TIDMOKYO
RNS Number : 8948K
OKYO Pharma Limited
07 January 2021
DIRECTORATE CHANGES AND PDMR DEALING
7 January 2021
OKYO Pharma Limited ("OKYO" or the "Company") today announces
that Gabriele Cerrone has been appointed as a non-executive
chairman of the company and Dr Gary S. Jacob has been appointed as
Chief Executive Officer and director of the company, both with
immediate effect.
Gabriele Cerrone (age: 48)
Mr Cerrone has a successful track record and extensive
experience in the financing and restructuring of micro-cap
biotechnology companies. He has founded ten biotechnology companies
in oncology, infectious diseases and molecular diagnostics, and has
taken seven of these companies to the NASDAQ Market and two to the
Main Market and AIM Market in London. Mr Cerrone is Executive
Chairman of dual listed Tiziana Life Sciences plc. Mr Cerrone
co-founded Cardiff Oncology, Inc. (NASDAQ: CRDF), an oncology
company and served as its Co-Chairman; he was a co-founder and
served as Chairman of both Synergy Pharmaceuticals, Inc. (NASDAQ:
SGYP) and Callisto Pharmaceuticals, Inc. (OTCMKTS: CLSP), and was a
Director of and led the restructuring of Siga Technologies, Inc.
(NASDAQ: SIGA). Mr Cerrone also co-founded FermaVir
Pharmaceuticals, Inc. and served as Chairman of the Board until its
merger in September 2007 with Inhibitex, Inc. Mr Cerrone served as
a director of Inhibitex, Inc. until its US$2.5bn sale to Bristol
Myers Squibb Co in 2012.
Mr Cerrone is the Chairman and Founder of Tiziana Life Sciences
plc (NASDAQ:TLSA, AIM: TILS) an oncology focused therapeutics
company; Chairman and Co-Founder of Rasna Therapeutics Limited
(OTCMKTS: RASP), a company focused on the development of
therapeutics for leukaemias; Co-Founder of Hepion Pharmaceuticals ,
Inc. (Nasdaq: HEPA); Executive Chairman and Co-Founder of Gensignia
Life Sciences, Inc., a molecular diagnostics company focused on
oncology using microRNA technology; and Executive Chairman and
founder of Accustem Sciences plc; and founder of BioVitas Capital
Ltd.
Mr Cerrone will also chair the Nomination Committee of the
Board.
With immediate effect Willy Simon will assume the role of senior
non-executive and will continue to chair the Remuneration Committee
of the Board.
Dr Gary S. Jacob, Ph.D. (age: 73)
Dr. Jacob has over 35 years of extensive experience in the
pharmaceutical and biotechnology industries across multiple
disciplines, including research and development, operations,
business development, capital financing activities and senior
management expertise. He has developed broad and influential
contacts throughout the biopharmaceutical, financial, banking and
investor communities. Dr. Jacob is the Co-Founder and former CEO
and Chairman of Synergy Pharmaceuticals. During his time at
Synergy, he served as Chairman, Chief Executive Officer and
Executive Chairman, and is the co-inventor of Synergy's
FDA-approved drug Trulance(R) which is currently marketed in the
U.S. by Bausch Health, Inc. to treat functional GI disorders. Dr.
Jacob is also the former CEO and Managing Director of Immuron Inc.,
an Australian biotechnology company dual-listed on the Australian
ASX exchange and on NASDAQ. Dr. Jacob currently is Chairman of the
Board of Hepion Pharmaceuticals, Inc., a public NASDAQ listed
company with a drug in clinical development to treat nonalcoholic
steatohepatitis (NASH), and is also on the Board of Directors of
Cardiff Oncology, Inc., a NASDAQ listed public oncology company. He
served as Chief Executive Officer and Director of Callisto
Pharmaceuticals, Inc. from May 2003 until January 2013.
Prior to his involvement with Callisto and Synergy, Dr. Jacob
was at Monsanto/G.D. Searle, where he was Director of Glycobiology
and a Monsanto Science Fellow, specializing in the field of
Glycobiology and drug discovery. Dr. Jacob holds over 30 patents
and is the co-inventor of two pharmaceutical drugs which are FDA
approved. Dr. Jacob earned a B.S. cum laude in Chemistry from the
University of Missouri - St. Louis and holds a Ph.D. in
Biochemistry from the University of Wisconsin-Madison.
The Remuneration Committee have agreed to grant Dr Jacob
40,000,000 options under the Company's share option plan. The
options vest over a 4 year period in equal tranches and have an
exercise price of 5p per share.
This information set out below is provided in accordance with
Article 19(3) of EU Regulation 596/2014.
1. Details of PDMR / person closely associated
a) Name Dr Gary S. Jacob
2. Reason for the notification
a) Position Chief Executive Officer
/ status
b) Initial notification Initial notification
/amendment
3. Details of the issuer
a) Name OKYO Pharma Limited
b) LEI 213800VVN5CB56Y15A05
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 Ordinary Shares of no par value
of the financial
instrument
b) Identification ISIN for OKYO Pharma Limited: GG00BD3FV870
code of the
Financial
Instrument
c) Nature of Grant of options
the transaction
d) Price(s) Price Volume
and volume(s) 5p 40,000,000
f) Date of the 7 January 2021
transaction
g) Place of XLON
the transaction
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Willy Simon, Chairman of OKYO, said "We are delighted that
Gabriele and Gary have joined the Board of OKYO. Their expertise
will be of great value to us at a very important time for the
group."
Pursuant to Listing Rule 9.6.13, in connection with Dr Jacob's
appointment, Dr Jacob was Executive Chairman of Synergy
Pharmaceuticals Inc. until October 2018. In December 2018 Synergy
Pharmaceuticals Inc. (then listed on NASDAQ), filed for Chapter 11
bankruptcy in the USA. The company currently remains in the
administration process. There are no other disclosures to make
pursuant to Listing Rule 9.6.13, in respect of Dr Jacob's
appointment.
There are no other disclosures to make pursuant to Listing Rule
9.6.13 in respect of the appointment of Mr Cerrone.
About OKYO
OKYO Pharma Limited (LSE: OKYO) is a life sciences and
biotechnology company admitted to listing on the standard segment
of the Official List of the UK Financial Conduct Authority and to
trading on the Main Market for listed securities of the London
Stock Exchange plc. OKYO is focusing on the discovery and
development of novel molecules to treat inflammatory dry eye
diseases and chronic pain.
Enquiries:
OKYO Pharma Limited Willy Simon +44 (0)20 7495 2379
Optiva Securities Limited Robert Emmet +44 (0)20 3981 4173
For further information, please visit the Company's website at
www.okyopharma.com.
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END
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