1.30 p.m. GMT, 14 March 2017 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering drug discovery company, is pleased to announce the completion of the Placing announced earlier today.
A total of 8,235,294 Placing Shares have been placed by Panmure Gordon (UK) Limited at a Placing Price of 85 pence per new Ordinary Share to raise a total of approximately £7.0 million for the Company (before expenses). The Placing Shares being issued represent approximately 22.0 per cent. of the issued ordinary share capital of the Company prior to the Placing. The Placing Price represents a discount of 7.1 per cent. to the Company's mid-market closing price as at 13 March 2017, being the last practicable day before the announcement of the Placing.
The net proceeds of the Placing receivable by the Company will be used to support the execution of its strategy of becoming the world's most productive, self-sustaining drug discovery engine by strengthening its balance sheet as partnering discussions and strategic collaborations progress, expanding its commercial capability and supporting working capital during the expansion of its pipeline portfolio.
22 November, 2016 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering drug discovery company, today announces that Brad Hoy, Chief Financial Officer (CFO), and Dr Craig Fox, Chief Scientific Officer (CSO), will join the Board of Directors with immediate effect. In addition, Brad Hoy has been appointed permanent CFO today following a period as interim CFO.
C4X Discovery Holdings plc (AIM: C4XD), an innovative drug discovery engine, today announces that the Company has entered into a multi-target, risk-sharing alliance ("the Agreement") with Evotec AG ("Evotec"), a leading drug discovery alliance and development partnership company. The new Agreement builds on the strategic collaboration between the two companies announced in January 2015 and will see C4XD and Evotec work together to develop new small molecule drugs across a range of targets, therapeutic areas and stages of development, with the initial programmes targeted towards the treatment of cancer and autoimmune diseases.
Calculus Capital Limited and Polar Capital LLP to join share register
C4X Discovery Holdings plc (AIM: C4XD), an innovative drug discovery engine, today announces that it has raised £5.0 million before expenses (the "Placing") via a conditional placing of 4,901,961 new ordinary shares (the "Placing Shares") to current and new investors, through Zeus Capital as nominated adviser and broker to the Company, at a placing price of 102p (the “Placing Price”) per ordinary share.
The company has acquired “a virtual library of over a billion molecules”, which should give the company a boost when it starts new discovery programmes.
According to Dr Clive Dix, the chief executive officer of C4X, the newly acquired software is “all about optimising those molecules that we find by using our other technologies”.
Dr Dix told Proactive Investors: “Everything we do is aimed at reducing the time and the cost of getting to the clinical trial and then … with the molecules we have being of higher quality, they’ll be more likely to be successful in the trials.”
The company will be starting new projects on a regular basis and when the time is right will decide on a case-by-case basis whether to bring in a partner or take the drugs to clinical trial independently.