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Hemogenyx soars as CDX antibody demonstrates effectiveness against acute myeloid leukemia

Vladislav Sandler, the company’s chief executive, said the firm was “encouraged” by the results
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AML accounts for roughly 1.8% of cancer deaths in the US

HemoGenyx Pharmaceuticals PLC (LON:HEMO) shares soared on Wednesday after first data from an animal study of its CDX antibody, designed to treat a form of blood cancer, showed that the treatment was effective in eliminating a subset of cells.

CDX is being developed to treat acute myeloid leukemia (AML), a condition that accounts for roughly 1.8% of cancer deaths in the US with more than 20,000 new cases diagnosed in the US and 18,000 cases in Europe every year.

Vladislav Sandler, the company’s chief executive, said the firm was “encouraged” by the latest results. He added that if successful, CDX could provide a new and potentially effective treatment for AML.

It is estimated that the value of the global therapeutic market for AML was about US$700mln in 2018 and it is expected to grow to more than US$1.5bn by 2024.

In early deals, the company’s shares were up 16.7% at 2.8p.

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