Business
Interim Results to 30 June 2025
Roquefort Therapeutics announced its interim results for the six months ended June 30, 2025, reporting a net loss of £467,167 and cash at period end of £182,923. The company signed a binding share purchase agreement for the sale of Lyramid Pty Ltd for $10.8 million and a term sheet for the sale of Oncogeni Ltd for up to $12 million. Roquefort raised £236,000 through a private placement for working capital. Post period, the company announced a proposed acquisition of Coiled Therapeutics, Inc. for an upfront consideration of £30 million payable in shares, and terminated discussions regarding the sale of Oncogeni. The company intends to transfer ownership of Lyramid to its shareholders. Disclaimer*
About this update from Coiled Therapeutics Plc
[{"type":"text","content":"\n\n30 September 2025\nRoquefort Therapeutics plc\n(\"Roquefort Therapeutics\" or the \"Company\")\n \nInterim Results to 30 June 2025\n \nRoquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company announces its interim results for the six-month period ended 30 June 2025 (the \"period\" or \"H1\").\n \nHighlights\n· The Company announced its intention to pivot away from its existing focus on pre-clinical assets to more mature clinical stage assets\n· Signed binding share purchase agreement with Pleiades Pharma Limited (\"Pleiades Pharma\") for the proposed sale of Lyramid Pty Ltd (\"Lyramid\") for a consideration of $10.8 million\no Long stop date of the transaction to complete is 31 October 2025\n· Signed term sheet with The Nation Trust Holding LLC (\"Nation Trust\") for the sale of Oncogeni Ltd (\"Oncogeni\") for a consideration cash amount of up to US$12 million consisting of upfront and milestone payments\n· Raised £236,000 by way of a private placement with the proceeds being for general working capital purposes as the Company continued to work towards completion of the Lyramid and Oncogeni transactions\n· Ajan Reginald resigned as CEO, Prof. Sir Martin Evans resigned as Non-Executive Director and Dr Darrin M Disley OBE, a Non-Executive Director, was appointed Interim Managing Director in March 2025\n· Cash at period end of £182,923 and a net loss of £467,167 for the 6 months to 30 June 2025\n \nPost Period End Highlights\n· In line with the Company's new strategy of focusing on more mature clinical stage assets, the Company announced the proposed acquisition (the \"Transaction\") of Coiled Therapeutics, Inc. (\"Coiled USA\"), a clinical stage oncology company, currently in a Phase I trial for its AO-252 therapy in the USA (trials ID: NCT06136884) in advanced solid tumours and is showing encouraging efficacy, responses, and clinical benefit with a benign safety profile\no Term sheet is binding with exclusivity until 31 January 2026 and may only be cancelled early upon payment of a termination fee of US$1 million\no Upon completion of the Transaction it is propo...