Business
Update on Cell Therapy and Calon Discussions
Update on Cell Therapy and Calon Discussions.
About this update from Ashington Innovation Plc
[{"type":"text","content":"\n\nPress Release\n \n5 September 2023\n \nAshington Innovation plc\n \n(\"Ashington\" or \"the Company\") \n \nUpdate on Cell Therapy Ltd and Calon Cardio-Technology Ltd Discussions\n \nChange of Broker\n \nAshington Innovation plc (LSE: ASHI; FSE: 6FW), a special purpose acquisition company, announces that further to the announcement of August 24, the Company continues to pursue negotiations to acquire Cell Therapy Limited ('Cell Therapy') and Calon Cardio-Technology Limited ('Calon') in accordance with the signed heads of terms.\n \nBy way of clarification, the proposed acquisition of Calon is dependent on a successful close of the Cell Therapy transaction. However, the proposed acquisition of Cell Therapy is not dependent on an acquisition of Calon.\n \nAshington can confirm that discussions have continued between the parties and that the Company is continuing its formal due diligence process. As no binding agreement has yet been reached, the Company cannot guarantee that either proposed acquisition will complete. \n \nAshington also announces that following a breach of confidentiality by its broker, SI Capital, the appointment of SI Capital has been terminated and the Company is seeking to appoint a new sole broker experienced in the transactions being considered which is in line with its broader strategy to create a material regenerative medicine group.\n \nThe Company will provide further updates as and when appropriate.\n \nFor further information please contact:\n \n\n\n\nAshington Innovation plc\n\n\n\n\n\n\n\nDavid Orchard\nGeneral Counsel\n\n\nvia Tancredi +44 207 887 7633\n\n\n\n\nTancredi Intelligent Communication\nMedia Relations\n\n\n\n\n\n\n\nHelen Humphrey\nCharlie Hobbs\nJasmine Gadhavi\[email protected]\n\n\n+44 7449 226 720\n+44 7897 557 112\n+44 7931 435 236\n\n\n\n \nAbout Ashington Innovation plc\nAshington Innovation PLC is a special purpose acquisition company (SPAC), formed with the intention of acquiring businesses operating in the technology sector.\n \nThe Company believes that in the increasingly fast-changing global environment there will be an abundance of opportunities to acquire existing businesses in the technology sector, and in particular businesses that possess and utilise proprietary technologies and...