Update on JV including £20m Funding

Cardiogeni PLC

01 April 2025

 

April 1st 2025

Cardiogeni PLC

("Cardiogeni" or the "Company")

Update On The Joint Venture Including £20M Funding For The Clinical Development Of Cardiogeni's Portfolio Of Novel Heart Failure Medicines In The United Arab Emirates

Cardiogeni (AQSE: CGNI), the UK clinical stage biotechnology company founded by 2007 Nobel Laureate Sir Martin Evans to advance novel heart failure medicines through human trials, is pleased to provide a progress update on the United Arab Emirates ("UAE") joint venture (JV) which includes £20M funding announced on February 10th, 2025.

The JV negotiation is progressing, with the principal terms described below, being enshrined in a legally binding agreement which is expected to be signed and announced over the coming weeks.  

Principal Transaction Terms

·    £20m in non-dilutive license funding;

·    £5m of this non-dilutive license funding provided in 2025;

·    formation of a JV corporation to complete development and the commercialisation of Cardiogeni' s medicines in the Gulf Cooperation Council (GCC) states including the UAE, Saudi Arabia, Oman and Bahrain;

·    The JV includes the relevant governmental and family offices sponsorship to expedite the development of Cardiogeni's medicine in the GCC

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 of Admission.

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	Via First Sentinel
First Sentinel Corporate Finance Limited Corporate Adviser
Brian Stockbridge Gabrielle Cordeiro	[phone]

 

 

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