Hemogenyx Pharmaceuticals PLC Announces Placing to Raise US$4.2 million

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LONDON, UK / ACCESSWIRE / February 29, 2024 / Hemogenyx Pharmaceuticals plc ("Hemogenyx Pharmaceuticals" or the "Company") (LSE:HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases, is pleased to announce that it has successfully raised US$4.2 million (£3.325 million) before expenses through the allotment and issue of 166,250,000 new ordinary shares at 2 pence per share (the "Placing", "Placing Shares").

The net proceeds from the Placing will be used to facilitate the development of the Company's Chimeric Antigen Receptor T-cells ("HEMO-CAR-T") for the treatment of acute myeloid leukaemia ("AML"). As announced on 9 February 2024, the Company was informed by the U.S. Federal Food and Drug Administration ("FDA") that it had lifted the clinical hold on the Investigational New Drug ("IND") application for HEMO-CAR-T for the treatment of AML. The funds have been raised to allow the Company to progress HEMO-CAR-T to phase 1 clinical trials.

An application is being made to the London Stock Exchange Main Market and admission of the Placing Shares to trading is expected on or around 6 March 2024 ("Admission"). The Placing Shares will rank pari passu with the existing ordinary shares in the Company.

Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:

"We are extremely pleased to have raised these funds to allow us to progress our lead asset, HEMO-CAR-T, to clinical trials. This is a key development that represents the progression of Hemogenyx Pharmaceuticals to become a clinical stage company and the fundraise was crucial to enable us to progress toward clinical trials, the essential next step for the development of HEMO-CAR-T. I would like to thank new and existing shareholders for their support and for contributing to this sizeable fundraise in difficult market conditions. The recent lifting of the clinical hold by the FDA on our HEMO-CAR-T programme followed a great effort from everyone at Hemogenyx Pharmaceuticals for which I am very grateful."