Media

Results of Placing

C4X Discovery Holdings plc

(“C4XD”, “C4X Discovery” or the “Company”)

Results of Placing

18 September 2018 - 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 11,111,111 Placing Shares have been placed by Panmure Gordon (UK) Limited at the Issue Price of 90 pence per new Ordinary Share to raise a total of approximately £10.0 million for the Company (before expenses). The Placing Shares being issued represent approximately 23.9 per cent. of the issued ordinary share capital of the Company prior to the Placing. The Placing Price represents a discount of 1.1 per cent. to the Company’s mid-market closing price as at 17 September 2018, 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.

A circular to shareholders convening the General Meeting is expected to be posted by 6.00 p.m. tomorrow, and will also be available on the Company’s website at the same time at http://www.c4xdiscovery.com/investors.html. Panmure Gordon (UK) Limited is acting as financial adviser, nominated adviser and broker to the Company.

Clive Dix, CEO of C4X Discovery, stated on the successful Placing: “C4X Discovery's combination of state-of-the-art proprietary technologies, highly experienced scientific team, and industry experience uniquely positions us to fulfil the pharmaceutical industry's demand for high quality early-stage drug candidates. These additional funds will allow us to identify and exemplify more high value drug discovery targets in high unmet need diseases, develop market-leading compounds and out-license assets for clinical development.

I would like to thank our major shareholders, including Calculus Capital, for their continued support and welcome new investors to C4X Discovery. We are excited about the Company's progress and the future of UK drug discovery.”

Completion of the Placing remains subject, inter alia, to the passing of the Resolutions at the General Meeting and to the First Admission and Second Admission of the Placing Shares to trading on AIM. It is expected that dealings in the Eligible Shares will commence on 8 October 2018, and dealings in the General Placing Shares will commence on 9 October 2018.

The capitalised terms used in this announcement have the meaning as defined in the announcement published by the Company at 1.53 p.m. today unless otherwise stated.

The person responsible for arranging the release of this announcement on behalf of the Company is Bradley Richard Hoy, a director of the Company.