LONDON, UK / ACCESSWIRE / October 27, 2020 / Hemogenyx Pharmaceuticals plc (LSE:HEMO), the biopharmaceutical group developing new therapies and treatments for deadly blood diseases, announces that it has extended a development agreement (the "Agreement") with a leading global pharmaceutical company ("GlobalCo") engaged in the research, development, manufacture and marketing of pharmaceutical products.
On 14 May 2018, the Company announced a collaboration with GlobalCo to work on its CDX antibody. Under the Agreement, which stipulates that the GlobalCo's identity remain anonymous for the time being, Hemogenyx Pharmaceuticals receives - free of charge - technical support, access to advanced methods of discovering, developing and engineering antibodies, and certain intellectual property necessary for the successful preclinical development of the Company's lead candidate bi-specific CDX antibody. This work complements the Company's own development work currently being undertaken.
As a result of the global crisis caused by the COVID-19 pandemic, the Company has agreed with GlobalCo to a further extension of the Agreement until 31 December 2020 in order to properly complete the work required by both parties under the Agreement.
The Company's CEO, Dr Vladislav Sandler, commented, "We are pleased with the work that has been done so far on our CDX antibody product candidate with our GlobalCo partner, and look forward to our continued collaboration and completion of this significant work. This additional extension of the collaboration will allow us to choose the best CDX antibody for pre-clinical and clinical development."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Enquiries:
Hemogenyx Pharmaceuticals plc | https://hemogenyx.com |
Dr Vladislav Sandler, Chief Executive Officer & Co-Founder | headquarters@hemogenyx.com |
Peter Redmond, Director | peter.redmond@hemogenyx.com |
SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0470 |
Matthew Johnson, Vadim Alexandre, Adam Cowl | |
Peterhouse Capital Limited | Tel: +44 (0)20 7469 0930 |
Lucy Williams, Duncan Vasey, Charles Goodfellow | |
About Hemogenyx Pharmaceuticals plc
Hemogenyx Pharmaceuticals is a publicly traded company (LSE: HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx LLC and Immugenyx LLC, located in New York City at its state-of-the-art research facility.
The Company is a pre-clinical stage biopharmaceutical group developing new medicines and treatments to bring the curative power of bone marrow transplantation to a greater number of patients suffering from otherwise incurable life-threatening diseases. Hemogenyx Pharmaceuticals is developing several distinct and complementary product candidates, as well as a platform technology that it uses as an engine for novel product development.
For more than 50 years, bone marrow transplantation has been used to save the lives of patients suffering from blood diseases. The risks of toxicity and death that are associated with bone marrow transplantation, however, have meant that the procedure is restricted to use only as a last resort. The Company's technology has the potential to enable many more patients suffering from devastating blood diseases such as leukemia and lymphoma, as well as severe autoimmune diseases such as multiple sclerosis, aplastic anemia and systemic lupus erythematosus (Lupus), to benefit from bone marrow transplantation.
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SOURCE: Hemogenyx Pharmaceuticals PLC
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