RE: Mice and trials15 Aug 2020 12:11
From RNS. Link to agreement embedded.
To note it says $337k. I spent 2 years waiting for this agreement to be extended as originally Hemo thought they would exhaust contract within months. Revenue appreciation happened much slower as partner worked to validate and improve mice
"The value of AHC as an in vivo platform for disease modelling and drug development, as well as a source of revenue for the Company, has been evidenced not only by two previously announced ongoing collaborations with major biopharmaceutical companies, but also by the interest shown by a number of other biopharmaceutical companies that are currently in talks with the Company about entering into collaborations. The Company will be able to update shareholders as these talks progress.
The first announced collaboration with a major US biotechnology company to use the Company’s AHC as a tool for drug development and testing has progressed well and is expected to generate up to US$377,000 in revenue at the conclusion of the current phase of collaboration (https://goo.gl/M1oKAP). Although confidentiality restrictions prevent Hemogenyx from disclosing the results of the collaboration, the Company is confident that it has been successful to date and that there is the potential to extend it and to generate additional revenue.
The second announced collaboration with Janssen Research & Development, LLC (“Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, is centred on the development of a model of systemic lupus erythematosus (“SLE”, also known as Lupus) using AHC. Lupus is a systemic autoimmune disease wherein patients’ immune systems attack their own organs including the skin, kidneys, blood cells, brain, heart and lungs. Lupus is often a life-long disease that currently has no cure. Establishing a human Lupus model is very important for understanding the emergence and development of the disease. In addition, if successful, the Lupus model will provide the opportunity not only to test therapeutics that are currently under development, but also potentially to discover fundamentally new therapeutic approaches for treatment of the disease (https://goo.gl/rsoqKS)
The Company has also announced that its wholly owned subsidiary Immugenyx has entered into a collaboration agreement with Orgenesis, Inc (“Orgenesis”) to further develop and commercialize its AHC. Orgenesis will advance to Immugenyx a convertible note in an amount of not less than US$1,000,000 that can be converted into shares of Immugenyx at a price per share based on a pre-money valuation of US$8,000,000 with an option to increase the convertible note by up to an additional $1,000,000. For a more detailed description of the terms of the transaction please see the full announcement (https://goo.gl/RKoTpf)
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