johnson | +44 (0)20 7409 3494 |
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| RBC Capital Markets (Broker) |
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| Rupert Walford, Kathryn Deegan | +44 (0)20 7653 4000 |
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| Vane Percy & Roberts (Media Contact) | |
| Simon Vane Percy, Amanda Bernard | +44 (0)77 1000 5910 |
About Ondine Biomedical Inc.
Ondine Biomedical Inc. is a Canadian life sciences company and leader in light-activated antimicrobial therapies (also known as 'photodisinfection'). Ondine has a pipeline of investigational products, based on its proprietary photodisinfection technology, in various stages of development.
Ondine's nasal photodisinfection system has a CE mark in Europe and is approved in Canada and several other countries under the name Steriwave®. In the US, it has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA and is currently undergoing clinical trials for regulatory approval. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns and other indications.
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. Nicolas Lobel 2. Michael Behlke | |||||||||
| 2. | Reason for the Notification | ||||||||||
| a) | Position/status | 1. President and CTO (PDMR) 2. CFO and COO (PDMR) | |||||||||
| b) | Initial notification/Amendment | Initial notification | |||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | Ondine Biomedical Inc. | |||||||||
| b) | LEI | 9845005B69E07CGF4A56 | |||||||||
| 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
| Options to subscribe for Common Shares | |||||||||
| Identification code | ISIN: CA68234M2058 | ||||||||||
| b) | Nature of the transaction | Grant of options to subscribe for common shares of no par value | |||||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information: ·Aggregated volume ·Price | N/A
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| e) | Date of the transaction | 25 February 2025 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
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