REG - Theracryf PLC - Non-Binding Proposal to Acquire TheraCryf’s Assets

TheracryfAnnouncement

14/04/2026 07:02

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RNS Number : 2760A  Theracryf PLC  14 April 2026

 

14 April 2026

TheraCryf plc

("TheraCryf", the "Company" or the "Group")

 

Non-Binding Indicative Proposal to Acquire TheraCryf's Lead Neuropsychiatry
Assets Received

 

The Board has rejected the proposal on the basis that it does not reflect the
value or future commercial potential of the assets, and is not in the best
interests of shareholders

 

TheraCryf plc (AIM: TCF), the biotech company developing new medicines for
addiction and other neuropsychiatric disorders, announces that it received a
conditional, non-binding, indicative proposal regarding the potential
acquisition of TheraCryf's lead neuropsychiatry assets, namely the Orexin-1
("Ox-1") and dopamine transporter ("DAT") programmes (the "Indicative
Proposal").

 

Following careful consideration, the Board unanimously concluded that the
Indicative Proposal did not reflect the current or future value of the assets
and was therefore not considered to be in the best interests of the Company
and its shareholders. Accordingly, the Board rejected the Indicative Proposal
and has terminated these recent discussions.

 

The Board is confident in the value and strategic importance of its
neuropsychiatry programmes, the most advanced of which is an Ox-1 receptor
blocker being developed for addiction, a growing market worth US$42
billion(¹). The Ox-1 programme, which is fully funded to generate all data
required to support an application to conduct a Phase 1 clinical study by Q4
2026, represents a significant commercial opportunity to deliver long-term
value for shareholders.

 

Dr Huw Jones, Chief Executive Officer of TheraCryf, commented:

 

"After detailed consideration by our Board, we have concluded that the
Indicative Proposal did not reflect the value of our assets nor their
significant future commercial potential.

 

Given the excellent progress towards the clinic of the Orexin-1 programme,
which represents a major value inflection point for the Company, the Board is
confident that the best route to delivering significant shareholder value is
to continue to develop our lead assets and we therefore rejected the proposal.

 

It is encouraging to note that our assets are receiving commercial attention,
in line with other modulators of the orexin system, such as the transaction
recently announced to acquire a clinical-stage orexin company in a different
disease area for up to US$7.8 billion(2). We fully expect that our own asset
value will be further enhanced by phase 1 clinical data in due course."

 

1.
https://www.futuremarketinsights.com/reports/substance-use-disorder-treatment-market
(https://www.futuremarketinsights.com/reports/substance-use-disorder-treatment-market)

2.
https://investors.centessa.com/news-releases/news-release-details/lilly-acquire-centessa-pharmaceuticals-advance-treatments-sleep
(https://investors.centessa.com/news-releases/news-release-details/lilly-acquire-centessa-pharmaceuticals-advance-treatments-sleep)

 

 

-Ends-

 

Enquiries

 

 TheraCryf plc                                       +44 (0)1625 315 090

 Dr Huw Jones, CEO                                   enquiries@theracryf.com (mailto:enquiries@theracryf.com)

 Toni Hänninen, CFO

 Dr Helen Kuhlman, COO

 Singer Capital Markets (NOMAD & Joint Broker)       +44 (0)20 7496 3000
 Phil Davies / Patrick Weaver

 Turner Pope Investments (Joint Broker)              +44 (0)20 3657 0050

 Guy McDougall / Andy Thacker

 Northstar Communications (Investor Relations)       +44 (0)113 730 3896

 Sarah Hollins                                       sarah@northstarcommunications.co.uk
                           (mailto:sarah@northstarcommunications.co.uk)

 

About TheraCryf

 

TheraCryf plc is a biotechnology company developing new medicines for
addiction and other neuropsychiatric disorders, areas of significant unmet
medical need within central nervous system (CNS) disorders.

 

The Group's lead programme is a novel, best-in-class Orexin-1 receptor
antagonist being developed as a potential treatment for addiction, including
binge eating, alcohol and other substance use disorders.

The programme has already been heavily de-risked for both safety/tolerability
and efficacy in previous testing and is fully funded through final
pre-clinical trials to clinical readiness, with regulatory submissions for
first in man studies targeted for 2026.

 

TheraCryf also has a dopamine transporter (DAT) modulator programme addressing
fatigue of brain origin, including fatigue associated with multiple sclerosis,
chemotherapy and narcolepsy. The Group also has a legacy, grant-funded,
oncology programme in glioblastoma with SFX-01.

 

The Group operates a capital-light, virtual development model advancing
programmes to early clinical or proof-of-concept stage before partnering with
larger pharmaceutical or biotechnology companies.

TheraCryf's headquarters and registered office are at Alderley Park, Cheshire.

 

For further information, visit: https://theracryf.com (https://theracryf.com)

 

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