Development Agreement

RNS Number : 8917N

Hemogenyx Pharmaceuticals PLC

14 May 2018

 

Hemogenyx Pharmaceuticals Plc 

("Hemogenyx" or the "Company")

Development Agreement

Hemogenyx to work with Global pharmaceutical company on CDX antibodies development

Hemogenyx Pharmaceuticals Plc (LSE: HEMO), the biotechnology company developing novel therapies to transform bone marrow, or blood stem cell, transplantation for the treatment of blood diseases, announces that it has signed a development agreement with a leading global pharmaceutical company engaged in the research, development, manufacture and marketing of pharmaceutical products.

Under the Development Agreement (the "Agreement"), Hemogenyx will receive on a cost-free basis technical support, access to advanced methods of discovering, developing and engineering antibodies, and certain intellectual property which is expected to assist the successful preclinical development of the Hemogenyx's lead candidate bi-specific CDX antibodies. This will complement the Company's own development work currently being undertaken. The Agreement stipulates certain confidential provisions, including, at this stage, the pharmaceutical company's identity.

Hemogenyx believes that the Agreement will increase the probability of its success in bringing CDX antibodies to clinical trials and beyond. CDX bi-specific antibodies are being developed in order to replace traditional methods of conditioning patients for bone marrow transplants. Additionally, they would allow more patients to benefit from the curative power of bone marrow transplants by eliminating the need for pre-transplantation chemotherapy and radiation, which can compromise  a patient's ability to receive such transplants. Hemogenyx is developing its lead candidate in readiness for the start of Phase 1 trials.

Under the Agreement, Hemogenyx will grant the global pharmaceutical company a research license for anything jointly developed under the Agreement, as well as an option for an exclusive worldwide license to commercially exploit CDX antibodies or any variants, which will be jointly developed under the Agreement. If such option is not exercised by the global pharmaceutical company, the Company has the option to license the jointly developed CDX antibodies or any variants.

Dr. Vladislav Sandler, CEO of Hemogenyx, said: "This agreement provides additional support for our development plans for CDX antibodies, and complements the work that we are already undertaking with our own resources. This close collaboration offers the potential for ongoing value-adding licensing arrangements with a major global pharmaceutical  company with the benefit of their global reach and large-scale resources."

Enquiries:

Hemogenyx Pharmaceuticals Limited		www.hemogenyx.com
Dr Vladislav Sandler, Chief Executive Officer & Co-Founder		Via Walbrook PR
Sir Marc Feldmann, Executive Chairman
Optiva Securities Ltd		Tel: [phone]
Christian Dennis
Shard Capital Partners LLP		Tel: [phone]
Damon Heath, Erik Woolgar
Peterhouse Corporate Finance Limited		Tel: [phone]
Lucy Williams, Duncan Vasey
Walbrook PR (UK Media & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
US Media enquiries
Lowell Goodman	Tel: [phone] or  [e-mail]

About Hemogenyx Pharmaceuticals Plc

Hemogenyx Pharmaceuticals Plc is a publicly traded company (LSE: HEMO) headquartered in London, with its wholly owned U.S. operating subsidiary, HemoGenyx LLC, located in its state-of-the-art research facility in Brooklyn, New York. HemoGenyx is a preclinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapies and treatments for blood diseases such as leukemia and lymphoma. The company's leading technologies aim to change the way in which bone marrow/hematopoietic stem cell (BM/HSC) transplants are performed and improve their efficacy. HemoGenyx's two distinct and complementary products include an immunotherapy product for patient conditioning-the CDX bi-specific antibody-and a cell therapy product for BM/HSC transplantation-the HuPHEC. Each of these products holds the potential to revolutionize the way BM/HSC transplants are being performed, offering solutions that mitigate the dangers and limitations associated with the current standard of care. For more information, visit www.hemogenyx.com.

 

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