Hemogenyx Pleased With Progress And Recruitment Ahead Of AGM

LONDON (Alliance News) - Ahead of its annual general meeting Thursday, biotech firm Hemogenyx ...

Alliance News 7 December, 2017 | 11:45AM
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LONDON (Alliance News) - Ahead of its annual general meeting Thursday, biotech firm Hemogenyx Pharmaceuticals PLC said laboratory activities are "progressing well", with its scientific recruitment programme "almost complete".

The company listed on the London Main Market in early October after the former Silver Falcon PLC acquired Hemogenyx Pharmaceuticals Ltd for GBP8.0 million in an all-share deal. Having listed with a market capitalisation of GBP12.5 million on admission, Hemogenyx's valuation has dropped to about GBP8.7 million on Thursday.

Hemogenyx said current activities are focused on working with LakePharma Inc and Oxford University to help progress two distinct but complementary novel proprietary therapies.

Those therapies are CDX, a novel bispecific antibody, and HuPHEC, a novel cell therapy, which aim to change the way in which bone marrow/hematopoietic stem cell transplants are performed and improve their efficacy.

LakePharma, the largest US-based biologics contract research organisation according to Hemogenyx, brings integrated antibody engineering and bioproduction expertise to allow the London-listed firm to advance its CDX product through the necessary preclinical stages to "potentially be ready to enter the clinic within 16 months".

To date, work is progressing successfully toward the company's immediate goal of submitting an indicative new drug application to the US Food & Drug Administration.

Meanwhile, the partnership with Oxford University involves work that could lead to additional uses of the company's HuPHEC product. HuPHECs, or Human Post-natal Hemogenic Endothelial Cells, are Hemogenyx's proprietary source of blood stem cells that are able to generate cancer-free, patient-matched blood stem cells and represent the basis for the company's novel cell therapy.

"A successful outcome of the work with Oxford University has the potential to significantly improve the efficiency and safety of future bone marrow transplants," said the company.

"In summary, the directors believe that the company is well-advanced on the planned development steps that were announced on its admission and are looking forward to the next 12 months with great confidence and high expectations," Hemogenyx said.

Shares were up 2.3% on Thursday at 2.43 pence.

By Joshua Warner; joshuawarner@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Hemogenyx Pharmaceuticals PLC 2.75 GBX 0.00 -
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