This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
24 July 2025
Cardiogeni PLC
("Cardiogeni" or the "Company")
£150,000 in EIS and advanced subscription agreement funding committed
Cardiogeni (AQSE: CGNI), the UK clinical stage biotechnology company founded by 2007 Nobel Laureate Professor Sir Martin Evans to develop innovative heart failure medicines, is pleased to announce an EIS funding round including advanced subscription agreements of £150,000 (before costs) (the "Advanced Subscription").
The Company was granted EIS (Enterprise Investment Scheme) advanced assurance by HMRC on the 22 January 2025. The Advanced Subscription includes commitments from both new and existing investors and was led by SP Angel Corporate Finance LLP, the Company's Corporate Broker.
The net proceeds of the Advanced Subscription may be used to facilitate a potential listing on the AIM Market of the London Stock Exchange or a similar dual-listing, subject to market conditions during the second half of 2025. The funds will also provide the Company with additional working capital.
This funding is expected to be deployed alongside the £20,000,000 funding envisaged to be provided by the UAE JV, as detailed in the Company's announcements dated 10 February 2025 and 1 April 2025.
Additional information regarding the specific terms of the Advanced Subscription including the issue price, number of ordinary shares that will be issued pursuant to the Advanced Subscription and the Admission of these shares to trading on the AQSE Growth Market will be announced in due course.
ENDS
About Cardiogeni
Founded by Nobel Laureate, Professor Sir Martin Evans, the Cardiogeni Group is developing a new class of life-saving cellular medicines. The Group's platform technology enables the creation of unique (living) cells that are engineered with a specific therapeutic function.
The Group's lead product, CLXR-001, is a patented engineered cellular medicine to treat heart failure patients which is administered during coronary artery bypass grafting surgery. The Group's novel epigenetic cellular reprogramming technology was developed in-house by Professor Sir Martin Evans and the platform along with the pipeline of medicines in development are protected by a portfolio of ~100 international patents and trademarks.
CLXR-001 targets heart failure which will affect 1 in 4 people in their lifetime and is not reversible or curable. CLXR-001 consists of a novel allogeneic (off-the-shelf) cell type, iMP cells, engineered for cardiac regeneration whose mechanism of action is to regenerate damaged heart tissue and restoration of improved heart function improving both the life expectancy and quality of life of patients.
CLXR-001 targets the cardiac market niche of CABG surgery with ~400,000 patients per year in the US alone. The Group's two follow-on products target larger cardiac market segments of stent treatment (over two million patients per year) and myocardial infarction (heart attack, over one million patients per year). Each of the products has the potential to become a first or best-in-class blockbuster ($1B in annual sales) medicine
CLXR-001 has successfully completed an EU Phase II investigator sponsored clinical trial in which patients showed a statistically significant (P<0.05) improvement in all end-point targets including heart function, reduction in heart scarring and an improvement in quality of life.
CLXR-001 has received regulatory approval to begin a randomized controlled trial from the national regulatory authority of a European Union member country and this trial has begun dosing patients with interim data expected to read-out within 18 months.
The Company's admission document is available to view on its website: www.cardiogeni.com
The Directors of Cardiogeni accept responsibility for this announcement.
For further information please contact:
| Cardiogeni PLC |
|
| Darrin Disley, Executive Chairman Ajan Reginald, Executive Officer |
Via First Sentinel |
|
First Sentinel Corporate Finance Limited, Corporate Adviser |
|
| Brian Stockbridge |
+44 (0) 7858 888007 |
|
SP Angel Corporate Finance LLP, Corporate Broker |
|
| David Hignell Vadim Alexandre Devik Mehta |
+44 20 3470 0470 |
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