Conditional Placing to raise £2,500,000

RNS Number : 6624M

Hemogenyx Pharmaceuticals PLC

12 May 2020

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

Hemogenyx Pharmaceuticals plc

("Hemogenyx" or the "Company")

Conditional Placing to raise £2,500,000

Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group, is pleased to announce that the Company has raised £2,500,000 (before expenses) through an oversubscribed placing of 35,714,286 ordinary shares of 1p each (the "Placing Shares") at a price of 7p per share (the "Placing Price"). The fundraise is conditional on shareholders approving the special resolution to be proposed at the Company's Annual General Meeting ("AGM") to be held on 4 June 2020inter alia allowing the Directors to issue equity securities for cash.

The funds raised will be used to:

· progress the Company's studies into the use of its advanced humanized mice for the potential development of human neutralizing antibodies to be used against COVID-19 and related COVID-19 work;

· to advance IND-enabling studies for HEMO-CAR-T, the Company's product candidate which is being developed as a potential blood cancer treatment; and

· for general working capital purposes.

Dr. Vladislav Sandler, Chief Executive Officer, commented, "We are gratified by the greater recognition that is now being given to the work that Hemogenyx is doing. We have raised these funds to support two initiatives that we have announced: our recently initiated studies into the use of our advanced humanized mice in the development of new treatments to fight viral infection, in particular isolating human neutralizing antibodies in the fight against COVID-19, and our ongoing work into the development of HEMO-CAR-T, which could , if successful, provide a new and potentially effective treatment for AML and other blood cancers. "

Admission

The Company has conditionally raised £2,500,000 before expenses at the Placing Price through the issue of the Placing Shares subject to shareholders passing the special resolutions at the Company's AGM to be held on 4 June 2020 giving the Directors the authority to issue the Placing Shares. 

An application will be made for the Placing Shares to be admitted to the Official List of the UK Listing Authority by way of a Standard Listing ("Admission") and it is expected that Admission will become effective and that dealing in the Placing Shares will commence on or around 5 June 2020. The Placing Shares will rank pari passu with the existing ordinary shares of the Company.

Total Voting Rights

Following Admission, the enlarged issued share capital of the Company will comprise 432,968,255 ordinary shares of 1p each. No ordinary shares are held in Treasury. The total number of voting rights in the Company is therefore 432,968,255 . The figure of 432,968,255 ordinary shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their investment in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Hemogenyx Pharmaceuticals plc	www.hemogenyx.com
Dr Vladislav Sandler, Chief Executive Officer	[e-mail]
Peter Redmond, Director
SP Angel Corporate Finance LLP	Tel: [phone]
Matthew Johnson, Vadim Alexandre, Soltan Tagiev
Peterhouse Capital Limited	Tel: [phone]
Lucy Williams, Duncan Vasey, Charles Goodfellow
US Media enquiries	Tel: [phone]
Lowell Goodman	[e-mail]

 

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