London Stock Exchange welcomes Hemogenyx Pharmaceuticals Plc to the Main Market
London Stock Exchange today welcomed Hemogenyx Pharmaceuticals Plc (‘Hemogenyx’ or the ‘Company’), the biopharmaceutical company focused on developing new treatments for life threatening blood diseases, to celebrate the listing of the Company's public shares onto the Main Market, under the ticker "HEMO".
HemoGenyx is a preclinical-stage biotechnology company focused on the discovery, development and commercialisation of novel therapies and treatments for blood diseases, like leukemia and lymphoma. The company's leading technologies aim to change the way in which bone marrow/hematopoietic stem cell transplants are performed and to mitigate the dangers and limitations associated with the current standard of care.
Hemogenyx currently have two complementary products under development: a conditioning product (proprietary CDX bi-specific antibodies) that could replace the harmful chemotherapy/irradiation currently used, and a cell therapy product (Hu-PHECs) that generates cancer free, patient matched stem cells for transplantation, reducing the risk of rejection.
Hemogenyx has raised gross proceeds of £2m through a placing with new institutional investors at a placing price of 3.5 pence per Ordinary Share. On Admission, the Company will have a market capitalisation of approximately £12.46m.
The use of proceeds of the Placing combined with the Company's cash resources of approximately £3.1m should be sufficient to complete the IND-enabling preclinical development of the Company's lead product, the CDX bi-specific antibody, and to finance significant preclinical development of certain Hu-PHEC cell therapy product candidates.
Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx, commented:
"The successful Admission to the Main Market will support us through the next growth phase as we work hard to complete the IND application for our lead product, the CDX bi-specify antibody. We believe we have a de-risked, well protected product, and this coupled with an experienced management team and stellar advisory board will help us drive the development of our new treatments forward so we can help address the pressing issue of blood cancers that are currently affecting 1.1 million people in the US alone."
To find out more about Hemogenyx visit: www.hemogenyx.com