Hemogenyx Pharmaceuticals discusses successful £3.5M capital raise as it advances HEMO-CAR-T program

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Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF) Dr Vladislav Sandler joins Proactive's Stephen Gunnion after the pre-clinical stage biopharmaceutical group raised £3.5 million, which will be utilized to progress its lead product candidate, Chimeric Antigen Receptor T-cells (HEMO-CAR-T), into human trials following the lifting of a clinical hold.

The HEMO-CAR-T therapy is focused on treating relapsed and refractory acute myeloid leukaemia.

Despite the challenging market conditions, particularly for biotech firms, Sandler said HemoGenyx successfully secured the necessary funds. He highlighted the company's efficiency and ability to progress with minimal funds, contrasting the struggles faced by other micro-cap companies in raising capital.

Looking forward, Sandler said the company plans to advance its clinical trials and continue development on its CBR platform and CDX bispecific antibody, albeit at a potentially slower pace due to funding limitations.

As a development-stage company, HemoGenyx anticipates further funding needs but remains committed to efficient and fast-paced progress, seeking various funding sources.

Sandler expresses long-term aspirations for HemoGenyx to save lives and generate significant returns for investors.

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