26th Aug 2025 13:54
(Alliance News) - Hemogenyx Pharmaceuticals PLC on Tuesday said it has raised funds to continue phase 1 clinical trials, through an off-market allotment to its chief executive officer.
The London-headquartered biopharmaceutical company raised GBP570,000 via an allotment to CEO & Co-Founder Vladislav Sandler of 316,667 new shares at 180 pence each.
Shares in Hemogenyx were up 11% at 191.00p on Tuesday afternoon in London, compared to its closing price of 172.00p on Friday.
Sandler has agreed to subscribe for the shares at the issue price, and to "direct their issue to a small group of individual investors who made an approach wishing to make a new investment in the company".
The investor group will also receive warrants on a one-for-one basis, exercisable for 36 months at 180p each.
Hemogenyx, which focuses on treatments for blood diseases, said the net proceeds will go towards the continuation of phase 1 clinical trials for its Chimeric Antigen Receptor T-cell therapy. HG-CT-1 is designed to treat relapsed or refractory acute myeloid leukaemia in adults, R/R AML.
"As shareholders will be aware, the company has made significant strides in its phase 1 clinical trial of HG-CT-1, with early trials supporting growing confidence in both safety and potential efficacy," Hemogenyx said.
Sandler commented: "We are pleased to have attracted funding from a small group of dedicated investors at a premium to the market price. This reflects investors' confidence in the progress made by the company to date and in its long-term prospects.
"The fact that the raise was completed at a premium...demonstrates this confidence and shows that the investors see considerable upside potential in our share price as we advance HG-CT-1 through clinical development."
By Emma Curzon, Alliance News reporter
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