7 June 2024

N4 Pharma plc

 ("N4 Pharma" or the "Company")

Placing and Subscription to raise £630,000

N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company developing Nuvec®, a novel delivery system for cancer treatments and vaccines, is pleased to announce that it has raised a total of £630,000 (before expenses) through a placing of 118,000,000 new ordinary shares of 0.4pence each in the Company (the "Placing Shares"), and a subscription of 8,000,000 new ordinary shares of 0.4pence each (the "Subscription Shares"), at an issue price of 0.5p (the "Issue Price") per Placing Share and Subscription Share (together, the "Fundraise").

The net proceeds of the Fundraise will be used to advance its three primary work streams whilst also providing working capital into 2025. Specifically:

●    Based on the encouraging data obtained on the use of Nuvec® for multiple delivery of siRNA and its oral work, the Company will commence work with the University of Queensland for the proof of concept for a product to treat irritable bowel disease ("IBD"). The program will seek to demonstrate through in vitro and in vivo studies that dual loaded Nuvec® in an oral capsule can reduce inflammation associated with IBD

●    Subject to data from the ongoing work with SRI International Inc ("SRI"), continue to support further development work with SRI's MGS technology whilst supporting the co-marketing of any resulting data to collaborators and commercial partners

●    The increased funds will provide flexibility to further support Nanogenics in obtaining pre-IND Approval for ECP105 whilst in vivo work concludes and it awaits the result of its application for orphan designation status for ECP105 which, if granted, would potentially give seven years exclusivity in the USA on the product post authorisation

●    In addition to the core work streams outlined above, all of which are expected to provide steady newsflow for the rest of the year, work will continue in the background to identify a distribution partner to supply Nuvec® to Adeno-Associated virus ("AAV") vector companies

●    The Board will also look to potentially add additional director(s) with proven track records or contacts in the commercialisation and/or sale of products and IP in the pharmaceutical and biotech space

Nigel Theobald, Chief Executive Officer of the Company, has added an explanatory video to the N4 Pharma investor hub which can be found here: https://investors.n4pharma.com/link/XyMJ5e.

Please submit any questions you may have and the management team will endeavour to respond as soon as possible.

A comment from Nigel Theobald:

"We are pleased to have raised these funds in difficult market conditions for small caps. The money will underpin our work efforts whilst we look to move through key milestones and, we believe, value inflexion points, across our three main work streams during the rest of the year. In doing so, we hope to be able to co-market our combined technologies with SRI, complete a proof of concept for an oral IBD product and achieve orphan designation and pre IND approval for Nanogenics' ECP105. All the while this work will be widening and strengthening our IP position across the Company."

Broker Warrants

As part of its fee, Turner Pope Investments (TPI) Limited, will be issued with warrants ("Broker Warrants") to subscribe for 7,560,000 new ordinary shares exercisable at the Issue Price. The Broker Warrants have a term of 36 months from the date of admission of the Placing Shares and Subscription Shares to trading on AIM and are being issued under the Company's existing share authorities.

Application for Admission

The Fundraise has been conducted utilising the Company's existing share authorities. Application has been made for the Placing Shares and Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on or around 13 June 2024. Once issued, the Placing Shares and Subscription Shares will rank pari passu with the Company's existing ordinary shares. 

Total Voting Rights

Following Admission, the enlarged issued share capital of the Company will comprise 394,780,349 ordinary shares of 0.4 pence each ("Ordinary Shares"). The Company does not hold any Ordinary Shares in treasury. Consequently, 394,780,349 is the figure which may be used by shareholders as the denominator for the calculation 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 and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. 

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About N4 Pharma

N4 Pharma is a specialist pharmaceutical company developing a novel delivery system for oncology, gene therapy and vaccines using its unique silica nanoparticle delivery system called Nuvec®.

N4 Pharma's business model is to partner with companies developing novel antigens in these fields to use Nuvec® as the delivery vehicle for these antigens. As these products progress through pre‐clinical and clinical programs, N4 Pharma will seek to receive upfront payments, milestone payments and ultimately royalty payments once products reach the market.

For further information on the Company visit www.n4pharma.com or sign up at investors.n4pharma.com.