First Day of Dealings on AIM after ?11m Placing

RNS Number : 0512V

C4X Discovery Holdings PLC

23 October 2014

 



C4X Discovery: First Day of Dealings on AIM following £11m Placing

Manchester and London, UK, 23 October, 2014 - C4X Discovery (C4XD),a drug development company with a leading technology for rational drug discovery and design, announced that Admission and trading of its Ordinary Shares commences today on the AIM market of the London Stock Exchange ('AIM').

The Company has successfully raised £11 million (before expenses) by placing 11 million ordinary shares with institutional and other investors at a placing price of 100 pence per ordinary share (the 'Placing'). C4XD's market capitalisation on admission, based on the placing price, is approximately £31 million.

Funds raised are exclusively for the Company and will principally be used to progress two of C4XD's programmes through to clinical trials, towards generating Proof of Concept in man as well as continuing to apply its technology to other high-value areas with high unmet medical need.

There are no selling shareholders pursuant to the Placing and approximately 64 per cent. of shareholders will be locked in for 12 months following admission and a further 12 months thereafter at the discretion of Zeus Capital, the Company's Nomad and sole broker.

C4XD has, we believe, the only technology in the world that can generate accurate, experimentally-derived dynamic solution 3D structures of drug molecules in just a matter of days. It can be used in conjunction with existing technologies for structure-based drug design and can make a particularly high impact when protein crystallography is not routinely available, as is the case for GPCRs and ion channels.

The technology can also be applied to help identify and generate novel crystal polymorph forms, with exciting potential applications in the life cycle management of existing branded pharmaceuticals.

C4XD is a University of Manchester spin-out. The Company's Admission Document can be found at: http://www.c4xdiscovery.com/

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For further information please contact:

C4X Discovery Holdings plc
Piers Morgan, CEO
Tel: [phone]

Zeus Capital - Nominated adviser and broker 
Corporate Finance

Ross Andrews / Dan Bate

Tel: [phone]

Institutional Sales

Dominic Wilson

Tel: [phone]

FTI Consulting - Financial PR adviser 
Matthew Cole / Ben Atwell / Matt Moss
Tel: [phone]

About C4X Discovery Ltd

C4X Discovery is a Manchester-based company focused on optimising drug discovery and design. It was founded in 2008 as a spin-out from the University of Manchester. The company uses its NMR-based technology to solve the dynamic 3D structures of a broad range of biomolecules, including peptides, cofactors, oligonucleotides and carbohydrates. Since C4X Discovery's NMR technology shows what shapes active molecules prefer to adopt, it provides high-quality templates for drug discovery and design, and valuable information for drug candidate optimisation. In addition, the data is generated faster and more reliably than standard techniques such as X-ray co-crystallography or molecular modelling. C4X Discovery is using its technology in collaboration with the pharmaceutical industry and to build its own proprietary pipeline of high-value therapeutic candidates.
www.c4xdiscovery.com

 

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