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Institutional backing of £709,200 for continuing Phase 1 Clinical Trials
LONDON, UNITED KINGDOM / ACCESS Newswire / March 11, 2025 / Hemogenyx Pharmaceuticals plc (LSE:HEMO) ("Hemogenyx Pharmaceuticals" or the "Company") is pleased to announce that it was approached by an institution wishing to make an investment into the Company; this investor will subscribe £709,200 for the issue of 394,000 new Ordinary Shares (the "Subscription Shares") at £1.80 per share.
The subscribing institution will also receive a one-for-two warrant, exercisable at a price of £3.50 per share for each share subscribed (the "Warrants").
The net proceeds of this subscription will be dedicated to the continuation of the Phase I clinical trials for the Company's Chimeric Antigen Receptor T-cell therapy ("HG-CT-1"), aimed at treating relapsed/refractory acute myeloid leukemia in adults ("R/R AML"). As shareholders will be aware, the initial patient was infused with HG-CT-1 in February 2024 and, subject to a satisfactory outcome, a second patient will be recruited and treated as quickly as practical.
The Company will keep the market informed of future developments as trials proceed.
An application is being made to the Main Market of the London Stock Exchange, and admission of the Subscription Shares to trading is expected on or around 18 March 2025 ("Admission"). The Subscription Shares will rank pari passu with the Company's existing Ordinary Shares.
Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:
"We are very pleased with the progress of the clinical trials for our lead product, HG-CT-1.We are greatly encouraged by the confidence shown by the backing of the institution and are grateful for their support in advancing our mission to bring innovative treatments to patients with acute myeloid leukemia. This investment enables us to take a significant step forward with our HG-CT-1 program, moving further with clinical trials and bringing us closer to providing a new therapeutic option for patients facing this aggressive disease."
Total Voting Rights
For the purpose of the Disclosure Guidance and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 4,093,539 ordinary shares. The Company does not hold any shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.