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Hemogenyx Pharmaceuticals making pleasing progress

"The board is very pleased with the progress being made with the unlocking of additional opportunities for the CDX antibodies, as well as the potential value that can be created through the company's updated humanised mouse model,” said chairman Sir Marc Feldmann.

HemoGenyx Pharmaceuticals -

HemoGenyx Pharmaceuticals PLC (LON:HEMO) said discussions were continuing with a potential partner interested in a licensing deal for the firm’s CDX antibody technology.

The talks with the unnamed global biopharmaceutical company follow a development agreement announced in May 2018.

The company’s CDX antibodies have been shown in pre-clinical studies to attack and eliminate acute myelogenous leukaemia.

Hemogenyx said it continued to make progress towards making an investigational new drug application to the US Food & Drug Administration for the potential breakthrough.

The update was provided alongside interim results for the life sciences group, one that also charted progress with the company’s humanised mouse model programme and its human postnatal hemogenic endothelial cell technology.

"The board is very pleased with the progress being made with the unlocking of additional opportunities for the CDX antibodies, as well as the potential value that can be created through the company's updated humanised mouse model,” said chairman Sir Marc Feldmann.

"The company is confident that these novel humanised mice will continue to attract the interest of large biopharmaceutical companies and are proving to be the basis of significant collaborations.

“The board believes that the company is well advanced on the planned development steps for its CDX antibodies that were announced at admission, and we hope to provide further updates to shareholders as we progress.”

As is common for companies at this formative stage of development, Hemogenyx was lossmaking in the six months to June 30. The deficit £706,670. It had cash and equivalents as of that date.

Quick facts: HemoGenyx Pharmaceuticals

Price: 6.068 GBX

LSE:HEMO
Market: LSE
Market Cap: £26.31 m
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