("Synairgen" or the "Company")
Issue of Equity
Southampton, UK - 15 March 2018: Synairgen (LSE: SNG), the respiratory drug discovery and development company, following the exercise of options by a former employee, has issued and allotted 70,205 new ordinary shares of 1 pence each in the Company ("Ordinary Shares"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 29 March 2018.
The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following the exercise of options, the Company's issued share capital consists of 91,432,817 Ordinary Shares. Accordingly, the figure of 91,432,817 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 FCA's Disclosure Guidance and Transparency Rules.
For further information please contact:
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
Tel: + 44 (0) 23 8051 2800
Geoff Nash, James Thompson (Corporate Finance)
Stephen Norcross, Simon Johnson (Corporate Broking)
Tel: + 44 (0) 20 7220 0500
Consilium Strategic Communications (Financial Media and Investor
Mary-Jane Elliott / Sukaina Virji / Laura Thornton
Tel: +44 (0) 20 3709 5701
Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development. Core to Synairgen's business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). In December 2017 the collaboration agreement was amended as Pharmaxis took on full responsibility for the programme, with Synairgen receiving a £5 million upfront payment and circa 17% of any future partnering proceeds from all fibrotic indications. Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com