Hemogenyx Pharmaceuticals PLC - pre-clinical stage biopharmaceutical firm based in London - Draws down GBP12 million from convertible loan note financing facility with Mint Capital Ltd, where it agreed to issue up to GBP60 million convertible unsecured loan notes to Mint Capital back in November. Notes 7.7 million Hemogenyx shares will be issued as an arrangement fee to the financing facility arranger. Says GBP6 million will be used to achieve clinical proof of concept for HEMO-CAR-T for the treatment of acute myeloid leukaemia, with the remainder going towards the development of its other product candidates.
"The use of the financing facility will enable Hemogenyx to move our life-saving technologies forward rapidly, placing the company in a highly competitive position in the treatment of cancer and viral diseases. This without doubt will be in the best interest of patients as well as the company's shareholders," says Chief Executive & Co-Founder Vladislav Sandler.
Current stock price: 7.87 pence
Year-to-date change: down 18%
By Zoe Wickens; zoewickens@alliancenews.com
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Hemogenyx (HEMO)