Acquisition: Roquefort Therapeutics plc
Placing and acquisition of Oncogeni Limited.
Roquefort Therapeutics plc (Roquefort) has successfully completed the acquisition of Oncogeni Limited (Oncogeni) for an aggregate purchase price of £5.5 million, which was satisfied by the issue of shares. Roquefort also undertook a placing, raising gross proceeds of £1.015 million which shall be used to fund ongoing drug development programs and contribute towards the working capital of the enlarged group.
Oncogeni is a UK private biotechnology company founded in 2019, with an experienced leadership team that is developing cell and RNA based cancer medicines which the Board believes is very complementary to Roquefort’s existing pre-clinical drug development business.
Roquefort was established to pursue opportunities in early stage biotechnology businesses and listed on the Standard List of the London Stock Exchange on 22 March 2021. Since its IPO, Roquefort acquired Lyramid Pty Limited on 21 December 2021, thereby becoming a leader in the development of medicines for a promising new therapeutic target, Midkine.
The acquisition of Oncogeni transforms Roquefort into a material oncology focused biotech company with a complementary portfolio of four novel cancer programs. This expanded product portfolio provides greater upside potential and development risk mitigation for Roquefort.
Crowe's role and the team
Crowe acted as reporting accountant on the transaction. Our capital markets team was led by Paul Blythe, supported by Conor Monaghan.
Client quote
"We were keen to collaborate with Crowe again due to their wealth of experience working with companies who are listed on the Main Market. They were a delight to work with again and we were particularly pleased with their ability to assist our growth aspirations, allowing us to implement our plan efficiently."
Stephen West, Executive Chairman, Roquefort Therapeutics plc
