Roquefort has released full details of the Lyramid acquisition...

Roquefort has released full details of the Lyramid acquisition process. Link below.

The descriptions of Lyramid history, intended development strategy, and the terms of the acquisition are informative. Worth reading.

Approval by its shareholders will be at an EGM on 13^th December in London
The company name then will be changed to Roquefort Therapeutics
A prospectus for the acquisition will be available soon on the Roquefort website (https://www.roquefortinvest.com/). The list of current shareholders might form interesting reading.

Antibodies inhibit MK activity, mRNA oligomers inhibit MK expression
The drug development process will focus on the mRNA oligomers rather than on the MK-antibodies
Roquefort intends to build a patent portfolio based on drug applications of the oligomers (which as I remember will be added to Cellmid’s ownership)
The company intends to develop the drugs through sub-licensing (so 8% royalties to Cellmid/Anagenics)

The acquisition pricing is complicated, including possible deferred share payments, so it is indefinite exactly what cut Cellmid will receive of the acquisition amount(s), and in what form. The arrangement was for 4% of an approved purchase price. The initial acquisition consideration is £1 million.

https://www.londonstockexchange.com...d-acquisition-of-lyramid-pty-limited/15216497

Cheers