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Lipoxen PLC (XEN)

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Friday 29 May, 2009

Lipoxen PLC

Director Dealings

RNS Number : 9724S
Lipoxen PLC
29 May 2009
 



For immediate release 

29 May 2009



Lipoxen plc

('Lipoxen' or 'the Company')


DIRECTOR DEALINGS


Lipoxen plc (AIM: LPX), a bio-pharmaceutical company specialising in the development of high-value differentiated biologicals, vaccines and siRNA delivery, is pleased to announce that further to the announcement released today, that the Company has raised £2.9 million through a non pre-emptive issue of shares (the 'Fundraising'), certain directors have acquired ordinary shares of 0.5 pence each (the 'New Ordinary Shares') as part of the Fundraising. Details of the director dealings are set out in the table below:


Name

Date 

Shares acquired

Total interest

% of total issued share capital

Sir Brian Richards

28 May 2009

941,176

1,191,176

0.77

Scott Maguire

28 May 2009

765,648

765,648

0.50

Colin Hill

28 May 2009

764,706

1,139,706

0.74

Gregory Gregoriadis

28 May 2009

588,234

4,650,207

3.02

Firdaus Dastoor

28 May 2009

750,000

1,925,000

1.25







Mr Scott Maguire and Mr Colin Hill have entered into lock-in agreements restricting the disposal of the New Ordinary Shares acquired subject to the Fundraising for a period of 6 months from the date of admission of the New Ordinary Shares. 


All of the directors above have entered into orderly marketing agreements in respect of all the New Ordinary Shares. The orderly marketing agreements provide that any sale of the New Ordinary Shares must be through Noble & Company for a period of 12 months from the date of admission of the New Ordinary Shares. 


- Ends -

  For further information please contact:


Lipoxen plc

+44 (0)20 7389 5015 

M. Scott Maguire, Chief Executive Officer




Singer Capital Markets (nominated adviser)

+44 (0)20 3205 7500

Jeff Keating / Claes Spång 




Noble & Company

+44 (0) 20 7763 2200 

John Llewellyn-Lloyd / Sam Reynolds  




Buchanan Communications

+44 (0)20 7466 5000

Mary-Jane Elliott, Lisa Baderoon, Rebecca Skye Dietrich, Catherine Breen



Notes for Editors


About Lipoxen

Lipoxen plc is a biopharmaceutical company focused on the development of new and improved biologic drugs and vaccines. Lipoxen has three proprietary patented technology platforms:


1) PolyXen - for extending the efficacy and half life of biologic drugs

2) ImuXen - for creating new vaccines and improving existing vaccines

3) SiRNAblate - for the delivery of siRNA


Lipoxen's technology is designed to improve the efficacy, safety, stability, biological half-life and immunologic characteristics of its products.  


Lipoxen has multiple drug and vaccine programmes in development. Two products are in clinical development, SuliXen, a long acting insulin and ErepoXen, a long-acting erythropoietin (EPO). Lipoxen's preclinical pipeline includes Factor XIII and vaccines against HIV, influenza and malaria.  


The Company has a low-risk business model and out-licenses its proprietary technologies to biopharmaceutical companies that have strong manufacturing and marketing capabilities. Lipoxen currently has commercial agreements with some of the world's leading biotechnology and pharmaceutical companies including Baxter, Schering-Plough, Sanofi-Aventis, the Serum Institute of India Limited, Genentech, Amgen and Genzyme.  


Lipoxen, which was founded in 1997, now trades on the AIM Market of the London Stock Exchange under the ticker symbol LPX. More information can be found at the Company's website: www.lipoxen.com.


This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims', 'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Among the important factors that could cause the Company's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to The Company's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.



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