Member Info for Hulver

As Vlad presumably still has connections there, I suppose the following could be a possibility, at the Conconi Family Immunotherapy Lab

https://navigator.innovation.ca/en/facility/university-british-columbia/bc-cancer-immunotherapy-program

https://www.bccrc.ca/programs/bc-cancer-immunotherapy-program

may need to copy and paste the links to open.

Depends how they use the money.

Thanks, hopefully it will give us another opportunity to ask questions and confirm status of developments.

At the meeting that Vlad had last week with some investors following the conference was any mention made of the website, and getting that updated to reflect the current projects and status?

Also any mention of the expected date/venue for the AGM (last year was announced last trading day of May)?

Unfortunately I didn't get the opportunity to attend this meeting but for anyone wanting to hear what might have been said there are two recent interviews with Vlad on the company website, investors/media coverage section 21/03/22 and 23/03/22, that anyone can listen to:

https://total-market-solutions.com/2022/03/hemogenyx-pharmaceuticals-march-2022/

https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-vladislav-sandler-ceo-hemogenyx-pharmaceuticals-8f9960f/

In the first of these with TMS, around 8.00 - 9.30 minutes in Vlad mentions that they have 18 months from when the seminal patent was filed to progress CBR, before it is published and the 'whole world will see'. So that indicates the importance of pressing on with it as quickly as possible this year.

In the second with Zak Mir, he refers to the next stage of testing in vivo, for which they are talking to a possible partner that would facilitate use of BSL3 lab; and if in vivo testing is successful then 'it may go fast'.

These worth revisiting.

Let's hope that these changes are indeed just part of a natural evolution, and that with those retained and the new incoming scientists Vlad is able to maintain and even enhance the combined resource and capabilities of the company's scientific team to what is needed for this.

Recently I posted an update of staff promotions in May 22 under the title "Progression", however in contrast to that view I have just noted the following scientific staff loss in Q1:

Scientist Raymond Liang who had been with Hemo nearly 3½ years left the company in March 22 to join Mnemo Therapeutics at the level of Scientist II.

https://www.linkedin.com/in/raymond-liang-ph-d-57a690102

Raymond Liang seems to have been involved in both CAR-T and CDX development, and if what we are told about the time CBR has taken to develop quite possibly involved in that too. He was pictured recently with Ronen Ben Jehuda and Elina Shrestha (in a Hemogenyx Twitter post around December time) on a business trip to Maryland.

So in spite of how well Hemo pay their scientists and their clearly defined goals and career progression (per Vlad’s tweet this week), the praise he has given for the quality of the Hemo scientists' work and its contribution to the development of HEMO CAR-T, CDX and CBR products, the further potential of those products, and also the move to purpose built modern facility at the Mink Building – we lose a scientist with 3½ years Hemo experience and knowledge. Whilst there may have been personal reasons for the move - actions (or indeed lack of them) speak loudly! On the face of it seems a bit of a blow to have lost another scientist.

In summer 2021, Carina Sirochinsky who appeared to be of a similar senior level to Raymond also left ; that seemed to be off the back off the completion of CDX and the decision of Lilly not to license it. So two of the original “dream team” as Vlad posted last year on twitter – now elsewhere.

I took a look at Mnemo Therapeutics - quite impressive in terms of expansion and private equity funding. I cannot comment on how likely they are to be successful of not (but their clearly seems to be an overlap with Hemo's ambitions). Raymond’s experience and knowledge is now there!

https://www.linkedin.com/company/mnemo-therapeutics?trk=public_profile_topcard-current-company

https://www.fiercebiotech.com/biotech/mnemo-therapeutics-banks-90m-to-tackle-barriers-car-t-therapy

Even if no scientific update is forthcoming this week, we are due an RNS soon – with the date of the AGM – an opportunity then to raise questions directly – why are these scientists leaving and do the board not consider it counter productive to Hemo’s ability to meet its objectives ?

In the 2020 Annual Report (issued 30 April 2021) we were advised with regard to CDX:

"The antibody is now ready to be taken forward to the final stage of testing prior to filing an Investigational New Drug application with the United States' Federal Drug Administration ("FDA") for approval to commence clinical trials. These remaining pre-clinical studies will involve tests in Rhesus monkeys to demonstrate their safety and predict their efficacy in human trials. Clinical trials would then commence with a group of patients with R/R FLT3+ AML who are qualified for HSC/HP transplantation, in order to obtain preliminary data on safety/dose escalation and on efficacy for elimination of both malignant cells and HSC/HP (i.e. conditioning for bone marrow transplantation)."

Subsequent to Lilly giving up their licensing entitlement, further negotiations enabled Hemo to reach agreement for the licencing of Lilly's IP input, and joint patent applications were made with regard to CDX. We were then advised in December that Hemo had partnered with Selexis to progress CDX.

With Vlad speaking in London on Wednesday, I wonder will we get a positive update from the results of the pre-clinical studies on Rhesus monkeys this week as that would add further substance to the London presentation over and above that which he has shared previously?

Apologies, just to correct the mistake I made in my previous post, it is:

Elina Shrestha is the senior scientist who was promoted to Director of Preclinical Development.
Louise Pham is a research associate.

SocialistB,

The update to employee positions are noted on the employees' own linkedin pages eg:

https://www.linkedin.com/in/michael-haugbro-0a6a0395
(not sure if you will be able to open that directly - I am not a linkedin member and find I cannot always access linkedin pages directly)

Michael was at the Muir Lab Princeton 2015 – 2021, this is also noted on linkedin and confirmed on Muir Lab website alumni page, and the following is a link to paper he is named in as co-author relating to synthetic biology and chemical bait and trap approach (hence why I think his focus may be CBR:

https://pubmed.ncbi.nlm.nih.gov/32472103/

Scientist II – seems an unusual title.

Ronen Ben Yehuda - Principal Scientist
Louise Pham - Director of Preclinical Studies (though this does not seem to be a board position)

In my opinion the company seems to be evolving at a pace now and the strength of the company will become the strength of these scientists (and others that join and prove themselves). I imagine Vlad is very selective and hard to please.

This whole biotech subject is fascinating and Hemo a compelling investment (I just think we investors are subject to unnecessary risk exposure with the current governance structure, and in my view that risk crystallised in insufficient due diligence on the Mint CLN transaction, that the company now has to work its way out of).

Further staff promotions noted (effective May 2022):

Ronen ben Jehuda - now Principal Scientist
Michael Haugbro - now Scientist II

Pleased to see that these impressive scientists remain engaged.
If you recall Michael Haugbro's CV includes prior work which seems to link in with Hemo's principles of CBR.

Totally agree - inappropriate governance for the size of company that Hemogenyx aspires to be; and in my opinion this has been fundamental in the decisions of Lilly and other potential partners to limit/withdraw their involvement, as well as past (and worse still no doubt future) difficulties obtaining financing. Without professional governance there is a real risk that the potential will not be realised - which ironically is exactly what Vlad was trying to avoid when he established the company - wasn't it?

It's the apparent lack of support from other directors (with exception of Feldman) and company secretary that I think should be the focus of shareholders, and this can be voiced/voted on at the AGM.

The Board are few in number, so to function properly with proper corporate governance each board member needs to be dedicating significant time outside of attending board meetings (which per the financials they do seem to do, but why then the position we are in). Questions need to be raised at the AGM to ascertain just what exactly each board member is contributing in terms of quality and hours. If matters dictate that we need to expand the board (or hopefully just replace) then that is what should be pushed for, but why should the company be paying directors whose main focus is not the governance of Hemogenyx.

The financials have been released last minute again and this time everything does seem rushed and poor quality - indicative of the fact that the board and CFO do not have sufficient time to undertake their roles properly due to their other interests (and therefore arguably should not be doing so). Doesn't the FSA ensure that directors of listed companies have sufficient time to dedicate to the roles that they undertake?

Roll on the AGM.

Also note Lilly Q1 update and investor call scheduled for Thursday 28th.

The resurrection of Hemo perhaps!

So if the share price continues to rise or rises quickly, What Then Must We Do?

Then we are faced with new (potentially greater) investment dangers. Whilst it's been a very difficult time holding as the share price has fallen, in my opinion the more challenging time lies ahead of us - how to remain patient and not exit too early, in order to realise the most from this investment opportunity and not underachieve as Hemo's fountain springs forth.

There's certainly further questions here for the AGM. As a paid employee my company would not expect me to putting my time into some potentially competitor entity. If this turns out to be the case, what are the other board members doing in terms of corporate governance and shareholder protection?

Then there is CellBRate Life Sciences LLC - what has happened to that (is he still trying to keep it quiet, has it been liquidated)?

Serious questions to be raised if neither of these two entities (both established in 2021) is reported/referred to as a subsidiary in the audited financial statements which are due to be issued by 30 April (so Friday 29th April).

Several reasons to use Delaware LLC's, offshore companies, (but often to hide ownership) - for a UK listed company to use such underlying companies seems a questionable practice, it would be generous to say that Delaware's not the most regulated or reputable jurisdiction, that's why people use it ? Remember Mint (similarly registered in Bermuda, unregualted) - anyone ever find anything out about them and why were Hemo dealing with such an outfit ?

others starting to see the fountain forming yet ?

Shares: Not for sale.

I still consider that some of the current sell-off could be down to forced sellers in the investor base given the Russia/Ukraine situation - I try to quell the thought that the RNS was to generate an uplift from the lows for them (since Vlad has previously stated that they will only announce news when there is something to announce).

However, let's not forget the other seemingly non-per-performing directors and company secretary that allowed the CLN fiasco to happen.

Taken at face value it was better to have an update yesterday which confirms that there is no business reason to sell and I remain am hopeful that the lack of information and trust will continue to be addressed in the period through to the release of the annual report and financial statements, but if not, clearly the next step should be attendance at the AGM, voicing concerns and voting for change.

Status:
Fountain: Building
Shares: Not for sale

Let's move on soon. GLA.

We are quite possibly seeing some forced sellers in the past few days since it is likely that some of the shareholder base may be Russian investors. Well done to those picking them up. It seems that the shareholder base has been consolidating over the past nine months since the share issue and that may serve long term holders well if/when Hemo provides a comprehensive operational update (which should at least happen end April).