HemoGenyx Pharmaceuticals PLC (LON:HEMO) chief executive Dr Vladislav Sandler described 2017 as a “significant year” after the company listed on the market and inked a collaboration with Oxford University.
But perhaps the most exciting development occurred after the period-end as the company was able to show that its CDX antibodies can attack and eliminate acute myelogenous leukaemia.
While the data emanated from a pre-clinical study, it was nevertheless encouraging.
In Monday's full-year results statement, shareholders were told work is “progressing successfully” towards the goal of submitting an investigational new drug application to the US Food and Drug Administration for its CDX antibodies product.
Lake Pharma deal
During the 12 months ended December 31, the company appointed Lake Pharma supplier of CDX antibodies, while the tie-up with Oxford University will help accelerate development of Hemogenyx's blood cancer treatments.
"2017 was a significant year for Hemogenyx as we successfully listed the business on the London Stock Exchange and raised the financing necessary to further develop novel therapies with the potential to transform the lives of bone marrow transplant patients,” said CEO Sandler.
“We remain on track in the development of both of our products according the timescale we outlined to investors in October. We continue to successfully develop our Hu-PHEC cell therapy product and we are on course to have our CDX antibodies product in readiness for the start of phase I trials as planned.”
In common with companies at this formative stage of development Hemogenyx was loss-making. The deficit was £2.32mln. The company was sitting on just under £1.9mln of cash at the period-end.