Rns13 Jan 2021 07:05
Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases, is pleased to announce that it has successfully completed the development of its CDX antibody with a leading global pharmaceutical company ("GlobalCo"). As a result of the Company's successful collaboration with GlobalCo, the Company has chosen a clone of its CDX antibody that is ready for investigational new drug ("IND") application-enabling studies, a significant step toward clinical trials.
On 14 May 2018, the Company announced a collaboration with GlobalCo to work on its CDX antibody. Under the Agreement, which stipulated that GlobalCo's identity remain anonymous for the time being, Hemogenyx Pharmaceuticals received, free of charge, technical support, access to advanced methods of discovering, developing and engineering antibodies, and certain intellectual property necessary for the successful preclinical development of the Company's lead candidate bi-specific CDX antibody for the treatment of acute myeloid leukemia ("AML"). This work complemented the Company's own development work that was being undertaken.
With the phase of the Agreement relating to the development of the antibody completed, under the Agreement, as of 11 January 2021, GlobalCo has three months to exercise an option to license the Company's intellectual property necessary to exploit the CDX antibody on an exclusive worldwide basis ("Option"). 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.
In either scenario, the Directors are confident that a successful outcome will be achieved to take the development of the CDX antibody forward toward clinical trials. In the meantime, the Company and GlobalCo will continue developing the CDX antibody asset.
Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented:
"We are extremely pleased with the outcome of our collaboration with GlobalCo, which has resulted in a CDX antibody that is ready to be developed for clinical trials. I am very proud of the Company's team of scientists who, without a doubt, have proven that Hemogenyx Pharmaceuticals is capable of performing cutting edge research and development of the highest calibre. The completion of the development of the CDX antibody with GlobalCo is a key milestone on our path to creating an effective treatment for patients suffering from AML, and we look forward to entering into the next phase of negotiations with GlobalCo."
About AML
AML, the most common type of acute leukemia in adults, has
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