Termination of discussions with Yesod Bio-Sciences

RNS Number : 5811E

Redx Pharma plc

28 February 2020

 

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For immediate release

Redx Pharma plc

("Redx" or the "Company")

Termination of discussions with Yesod Bio-Sciences Limited ("Yesod")

Alderley Park, 28 February 2020 Redx Pharma (AIM: REDX), the drug discovery and development company focused on cancer and fibrosis notes the announcement made earlier this afternoon by Yesod that it does not intend to make an offer for the entire issued and to be issued share capital of Redx pursuant to Rule 2.7 of the Code.

The Board of Redx decided, after careful consideration, including extensive discussion with Moulton Goodies Limited, the Company's largest shareholder, that the possible offer from Yesod substantially undervalued the Company and its assets.

For further information, please contact:

Redx Pharma Plc	T: [phone]
Iain Ross, Chairman of the Redx Board of Directors Lisa Anson, Chief Executive Officer
James Mead, Chief Financial Officer
Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker)	T: [phone]
Phil Davies
WG Partners LLP (Joint Broker and Financial Adviser)	T: [phone]
Claes Spång/Chris Lee/David Wilson
FTI Consulting	T: [phone]
Simon Conway/Ciara Martin

About Redx Pharma Plc 

Redx is a UK based biotechnology company whose shares are traded on AIM ( AIM:REDX ). Redx's vision is to become a leading biotech focused on the development of novel precision medicines that have the potential to transform treatment in oncology and fibrotic diseases.

If you would like to sign up to regular alerts from Redx Pharma, please follow this link https://www.redxpharma.com/investors/email-alerts/

Notices related to financial adviser

Cantor Fitzgerald Europe, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Redx Pharma and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Redx Pharma for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

WG Partners LLP, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Redx Pharma and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Redx Pharma for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

 

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