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C4X Discovery completes £7m fundraise

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, JAPAN AND THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU. IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

C4X Discovery Holdings plc

("C4XD", "C4X Discovery" or the "Company")

Results of Placing

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.

A circular to shareholders convening the General Meeting is expected to be posted later today, 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 deepen our commercial capabilities and progress our growing pre-clinical asset portfolio.

I would like to thank our major shareholders 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 Admission of the Placing Shares to trading on AIM. It is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence at 8.00 a.m. on or around 3 April 2017.

The capitalised terms used in this announcement have the meaning as defined in the announcement published by the Company at 7.00 a.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.