Business
Interim Results to 30 June 2021
Interim Results to 30 June 2021.
About this update from Coiled Therapeutics Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7722Q\n Roquefort Investments PLC\n 29 October 2021\n \n \n \n \n Roquefort Investments plc\n \n \n (\"Roquefort Investments\" or the \"Company\")\n \n \n \n \n \n Interim Results to 30 June 2021\n \n \n \n \n \n Roquefort Investments plc (LSE:ROQ), the London listed investment company established to acquire businesses focused on early-stage opportunities in the medical biotechnology sector, is pleased to present its interim results for the six-month period ended 30 June 2021.\n \n \n \n \n \n Highlights\n \n \n • Successfully admitted to trading on the London Stock Exchange (\"LSE\") as of 22\n \n March 2021\n \n \n • Cash Balance at period end of £880,445\n \n \n \n \n \n Chairman Statement\n \n \n \n I am pleased to present the interim financial statements to shareholders for the six months ending 30 June 2021.\n \n \n \n \n \n During the period under review the Company was primarily concerned with listing on the standard segment of the London Stock Exchange, which was successfully achieved on 22\n \n March 2021. The Company then turned its attention to identifying and screening suitable businesses focused on early-stage opportunities in the medical biotechnology sector.\n \n \n \n \n \n Post period end, on 29\n \n September 2021 we were delighted to announce that Roquefort Investments had entered into non-binding term sheet (\"Term Sheet\") with Provelmare Holding S.A. to acquire 100% of the total issued equity in Lyramid Limited (\"Lyramid\") for an initial consideration of £1 million payable 50% in cash and 50% in shares (the \"Transaction\"). Lyramid has the exclusive \n worldwide licence to commercialise up to 37 patents related to Midkine-based therapies for the treatment of COVID-19 patients, cancer, autoimmune disorders and chronic kidney disease (\"Midkine-Based Therapies\").\n \n \n \n \n \n The Directors of Roquefort Investments consider the Transaction to represent a transformational, value enhancing transaction for shareholders, which is fully aligned with the Company's growth strategy. Lyramid's global patent portfolio for Midkine-Based Therapies provides a platform to develop first-in-class drugs for the treatment of severe inflammatory diseases, autoimmune disorders and cancer. The therapeuti...