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DiscovOre Plc - Angelfish Investments ARCADIA Trial Update

·4-min read

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

DiscovOre plc

AQSE: ORE
(“DiscovOre plc” or the “Company”)

DiscovOre plc Investee Update: Angelfish Investments plc, ARCADIA Trial Update

Particulars of the RIS Announcement:

1. Investee: Angelfish Investments plc

2. Investee: Angelfish Investments Update

3. Related Party Disclosure

1. Investee: Angelfish Investments plc (“To be renamed 1graine plc”)

On the 28th of June 2021, all resolutions were passed at a General Meeting convened by Angelfish Investments plc. Following the passing of the resolutions, Angelfish Investments plc raised gross proceeds of, £2,000,500, adopted a new investment strategy and amongst other proposals completed a co-investment rights agreement with Excalibur Healthcare Services. A company founded by globally renowned life sciences & biotech entrepreneur, Sir Professor Christopher Evans OBE whom in conjunction with the transaction, joined the Board of Angelfish Investments plc as Executive Chairman.

DiscovOre plc subscribed for, 21,312,460 shares which on admission represents 24.64% of the issued share capital.

2. Angelfish Investments plc (“to be named 1graine plc”) Update:

Angelfish Investments plc announces, “Excalibur Medicines reports completion of the Arcadia Trial & starts to progress commercial plans”

as released by, Angelfish Investments plc - https://www.investegate.co.uk/angelfish-inv.-plc--angp-/rns/arcadia-trial-update/202107091030017576E/

Particulars of the RIS:

1. Background: Excalibur Medicines Ltd (“EML”)

2. EML: Corporate Update

3. Directors Statement

1. Background: EML Investee

Following the General Meeting held on the 28th June 2021, Angelfish Investments plc proceeded to secure a 2% Equity Interest in, Excalibur Medicines Ltd (“EML”), consistent with the terms of the co-investment agreement entered with Excalibur Healthcare Services, a company founded by renowned biotech entrepreneur and the company’s newly appointed Executive Chairman, Sir Professor Christopher Evans.

Excalibur Medicines Ltd (“EML”) has secured exclusive rights to and owns the patents on a drug, AZD1656, which is being developed as a potential therapeutic for people with diabetes suffering from COVID-19. As there are very few new therapeutics in development for COVID-19 and associated virally transmitted diseases (most research is in combining existing treatments) this has the potential to be highly attractive to big pharma and biotech buyers.

Angelfish Investments plc notes the announcement on July 8, 2021 by EML giving an update on the advanced clinical trial of AZD1656. www.excaliburhealth.co.uk/news

2. EML: Corporate Update

The Company is delighted to announce that the ARCADIA trial has now completed several major milestones. It completed all patient enrolment and dosing in April, has successfully completed the process of data collection and collation from the 31 sites involved in the trial and as of 2nd July has locked the database for full analysis. The formal report with the results of the trial is expected in late August.

The research project was arranged and structured by Professor Sir Chris Evans, Chairman and CEO of Excalibur Healthcare Services, through its subsidiary, Excalibur Medicines Ltd. Sir Chris worked closely with Professor John Martin and his team at St George Street, a UK-based biomedical research charity, which secured the initial project and permission to run the trial from AstraZeneca.

At this time, St George Street (“SGS”) and EML have begun the process of progressing commercialisation plans, subject to the trial data being successful. Analysis is based broadly on a combination of the anticipated mechanism of the drug and the relevant data from the trial endpoints – reduction in mortality, slowing in disease progression, glycaemic and inflammatory reduction.

Another area investigated during the trial which could be attractive if the data proves compelling is the possible up-regulation of T-reg cell activity which it is thought would promote long term immunity, beyond the normal life of a vaccine.

Director Statement

Martin Walton, Executive Director of Angelfish, said: “It is with great pleasure that following the company’s investment only last week we are providing a corporate update confirming the completion of the ARCADIA trial and outlining the next practical steps involved as we eagerly await the final report on the results of the trial which we expect to receive in August.

The completion of the trial now enables commercial discussions to be progressed in anticipation of the final report, which is a critical focus in realising the potential value of the work to date.

“During the trial, EML investigated the possible up-regulation of T-reg cell activity which subject to the data, is thought to promote long term immunity beyond the normal life of a vaccine which is something of much discussion at present and could itself prove to be valuable.”

3. Related Party Disclosure

Burns Singh Tennent-Bhohi is a Director of Angelfish Investments plc, constituting related party disclosure under rule 4.6 of the AQSE Growth Market Exchange Rulebook

DiscovOre plc,

London, 12th July 2021

The Directors of the Company, who have issued this RIS announcement after due and careful enquiry, accept responsibility for its content.

Enquiries

Company:

Burns Singh Tennent-Bhohi (Director)
Conrad Windham (Director)
info@discovoreplc.com
Direct Office Line: +44 (0) 20 3778 0755

Corporate Adviser:

Peterhouse Capital Limited
Guy Miller & Mark Anwyl
Telephone: +44 (0) 20 7220 9796

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