10th February 2025

Cardiogeni PLC

("Cardiogeni" or the "Company")

Signing of Memorandum of Understanding with the UAE Private Office of Sheikh Al Qassimi

Cardiogeni (AQSE: CGNI), a 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 announce the signing of a memorandum of understanding (the "MoU") with the Private Office of Sheikh Al Qassimi for direct investment and the funding of the Company's clinical trials.

The funding will be through the formation of a joint venture ("JV") with a total funding amount of GBP £20 million to complete research, development and clinical trials in the United Arab Emirates ("UAE").

Principal Transaction Terms

The MoU includes the following principal terms:

·   £20m in funding in the period covering 2025 to 2027;

·   £5m coming via an initial investment in H1,2025 with the remainder being supplied to fund the clinical development of Cardiogeni's heart failure medicines through Phase 2b/3 clinical trials;

·   The establishment of a UAE joint venture corporation to complete R&D, specialist manufacturing, Phase 2b/3 clinical trials and the commercialisation of Cardiogeni's heart failure medicines in the Gulf Cooperation Council ("GCC") states including the UAE, Saudi Arabia, Oman and Bahrain;

·   The JV agreement will include the relevant governmental and family offices sponsorship to expedite the development of Cardiogeni's heart failure medicines in the GCC; and

·   The MoU is non-binding, and the Parties will negotiate a legally binding licence agreement in good faith, throughout February 2025 and will aim to sign the binding agreement by March 31st, 2025.

Following formation of the Joint Venture and the completion of the initial investment, the Company intends to disclose details of the clinical development program, forward funding schedule and the anticipated timelines for expedited development.

The Company will provide shareholders with further updates regarding this transaction as appropriate.

Dr Darrin M Disley OBE, Executive Chairman of Cardiogeni commented:

"Following our recent admission to AQSE we are delighted to be able to share news of such a meaningful development for the Company. The receipt of the initial funding will facilitate advancement of our innovative heart failure medicines through the ongoing Randomised Controlled trial (RCT) in Europe and, via the JV to be formed, through pivotal P2b/3 human trials in a region that has both an excellent medical research eco-system and access to a market with a significant unmet need due to a high prevalence of heart failure."

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.

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