Climate Change Data

Environmental Metrics

Social Achievements

• Appointed Ms Jean Duvall to the Board, improving gender diversity.

Governance Achievements

• Established an Audit Committee, a Remuneration Committee, and a Nomination Committee post-acquisition of Lyramid.

Climate Goals & Targets

Environmental Challenges

• Difficulties in predicting revenue generation for a pre-revenue business.
• Risks associated with the novel Midkine drug target, including potential for insufficient therapeutic outcomes or unpredictable off-target effects.
• Technical risks in drug development, including delays, supplier failures, and unpredictable biological processes.
• Stringent regulatory oversight in the biotechnology sector, with potential for trial suspension or abandonment.
• Uncertainty in securing commercialization partnerships or alternative means of commercializing a successful drug.
• Competition in the biotechnology sector and the potential for superior alternative technologies.
• Dependence on the experience and talent of management and advisors.
• Uncertainty related to the COVID-19 pandemic's impact on global markets and business operations.

Mitigation Strategies

• Seeking appointment of a CEO to manage commercial activities.
• Continuous dialogue with the Chief Scientific Officer and a Strategic and Scientific Advisor to review technical risks.
• Monitoring progress at each development stage and critically evaluating the chance of success.
• Securing funding to support trials and further development.
• Engaging in continuous dialogue with the Chief Scientific Officer to critically review the technical risks.
• Appointing a Strategic and Scientific Advisor to support the Board in this review process.
• Filing patent applications and implementing robust confidentiality obligations to protect intellectual property.
• Vigorously defending intellectual property through litigation if necessary.
• Monitoring the speed and output of the program and challenging where improvements are possible.
• Utilizing the listed company status to raise additional funds if required.
• Offering incentives to Directors through share warrants to align their interests with long-term success.
• Taking necessary measures to ensure operational continuity despite COVID-19 disruptions.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance

Social Achievements

• Strengthened Board and senior management team through appointments

Governance Achievements

• Established anti-corruption and anti-bribery policy

Climate Goals & Targets

Environmental Challenges

• Pre-revenue business with no guarantee of future revenue
• Technical and regulatory hurdles in drug development
• Competition in the biotechnology sector
• Risk of intellectual property infringement
• Dependence on key personnel

Mitigation Strategies

• Appointed CEO to manage commercial activities
• Established Scientific Advisory Board to review technical risks
• Monitoring the speed and output of programs
• Securing funding through licensing deals and equity placements
• Offering incentives to Directors and employees through share warrants

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Considering potential suppliers based on suitability and compliance with company policies

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

Third-party Assurance: Not disclosed

Environmental Metrics

Social Achievements

• Continued pre-clinical development with encouraging positive results for all five novel patent-protected pre-clinical anti-cancer medicines.

Governance Achievements

• Formed a Scientific Advisory Board to help drive drug development programs forward.

Climate Goals & Targets

Environmental Challenges

• The Group is not breakeven and there is no guarantee that it will generate significant profits in the near future.
• Research and development risks carry technical risks, including the programs undertaken by the Group and there is no guarantee that these technical risks can be effectively overcome, and a successful, approved product can be developed
• Biotechnology programs are subject to the most stringent regulatory oversight by various government agencies and ethics committees and there is no guarantee that the proposed development work will result in an efficacious treatment, or even if it does, that the drug will be approved by regulatory authorities
• Even where the Group is successful in terms of technical and regulatory approvals, there is no guarantee it will be successful in securing an appropriate licensing deal or in achieving alternative means of commercialising its drugs
• The successful operation of the Group will depend partly upon the performance and expertise of its current and future management and employees
• The further operations of the Group will depend on its ability to raise further funds through either equity markets or licence revenue deals

Mitigation Strategies

• The CEO actively manages the commercial activities of the Group as it develops.
• The CEO and the Directors oversee the progress of the development of the Group's research programs and associated technologies and ensure funding is in place to support the necessary trials and further development steps as these come on stream.
• The Directors engage in continuous dialogue with the CEO and senior scientific staff to critically review the technical risks.
• The Board has established a Scientific Advisory Board to support them in this review process.
• The CEO and certain Board members have extensive experience in developing products to pre-IND and completing licensing deals.
• The Board is in continuous dialogue with the CEO regarding ongoing licensing discussions.
• The CEO and Chairman have extensive experience in both the capital markets and Bio-technology sector and are confident in their abilities to raise additional fundings or revenue.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD