SHORTWAVE LIFE SCIENCES
PLC
("Shortwave" or "the
Company")
International Preliminary Report on
Patentability Acknowledging All of the Company's
Patent Claims
London, 8 July 2024 - The Company, a
developer of breakthrough therapies addressing unmet medical
needs in mental health, is pleased to announce that its
PCT application no. PCT/IL2023/050442 entitled: "A
Mucoadhesive Film Comprising a Pharmaceutically Active Agent And
Uses Thereof" has received a positive report from the
PCT examining authority acknowledging all of its claims as novel,
non-obvious and industrially applicable.
This acknowledgement from the PCT examining
authority signifies a major milestone for the Company, confirming
its mucoadhesive buccal film as a novel and inventive drug delivery
platform for psychedelic-based drugs, free of prior art. With this
IP confirmation, the Company can begin to utilise its buccal film
delivery platform in administering additional drug combinations
including under licensing agreements with future potential
partners.
"This acknowledgement by the PCT committee is
very important for us as we progress in our drug development path
"says Rivki Stern
Youdkevich, CEO of Shortwave Life Sciences. Rivki
Stern further summarised: "The PCT's examining committee's report
acknowledging all our claims as free of prior art confirms our
belief in our patient-focused IP and drug development strategy. As
we move to the national phase, we are reaffirmed in our mission of
pioneering breakthrough therapies that transform the landscape of
mental health care, especially psychedelics
-based".
The Company's Buccal film was designed to
address specific needs of eating disorders and anorexia nervosa
patients. Its mucoadhesive administration enables faster
onset, higher bio-availability and bypassing of liver
and gut degradation, all aimed at tackling the patients'
metabolism-related challenges. It is tailored to further address a
range of psychological and psychosomatic challenges typical to
anorexia patients such as swallowing or injection, and expected to
significantly improve patient receptiveness.
Condition Met
for Allocation of Deferred Shares Consideration
As part of the Share Purchase
Agreement ("SPA") signed between the Company and Shortwave Pharma
Inc. in June 2023, 9,015,100 Deferred Consideration Shares were
subject to, amongst other things, Shortwave Pharma obtaining a
positive examiner opinion including at least one novel and
non-obvious claim in at least one patent application filed under
the Patent Cooperation Treaty (PCT) filings taking priority from
the currently submitted US provisional applications. This
conditionality has been met within the longstop date, and
accordingly, the Deferred Consideration Shares will be issued,
pursuant to the SPA.
The International Preliminary Report
on Patentability received has been accepted by the Company as
evidence of the condition for the Deferred Consideration Shares
allocation having been satisfied.
According to the Agreement, within 5 Business
Days of the date satisfaction of the Deferred Consideration Shares
condition, the Company shall allot and issue the Deferred
Consideration Shares to the sellers of Shortwave Pharma.
It is expected the Deferred Consideration
Shares will be admitted to the Aquis Growth Market on or about 12
July 2024.
Directors'
shareholdings
Following the issue of the Deferred
Consideration Shares the directors shareholding will be:
|
Director
|
Deferred Consideration Shares
|
Ordinary Shares held following the issue of the
Deferred Consideration Shares
|
% Ordinary Shares held of Enlarged Share
Capital
|
|
|
|
|
|
|
Rivki Stern
|
1,404,689
|
10,789,920
|
2.91%
|
|
Roy Kait
|
1,092,866
|
8,401,696
|
2.27%
|
|
Stephen Murphy
|
Nil
|
12,240,000
|
3.38%
|
|
|
|
|
|
|
|
|
|
|
About
Shortwave Life Sciences:
Shortwave Life Sciences is a developer
of breakthrough therapies addressing unmet medical needs in
mental health. The Company is committed to the advancement of
innovative solutions through drug development, with a mission to
pioneer breakthrough therapies that transform the landscape of
mental health care. With a team of dedicated experts and a
commitment to innovation, Shortwave Life Sciences is uniquely
positioned to introduce and develop solutions for the complex
challenges of mental health disorders worldwide.
The Directors of the Company accept
responsibility for the contents of this announcement.
For media inquiries, please contact:
Enquiries:
Company:
Rivki
Stern: +972 547621621
Peterhouse
Capital Limited:
Corporate
Adviser:
+ 44 (0) 20 7469 0930
Corporate
Broker:
+44 (0) 20 7220 9797
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Roy Kait
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Non-Executive Director
|
|
b)
|
Initial notification /Amendment
|
Initial notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Shortwave Life Sciences Plc
|
|
b)
|
LEI
|
213800WXCQ1C6GPLHH68
|
|
4
|
Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial instrument, type of
instrument
Identification code
|
Ordinary shares of £0.001 value each
in Shortwave Life Sciences Plc
Identification code (ISIN) for Shortwave Life
Sciences plc ordinary shares: GB00BL6CJQ54
|
|
b)
|
Nature of the transaction
|
Purchase of Ordinary Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Grant of deferred ordinary shares
|
1,092,866
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
8 July 2024
|
|
f)
|
Place of the transaction
|
Aquis Growth Market
|
|
1
|
Details of the
person discharging managerial responsibilities / person closely
associated
|
|
a)
|
Name
|
Rivki Stern
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification /Amendment
|
Initial notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Shortwave Life Sciences
|
|
b)
|
LEI
|
213800WXCQ1C6GPLHH68
|
|
4
|
Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial instrument, type of
instrument
Identification code
|
Ordinary shares of £0.001 value each
in Shortwave Life Sciences Plc
Identification code (ISIN) for Shortwave Life
Sciences plc ordinary shares: GB00BL6CJQ54
|
|
b)
|
Nature of the transaction
|
Purchase of Ordinary Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Grant of deferred ordinary shares
|
1,404,689
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
8 July 2024
|
|
f)
|
Place of the transaction
|
Aquis Growth Market
|