SHORTWAVE LIFE SCIENCES
PLC
("Shortwave" or "the Company")
(Formerly "Psych Capital
Plc")
Change of Name to reflect
Company Focus on Meeting Growing Global Mental Health Care
Challenges
Company Renaming and Rebranding as
Shortwave Life Sciences Plc, Committed to Breakthrough Drug
Development for Mental Health Care
Share Option Grant
Update
London, 6 June 2024 - The Company, a global
investment firm dedicated to advancing pioneering therapies in
mental health care, announces its change of name to reflect its
transformation into a developer of breakthrough
therapies addressing unmet medical needs in mental health. The
Company has been renamed "Shortwave Life Sciences Plc". This
strategic rebranding reflects the Company's reaffirmed commitment
to the advancement of innovative solutions through drug development
for mental health care, including via psychedelics-based therapies,
with a focus on eating disorders.
The decision to rebrand as "Shortwave Life
Sciences Plc" comes following the successful acquisition of
Shortwave Pharma Inc. last year, solidifying the Company's position
as a leader in the development of transformative therapies. Relying
on its combined finance and pharma expertise, the Company will aim
to further identify and grow early stage, best-in class candidates
for innovative treatments delivering impactful solutions in mental
health care.
Change of name
The Company's change of name to
"Shortwave Life Sciences
Plc" has become effective and the new certificate of
incorporation reflecting the name change has been filed at
Companies House.
Website
As part of the rebranding, the
Company's website will be changed to shortwavelifesciences.com and
the website is expected to be live in the coming days. In the
meantime the Company's current website will remain in
place.
Rivki Stern
Youdkevich, CEO of Shortwave Pharma Inc.
acquired by the Company, and now CEO of Shortwave Life Sciences
Plc, expressed her excitement about the rebrand, stating that: "The
transition to Shortwave Life Sciences signifies a new chapter in
our journey and recharges our commitment to innovative drug
development - which we believe is the only way of finding effective
treatments for the world's growing mental health care problems. By
focusing on psychedelics-based therapies, we are poised to make
significant strides in addressing critical unmet needs, starting
with eating disorders."
Eating disorders, including anorexia nervosa,
bulimia nervosa, and binge-eating disorder, represent a significant
global health challenge, affecting millions of individuals
worldwide and growing at an alarming rate. Shortwave Life Sciences
is committed to leveraging cutting-edge drug design, novel delivery
methods, and decades of drug development expertise to develop and
support transformative therapies for these debilitating
conditions.
Shortwave Life Sciences' proprietary drug
development platform has already achieved significant milestones,
including demonstrating chemistry, manufacturing, and controls
(CMC), and preclinical capabilities. With studies underway to
further profile the drug, the Company is on track to meet
regulatory requirements for its phase 1 clinical
studies.
As Shortwave Life Sciences embarks on this new
chapter, it remains dedicated to its mission of pioneering
breakthrough therapies that transform the landscape of mental
health care. With a team of dedicated experts and a commitment to
innovation, Shortwave Life Sciences is uniquely positioned to
introduce and develop solutions for the complex challenges of
mental health disorders worldwide.
Option Share
Grant Correction
In correction to the information announced on
April 5, 2024, with regards to issuance of share options to Joseph
Colliver, a further 1,694,915 share options will be granted to
Joseph under the existing share option scheme with effect from 4
April 2024 and will be capable of being exercised for a period of 2
years. The exercise price is 2.95 pence per share, the mid-market
share price on April 4th, 2024.
The Directors of the Company accept
responsibility for the contents of this announcement.
For media inquiries, please contact:
Enquiries:
Company:
Rivki
Stern: +972 547621621
Peterhouse
Capital Limited:
Corporate
Adviser:
+ 44 (0) 20 7469 0930
Corporate
Broker:
+44 (0) 20 7220 9797
About Shortwave Life Sciences: Shortwave Life
Sciences is a pioneering mental health care company dedicated to
advancing innovative solutions in drug development. With a focus on
psychedelics-based therapies, Shortwave Life Sciences leverages a
unique blend of pharmaceutical and financial expertise to address
critical unmet needs in mental health.