Hemogenyx Pharmaceuticals PLC CDX Option Update (3698V)
14 April 2021 - 4:00PM
UK Regulatory
TIDMHEMO
RNS Number : 3698V
Hemogenyx Pharmaceuticals PLC
14 April 2021
14 April 2021
Hemogenyx Pharmaceuticals plc
("Hemogenyx Pharmaceuticals" or the "Company")
CDX Option Update
Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical
group developing new therapies and treatments for blood diseases,
announces an update on negotiations regarding the future
development of its leading product candidate CDX bispecific
antibody ("CDX") for the treatment of acute myeloid leukemia
("AML") and other potential applications.
On 13 January 2021, the Company announced the completion of the
development of CDX with a global pharmaceutical company
("GlobalCo"). With the original development phase of the agreement
completed, GlobalCo or the Company would exercise an option to
license the other party's intellectual property necessary to
exploit the CDX antibody. On 1 April 2021, the Company announced
that negotiations regarding the licensing and development of CDX
had commenced, and that the results of those negotiations will be
announced upon their completion.
The Company has now received notice from GlobalCo that it will
not exercise its option to license the Company's intellectual
property. Accordingly, the Company has given notice to GlobalCo of
its intention to exercise its own option to license GlobalCo's
intellectual property on an exclusive, worldwide basis. The Company
continues to work actively with GlobalCo in relation to development
of the antibody, and to negotiate with GlobalCo to determine the
exact terms of the licence and GlobalCo's continued involvement in
the progression of CDX toward clinical trials. Further
announcements will be made in due course.
Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx
Pharmaceuticals, commented:
"We are pleased with the progress of our negotiations with
GlobalCo and their continued interest in working with Hemogenyx
Pharmaceuticals. We look forward to advancing our CDX antibody to
clinical trials."
About AML
AML, the most common type of acute leukemia in adults, has poor
survival rates (a five-year survival rate of less than 30% in
adults) and is currently treated using chemotherapy, rather than
the potentially more benign and effective form of therapy being
developed by Hemogenyx Pharmaceuticals. The successful development
of the new therapy for AML would have a major impact on treatment
and survival rates for the disease.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation No 596/2014 until the release of this announcement.
Enquiries:
Hemogenyx Pharmaceuticals plc https://hemogenyx.com
Dr Vladislav Sandler, Chief Executive
Officer & Co-Founder headquarters@hemogenyx.com
Peter Redmond, Director peter.redmond@hemogenyx.com
Tel: +44 (0)20 3470
SP Angel Corporate Finance LLP 0470
Matthew Johnson, Vadim Alexandre,
Adam Cowl
Tel: +44 (0)20 7469
Peterhouse Capital Limited 0930
Lucy Williams, Duncan Vasey, Charles
Goodfellow
About Hemogenyx Pharmaceuticals plc
Hemogenyx Pharmaceuticals is a publicly traded company (LSE:
HEMO) headquartered in London, with its US operating subsidiaries,
Hemogenyx Pharmaceuticals LLC and Immugenyx LLC, located in New
York City at its state-of-the-art research facility.
The Company is a pre-clinical stage biopharmaceutical group
developing new medicines and treatments to treat blood and
autoimmune disease and to bring the curative power of bone marrow
transplantation to a greater number of patients suffering from
otherwise incurable life-threatening diseases. Hemogenyx
Pharmaceuticals is developing several distinct and complementary
product candidates, as well as platform technologies that it uses
as engines for novel product development.
For more than 50 years, bone marrow transplantation has been
used to save the lives of patients suffering from blood diseases.
The risks of toxicity and death that are associated with bone
marrow transplantation, however, have meant that the procedure is
restricted to use only as a last resort. The Company's technology
has the potential to enable many more patients suffering from
devastating blood diseases such as leukemia and lymphoma, as well
as severe autoimmune diseases such as multiple sclerosis, aplastic
anemia and systemic lupus erythematosus (Lupus), to benefit from
bone marrow transplantation.
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