Hemogenyx Pharmaceuticals (LSE:HEMO) fell 5.7% to 757p after saying it had raised £3m via a direct subscription to accelerate Phase I trials and early commercialisation of its CAR‑T candidate HG‑CT‑1.
The company, a clinical‑stage biopharmaceutical group developing treatments for blood and autoimmune diseases, says the proceeds will be used primarily to advance the adult relapsed/refractory acute myeloid leukaemia (R/R AML) programme now being extended into paediatric patients, while also supporting the hospital‑exemption commercial route it is pursuing.
The raise was completed with a small group of institutional investors by way of a direct subscription of 374,532 new shares at £8.01 per share, the market bid at close on 27 April, representing gross proceeds of £3m. The new shares represent approximately 5.5% of the enlarged issued share capital of 6.8m shares following admission.
Hemogenyx says the necessary manufacturing hardware and infrastructure have been established in Estonia and that it will commence the technology transfer with partner Cellin Technologies OÜ imminently.
"This fundraising marks an important step forward for Hemogenyx as we continue to advance HG‑CT‑1 through clinical development and move closer to potential early commercialisation," said Dr Vladislav Sandler, Chief Executive Officer & Co‑Founder.
