Hemogenyx Pharmaceuticals PLC Announces Strategic Investment from Prevail Partners, LLC

· Prevail Partners, LLC to invest in Hemogenyx Pharmaceuticals.

· Prevail InfoWorks, Inc. to act as Contract Research Organization (CRO) for upcoming Phase I clinical study, expected to commence in 2023.

LONDON, UK / ACCESSWIRE / September 18, 2023 / Hemogenyx Pharmaceuticals plc (LSE:HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases, announces that Prevail Partners, LLC ("Prevail Partners"), an investment fund, has agreed to invest in the Company through a subscription for 11,066,667 ordinary shares (the "New Ordinary Shares") at a price of US$0.075 per share (approximately £0.06) for the total sum of $830,000 (approximately £668,000). The subscription price represents a premium of approximately 240% to the Company's closing share price on 14 September 2023, when agreement was reached as to the final terms of the investment. The agreement governing the subscription (the "Subscription Agreement") contains customary warranties from the Company and Prevail Partners. Following allotment, Prevail Partners will hold approximately 0.96% of the Company's issued share capital.

The Company's wholly owned subsidiary, Hemogenyx Pharmaceuticals LLC, has also signed a Master Service and Technology Agreement ("MSTA") with Prevail InfoWorks, Inc. ("InfoWorks"), a Philadelphia, PA based Contract Research Organization (CRO) and affiliate of Prevail Partners. Under the terms of the MSTA, InfoWorks is to provide clinical services and technologies for the Company's upcoming Phase I study of its anti-FLT3 chimeric antigen receptor-redirected T cells ("CAR-T cells") in subjects with relapsed/refractory acute myeloid leukemia (AML). Services include clinical site coordination, project management, data management, clinical monitoring, and pharmacovigilance (safety management) services, and the use of InfoWorks' integrated real-time data analytics platform, The Single Interface®, for clinical support and real-time data analysis. The MSTA has an initial term of 40 months, and Hemogenyx Pharmaceuticals LLC has agreed an initial statement of works relating to the Phase I AML study.

The subscription funds will in large part defray the payment made by the Company for the first stage of the work being undertaken by InfoWorks under the MSTA.

Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented: "As we seek to bring the curative power of cell therapies to a greater number of patients suffering from otherwise incurable life-threatening diseases, we are very confident in Prevail InfoWorks' ability to coordinate our Phase I clinical trial in relapsed/refractory AML. Their operational experience and expertise will enable a smooth execution of the study, while their specialization in real-time data integration and analytics will ensure fast, reliable data access to lower our clinical risk and potentially speed up our regulatory timeline. Prevail Partners' strategic investment in the Company demonstrates their confidence in our CAR-T program and in our ability to execute the upcoming clinical study."