Roquefort Therapeutics (LSE:ROQ) has agreed to acquire an exclusive global licence for AO-252, a clinical-stage, orally delivered small-molecule inhibitor targeting TACC3 that is capable of penetrating the brain, from Coiled Therapeutics Inc. The transaction, valued at £31.875 million and to be satisfied in shares, is expected to reposition the company as a clinical-stage oncology developer. AO-252 is currently undergoing a Phase I clinical trial in the United States for advanced solid tumours and will sit alongside the company’s existing STAT-6 programme, which is being prepared for clinical evaluation.
In connection with the acquisition, Roquefort plans to raise £8.5 million through a conditional placing and subscription priced at 10 pence per share, with participation from senior management. Net proceeds of approximately £7.7 million are intended to fund key clinical development milestones for AO-252 during 2026 and 2027, as well as provide additional working capital. The company also intends to cancel its listing on the Main Market, apply for admission of its enlarged share capital to AIM, and rebrand as Coiled Therapeutics plc. A refreshed board structure is planned as part of the transition, with management aiming to capitalise on growing pharmaceutical industry interest in precision oncology treatments, particularly targeting prostate and ovarian cancers.
The company’s outlook remains constrained by financial fundamentals typical of early-stage biotech businesses, including ongoing losses, cash burn and variability in pre-commercial revenues. Technical indicators suggest a continued downward share price trend, although a relatively low level of debt offers some balance sheet support. Valuation metrics remain limited by a negative price-to-earnings ratio and the absence of dividend income.
More about Roquefort Therapeutics plc
Roquefort Therapeutics plc is an oncology-focused biotechnology company developing precision cancer treatments aimed at novel biological targets such as TACC3 and STAT-6. The business is transitioning toward a clinical-stage development model focused on therapies for solid tumours, including ovarian and prostate cancers, and plans to operate under the new name Coiled Therapeutics plc following its proposed move to AIM.
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