Roquefort Therapeutics (LSE:ROQ) has announced a revised timeline for the divestment of its subsidiary, Lyramid Pty Ltd, extending the completion deadline from June 30 to August 31, 2025. The delay follows slower-than-anticipated fundraising progress by the buyer, Pleiades Pharma Limited, which has been impacted by geopolitical uncertainties in the UAE.
Once finalized, the transaction will see Roquefort receive equity in Pleiades along with a potential cash payment of up to $2 million. To enable shareholders to directly benefit from the deal, Roquefort plans to set up a new equity holding company through which Pleiades shares will be distributed. Meanwhile, the company continues to seek acquisition opportunities focused on clinical-stage assets or revenue-generating businesses within the life sciences sector.
About Roquefort Therapeutics PLC
Roquefort Therapeutics is a UK-listed biotechnology firm developing next-generation therapies targeting cancer and immune-related diseases. Its pipeline includes five pre-clinical, patent-protected assets designed to address high-value markets in oncology and immunology.
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