Genflow Biosciences PLC Announces Institutional Investment
Rhea-AI Summary
Genflow Biosciences (LSE:GENF/OTCQB:GENFF) has secured an institutional investment of £434,083 through a binding offer for 41,341,324 Ordinary Shares at 1.05p per share. The shares will be issued after April 9, 2025, with trading admission expected around April 10, 2025.
Company Director Eric Leire intends to invest an additional £50,000 under the same terms. Following the share issuance, the company's enlarged issued share capital will comprise 391,047,942 ordinary shares.
The funding, combined with previous government grants, will support Genflow's 2025 programs, particularly a newly launched proof-of-concept clinical trial evaluating their SIRT6-centenarian gene therapy in aged dogs. The trial will involve 28 dogs aged 10+ years, conducted with CRO Syngene, focusing on biological age estimation, muscle strength, muscle mass, mitochondrial function, coat quality, and overall health indicators over a 12-month period.
Positive
- Secured £434,083 in institutional investment
- Additional £50,000 investment commitment from Director Eric Leire
- Launch of proof-of-concept gene therapy trial in aged dogs
- Previous government grants support funding
- Partnership with renowned CRO Syngene for trial execution
Negative
- Share issuance will cause dilution for existing shareholders
- New shares cannot be issued until April 9, 2025 due to Prospectus Rules limitations
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Genflow Secures £434,083 from a Leading Institution and Launches a Gene Therapy Trial in Aged Dogs
LONDON, UNITED KINGDOM / ACCESS Newswire / March 26, 2025 / Genflow Biosciences Plc (LSE:GENF)(OTCQB:GENFF) ("Genflow" or "the Company") the only longevity company listed in Europe, is pleased to announce it has received a binding offer from a major institution for an equity investment totalling £434,083 (before expenses).
The investor has applied for 41,341,324 Ordinary Shares of £0.0003 each at a price of 1.05p (the "New Ordinary Shares"). The number of New Ordinary Shares applied for by the subscriber is the maximum number of shares (on a fully diluted basis) available to the Company to issue without the need to produce a Prospectus. These New Ordinary Shares cannot be issued until after 9 April 2025 when the Company's headroom, under the Prospectus Rules, increases.
An application will be made to the Main Market of the London Stock Exchange, and admission of the New Ordinary Shares to trading is expected on or around 10 April 2025 ("Admission"). The New Ordinary Shares will, when issued, rank pari passu with the Company's existing Ordinary Shares.
Director's Intended Participation
Eric Leire, a Director of the Company, intends to invest £50,000 on the same terms as the investment outlined above on the basis that such participation falls under the employee offer exemption under Article 1(4)(i) and 1(5)(h) of the UK Prospectus Regulation, and further, subject to the Company not being in a Closed Period at the time of such investment and the same being subject to the Company's share dealing policy.
A further announcement will be made in relation to this in due course.
Total Voting Rights
For the purpose of the Disclosure Guidance and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 391,047,942 ordinary shares. For the avoidance of doubt, this excludes any intended equity participation by Eric Leire.
The Company does not hold any shares in treasury. The above figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.
Tamara Joseph, Chair of the Company, commented "We are extremely pleased to have been approached by an institution who wishes to support Genflow in its journey in pioneering gene therapies to decelerate the aging process. The use of these proceeds will accelerate the Company's proposed studies and trials in aged dogs, an issue which has attracted a great deal of press coverage,including in recent weeks."
Use of Proceeds
This investment, combined with previously awarded government grants, will accelerate the Company's planned 2025 programs including launching a clinical trial in aged dogs.
Genflow has commenced a proof-of-concept clinical trial to evaluate the safety and efficacy of its proprietary SIRT6-centenarian gene therapy targeting age-related decline in dogs.
The Company will treat the dogs for 6 months and assess the safety and efficacy of our therapy for the following 6 months. This is a randomized, controlled trial with 28 dogs aged 10+ years, conducted with the renowned CRO, Syngene. Genflow will compare recipient dogs of intravenous injections of proprietary SIRT6 gene therapy versus untreated control group. Endpoints will include biological age estimation (via GRIM methylation clock), muscle strength, muscle mass, mitochondrial function, coat quality and overall health indicators.
"As a devoted dog owner myself, I have a 9-year-old golden retriever, I know firsthand the desire we all share for more happy, healthy years of with our beloved pets," said Dr. Eric Leire, CEO of Genflow. "Our goal is not just to extend their lifespan, but to enhance their quality of life. By targeting biological aging in dogs, we also can unlock groundbreaking insights that could revolutionize both veterinary and human medicine. This research has the potential to reshape the way we approach aging, offering hope for longer, healthier lives for all."
Further updates on the progress of the study will be provided in due course.
Contacts
Genflow Biosciences | Harbor Access |
Dr Eric Leire, CEO | Jonathan Paterson, Investor Relations |
+32-477-495-881 | +1 475 477 9401 |
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Corporate Broker |
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Capital Plus Partners Ltd | |
Jon Critchley, +44 0203 821 6168 |
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About Genflow Biosciences
Founded in 2020, Genflow Biosciences Plc. (LSE:GENF) (OTCQB:GENFF), a biotechnology company headquartered in the UK with R&D facilities in Belgium, is pioneering gene therapies to decelerate the aging process, with the goal of promoting longer and healthier lives while mitigating the financial, emotional, and social impacts of a fast-growing aging global population. Genflow's lead compound, GF-1002, works through the delivery of a centenarian variant of the SIRT6 gene which has yielded promising preclinical results. Expected to begin in 2025, Genflow's clinical trial aims to explore the potential benefits of GF-1002 in treating MASH (Metabolic Dysfunction-Associated Steatohepatitis), the most prevalent chronic liver disease for which there is no effective treatments. Please visit www.genflowbio.com and follow the Company on LinkedIn and Twitter/X.
DISCLAIMER
The contents of this announcement have been prepared by, and are the sole responsibility of, the Company.
This announcement may contain forward-looking statements. The forward-looking statements include, but are not limited to, statements regarding the Company's or the Directors' expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statement that refers to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "seek", "should", "would" and similar expressions, or in each case their negatives, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current expectations and assumptions regarding the Company, the business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements are not guarantees of future performance and the Company's actual financial condition, actual results of operations and financial performance, and the development of the industries in which it operates or will operate, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Company's financial condition, results of operations and the development of the industries in which it operates or will operate, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of financial condition, results of operations or developments in subsequent periods. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global, political, economic, social, business, technological, competitive, market and regulatory conditions.
Any forward-looking statement contained in this announcement applies only as of the date of this announcement and is expressly qualified in its entirety by these cautionary statements. Factors or events that could cause the Company's actual plans or results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which any forward-looking statement contained in this announcement is based, unless required to do so by applicable law, the Prospectus Regulation Rules, the Listing Rules, the Disclosure Guidance and Transparency Rules of the FCA or the UK Market Abuse Regulation.
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SOURCE: Genflow Biosciences PLC
View the original press release on ACCESS Newswire
FAQ
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