Hemogenyx Pharmaceuticals PLC - pre-clinical stage biopharmaceutical firm based in London - Successfully completes development of its CDX antibody with an unnamed "leading" global pharmaceutical company. Has chosen a clone of its CDX antibody that is ready for investigational new drug application-enabling studies, marking a "significant step" toward clinical trials.
As of Monday, the global pharmaceutical company has three months to exercise an option to license Hemogenyx's intellectual property necessary to exploit the CDX antibody on an exclusive worldwide basis.
"In the event GlobalCo and company are unable to reach an exclusive licensing agreement within six months of GlobalCo's exercise of the option, if any, or if GlobalCo does not exercise the option, Hemogenyx Pharmaceuticals will have three months to exercise an option to license the GlobalCo's intellectual property necessary to exploit the CDX antibody on an exclusive worldwide basis, followed by six months to reach an exclusive licensing agreement," company says.
Confident successful outcome will be achieved to take development of antibody forward to clinical trials.
Current stock price: 8.32 pence
Year-to-date change: down 14%
By Lucy Heming;Â lucyheming@alliancenews.com
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Hemogenyx (HEMO)