OTCQB Application

RNS Number : 6615W

Genflow Biosciences PLC

19 April 2023

 

19 April 2023

Genflow Biosciences Plc

("Genflow" or "the Company")

Application for Trading on US OTCQB Venture Market

The board of Genflow is pleased to announce that the Company has submitted an application for trading of the Company's ordinary shares ("Ordinary Shares") on the OTCQB Venture Market in the United States.

Trading on the OTCQB market will allow Genflow to access one of the world's largest investment markets, and expand its reach to a broader pool of investors thus creating the potential for greater liquidity in its Ordinary Shares. Ordinary Shares will, upon successful trading on the OTCQB, be available to US investors, during US trading hours, priced in US dollars, thereby easing cross-border trading.

Given the secure financial position in which the Company current finds itself, there is no capital raise required or associated with Genflow's trading on the OTCQB market and the Ordinary Shares will continue to trade on the Main Market of the London Stock Exchange, under the ticker GENF.

Importance of the US

The US is an important jurisdictional focus for the Company as it is at the forefront of longevity advancements.  Trading on the OTCQB will also provide the Company with a  platform to showcase its innovative solutions and technologies to a wider audience, raising its profile and increasing visibility within the global biotech industry.

The platform will also enable Genflow to tap into the expertise and resources of the US market, including access to potential strategic partners, assisting with the acceleration of the Company's growth and development.

In the US, the Company already has close ties with the University of Rochester in New York, through Vera Gorbunova, a member of the Company's Scientific Advisory Board ("SAB"), as well as the Buck Institute based in California through Eric Verdin, also a member of the SAB. These partnerships provide the Company with valuable access to cutting-edge research and expertise in the field of longevity. As such, the advancement onto the OTCQB emphasises the commitment to leveraging these relationships and expanding the Company's presence in the US.

61.5% of the world's longevity-focused companies are located in the US, compared to just 17.3% in Europe and 9.8% in Asia.  Examples of US companies operating in this space include Altos Labs and Alphabet Inc.

Eric Leire, CEO of Genflow, remarked:  "As a board we are keen to grow the Company's investor base, particularly in the US, and thus, continually improve liquidity.

The forefront of advancements in the longevity sector occur in the US and so it is naturally an ambition of ours to increase Genflow's exposure there.  Investments and interest in this sector by high profile  names including Larry Page and Jeff Bezos, have increased investor curiosity and appetite."

Further Information on Genflow's application and the OTCQB Market below:

As a Foreign Private Issuer, Genflow's onboarding to the OTC Markets is based on satisfaction of the requirements for OTCQB as applicable to international reporting companies including satisfaction of the criteria for the exemption under the US Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule 12g3-2(b) exemption includes the disclosure obligation to ensure that certain information made public or distributed under home market regulations is made publicly available on the Company's website or other electronic information delivery system in English. Thus, the Company will have no additional reporting obligations and incur minimal ongoing costs, compared to traditional major exchanges.

As a verified market, the OTCQB offers transparent trading for companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Online brokers such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and E-trade all offer OTCQB trades. US investors can find real-time quotes, market information and access current Company news and developments on a Genflow dedicated page on the OTC Markets website after the application is completed .

Genfow has appointed Galanopoulos & Company as its OTCQB Sponsor.

Additional information about the OTCQB market can be found at:

www.otcmarkets.com/learn/market-101

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact:

Genflow Biosciences Plc
Dr Eric Leire Chief Executive Officer	[phone]
Clear Capital Markets
Corporate Broker  Jonathan Critchley	[phone]

About Genflow Biosciences

Genflow is a UK-based biotechnology company established in 2020. The Company is developing gene therapies designed to target the aging process and to reduce and delay the incidence of age-related diseases. This will be done through novel therapeutics targeting aging in humans by using adeno-associated virus ("AAV") vectors to deliver copies of the Sirtuin-6 ("SIRT6") gene variant that is found in centenarians into cells.

Its mission is to increase our understanding of the factors that control and impact lifespan. Genflow researches, develops, and commercialises therapeutic solutions to lengthen health span, the amount of time we live in good health, creating biological interventions that enable longer and healthier lives. Genflow is dedicated to the development and commercialisation of novel therapeutics targeting aging in dogs and humans. By treating aging, Genflow can contribute to a decrease in healthcare costs and lessen the emotional and societal burden that comes with an aging population.

To learn more visit www.genflowbio.com

 

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