First Day of Dealings

RNS Number : 5588Y

Genflow Biosciences PLC

17 January 2022

 

NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA, OR ANY PROVINCE OR TERRITORY THEREOF OR TO OR FOR THE ACCOUNT OF ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES OR ANY PERSON RESIDENT IN AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA.

17 January 2022

Genflow Biosciences Plc

("Genflow Biosciences" or "the Company")

First day of dealings

Admission to the Official List

Genflow Biosciences Plc ("Genflow" or " the Company"), a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age, is pleased to announce that share dealings in its ordinary shares of £0.0003 each ("Ordinary Shares") will commence on the main market of the London Stock Exchange from 8am today under the ticker symbol GENF.

The Company has been admitted to the standard segment of the Official List following an oversubscribed placing of Ordinary Shares to raise £3.7 million before expenses for the Company.

Genflow Biosciences is the first longevity biotechnology firm to list in Europe and to join the London Stock Exchange.

A total of 47,036,500 Ordinary Shares (representing c16% of the Company's issued share capital on Admission) were placed at 8 pence each, valuing Genflow Biosciences at a market capitalisation of £23.4 million.

Clear Capital Markets Ltd is acting as the broker to the Company.  

The purpose of the flotation is to raise the public profile and provide new funds for the Company's expansion and long-term growth.

Dr. Eric Leire, Founder and CEO of Genflow Biosciences, said: "Genflow Biosciences' debut on the London stock market is a major step in the Company's development and provides a strong foundation to carry out our long-term growth strategy. We are delighted with the strong support from a wide range of investors, to develop life-changing gene therapies to target the ageing process."

Company highlights

Genflow Biosciences was established in 2020 in order to develop therapies to allow people to live longer, healthier lives.

Genflow has assembled a team of leading experts in the longevity and gene delivery fields, with decades of experience in the biotechnology and pharmaceutical sectors. The team benefits from a proven track record of value creation and an important combination of technical gene therapy and entrepreneurial skills.

The Company is led, and was founded, by Dr. Eric Leire, who has two decades of experience in cell and gene therapy and has led several therapy companies, including Enochian Biosciences which is listed on the Nasdaq. Dr Leire has brought together experts in various fields within the longevity sector to establish a strong Scientific Advisory Board which will guide Genflow's pre-clinical and clinical programmes and provide external perspectives to steer its research and development strategies. 

Genflow's gene therapy approach represents a shift in the management of age-related diseases as it is singularly focused on healthy longevity and the development of a SIRT6 based therapy, as well as a holistic approach to the nine hallmarks of ageing, while initially focusing on the first four hallmarks. Longevity specialists typically look at just one hallmark, and therefore can only hope to solve elements of the problem.

The Company is headquartered in London and has a Belgian R&D subsidiary Genflow Biosciences, SRL ("Genflow BE"). Genflow BE's location enables it to benefit from the relatively low operating costs and from substantial (non-diluting) grants that support its research and development that are available from Belgium's Wallonia region.

Genflow has the benefit of two patent applications in relation to: (i) a SIRT6 gene mutation found in centenarians (being those humans that live over 100 years ("Centenarians")) which the Directors believe has the potential to enhance both health span and possibly life expectancy, pursuant to an exclusive licence agreement entered into with the University of Rochester with Genflow Biosciences SRL; and (ii) the method of administration and delivery of the Company's product into humans and dogs.

Total Voting Rights

The total number of Ordinary Shares in the Company in issue immediately following Admission will be 292,506,618 each with equal voting rights.

The total voting rights figure can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change of their interest in, the Company under the Disclosure, Guidance and Transparency Rules of the Financial Conduct Authority.

The Company's Admission Document can also be found at https://genflowbio.com/ .

For further information please contact:

Genflow Biosciences
Dr Eric Leire Chief Executive	via Tancredi [phone]
Clear Capital Markets Ltd
Corporate Broker   Jonathan Critchley Keith Swann	[phone] [phone]
Tancredi Intelligent Communication Media Relations
Salamander Davoudi Helen Humphrey Benedetta Negri da Oleggio [e-mail]	[phone] [phone] [phone]

 

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