18 November 2022

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. 

N4 Pharma plc

("N4 Pharma" or the "Company")

Placing to raise £1million

Broker Offer

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 £1 million (before expenses) through a placing of 50,000,000 new ordinary shares of 0.4p each in the Company (the "Placing Shares") at an issue price of 2p ("Issue Price") per Placing Share (the "Placing").  The Placing was undertaken by Turner Pope Investments (TPI) Limited ("TPI").

The net proceeds of the Placing will be used to progress the Company's development work relating to the loading of SiRNA onto Nuvec®, including to commit to doing in-vivo studies and also to explore acquisition opportunities.

Nigel Theobald, Chief Executive of N4 Pharma, commented: "The additional funding raised provides sufficient working capital for our Nuvec® program into 2024 and will enable us to do more in vivo development work on double loaded SiRNA on Nuvec® and begin business development on this opportunity.  Alongside this, we will undertake further research to support our patent application on the use of Nuvec® to improve the efficiency of viral vectors and start business development activities in this area.

"This funding will also give us more scope to continue to look for additional asset opportunities alongside Nuvec."

Broker Offer

To provide shareholders and other investors who did not initially participate in the Placing the opportunity to invest in the Company, under the Placing Agreement, TPI will launch a broker offer ("Broker Offer") under which TPI will, as agent for the Company, invite subscriptions for additional new ordinary shares ("Broker Offer Shares") with an initial expected value of £0.25 million at the Issue Price.  The Broker Offer may be extended, with the express agreement of the Company, to £1.0 million in the event the Broker Offer is oversubscribed.  The Broker Offer opens immediately following this announcement and will close at 4.30 p.m. on 21 November 2022.

As far as is practical, participation in the Broker Offer will be prioritised for qualifying shareholders (direct or indirect) on the Company's share register at the close of business on 17 November 2022 ("Existing Shareholders").  If the maximum subscription under the Broker Offer is taken up, it will raise an additional £1 million, before expenses, for the Company.

To subscribe for Broker Offer Shares, Existing Shareholders or other interested parties who wish to register their interest in participating in the Broker Offer should click on the following link : N4 Pharma Broker Offer

A further announcement will be made following the end of the period during which the Broker Offer is open.  If the Broker Offer is not fully subscribed by 4.30 p.m. on 21 November 2022, orders from eligible investors will be satisfied in full, and the balance of the Broker Offer shall lapse.

Broker Warrants

As part of its fee, TPI will be issued with warrants ("Broker Warrants") to subscribe for new ordinary shares exercisable at the Issue Price, such number of warrants that would be equivalent to 6 (six) per cent. of the gross aggregate value of funds raised in the Placing and Broker Offer.  The Broker Warrants have a term of 36 months from the date of admission of the Broker Offer Shares to trading on AIM and are being issued under the Company's existing share authorities.

Application for Admission

The Placing has been conducted utilising the Company's existing share authorities.  Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on or around 24 November 2022.  Once issued, the Placing Shares will rank pari passu with the Company's existing ordinary shares. 

A further announcement will be made regarding the admission to trading of the Broker Offer Shares to be issued pursuant to the Broker Offer which is also being conducted utilising the Company's existing share authorities.

Total Voting Rights

Following Admission of the Placing shares, the enlarged issued share capital of the Company will comprise 231,080,349 ordinary shares of 0.4 pence each.  The Company does not hold any ordinary shares in treasury.  Consequently, 231,080,349 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. A separate notification will be made following closure of the Broker Offer.

Enquiries:

About N4 Pharma

N4 Pharma is a specialist pharmaceutical company developing a novel delivery system for cancer and vaccine treatments using its unique silica nanoparticle delivery system called Nuvec®.

N4 Pharma's business model is to partner with companies developing novel antigens for cancer and vaccine treatments to use Nuvec® as the delivery vehicle to get their antigen into cells to express the protein needed for the required immunity.  As these products progress through preclinical and clinical programs, N4 Pharma will seek to receive upfront payments, milestone payments and ultimately royalty payments once products reach the market.