Vela Technologies PLC Update re. Economic Interest in AZD1656 (4540Z)
15 Maggio 2023 - 2:23PM
UK Regulatory
TIDMVELA
RNS Number : 4540Z
Vela Technologies PLC
15 May 2023
15 May 2023
Vela Technologies plc
("Vela" or "the Company")
Update on Put Option for potential sale of Economic Interest in
AZD1656
Further to the Company's announcement on 20 April 2023, the
Board of Vela (AIM: VELA), an AIM-quoted investing company focused
on early-stage and pre-IPO disruptive technology investments, notes
the Form S-4 Registration Statement and preliminary proxy statement
filed by Murphy Canyon Acquisition Corp. (NASDAQ: MURF) on 12 May
2023 which is available for viewing on the United States Securities
and Exchange Commission's website.
On 20 April 2023, Vela announced that the Company entered into a
put option agreement to give the Company the right, but not the
obligation ("the Option"), to sell its economic interest in the
commercialisation of the Covid-19 application of AZD1656 for a
total consideration of GBP4.0 million. The Option was granted by
Conduit Pharmaceuticals Limited ("Conduit") and its prospective
parent company, Murphy Canyon Acquisition Corp. ("Murphy"), a
Company listed on NASDAQ.
As previously announced on 20 April 2023, the Board of Vela is
mindful that there can be no guarantee that Vela will be able to
exercise the Option, since exercise is dependent on the successful
completion of the merger between Conduit and Murphy and the
combined entity being listed on the NASDAQ stock exchange.
A copy of the Form S-4 Registration Statement can be found
at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1896212/000149315223016741/forms-4.htm
The Company will release further announcements as and when
appropriate.
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7410 886830
Brent Fitzpatrick, Non-Executive Chairman
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0) 20 3328
5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Broker) Tel: +44 (0) 20 7469
0930
Lucy Williams / Duncan Vasey / Eran Zucker
/ Oryon Lass
Novus Communications (PR and IR Adviser) Tel: +44 (0) 20 7448
9839
Alan Green / Jacqueline Briscoe
About Vela Technologies
Vela Technologies plc (AIM: VELA) is an investing company
focused on early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are developing technology with a view to
disrupting the businesses or sector in which they operate. Vela
Technologies will also invest in already-listed companies where
valuations offer additional opportunities.
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END
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May 15, 2023 08:23 ET (12:23 GMT)
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