Hemogenyx to work with Global pharmaceutical company on CDX antibodies development
Hemogenyx Pharmaceuticals Plc (LSE: HEMO), the biotechnology company developing novel therapies to transform bone marrow, or blood stem cell, transplantation for the treatment of blood diseases, announces that it has signed a development agreement with a leading global pharmaceutical company engaged in the research, development, manufacture and marketing of pharmaceutical products.
Under the Development Agreement (the “Agreement”), Hemogenyx will receive on a cost-free basis technical support, access to advanced methods of discovering, developing and engineering antibodies, and certain intellectual property which is expected to assist the successful preclinical development of the Hemogenyx’s lead candidate bi-specific CDX antibodies. This will complement the Company’s own development work currently being undertaken. The Agreement stipulates certain confidential provisions, including, at this stage, the pharmaceutical company’s identity.
Hemogenyx believes that the Agreement will increase the probability of its success in bringing CDX antibodies to clinical trials and beyond. CDX bi-specific antibodies are being developed in order to replace traditional methods of conditioning patients for bone marrow transplants. Additionally, they would allow more patients to benefit from the curative power of bone marrow transplants by eliminating the need for pre-transplantation chemotherapy and radiation, which can compromise a patient’s ability to receive such transplants. Hemogenyx is developing its lead candidate in readiness for the start of Phase 1 trials.
Under the Agreement, Hemogenyx will grant the global pharmaceutical company a research license for anything jointly developed under the Agreement, as well as an option for an exclusive worldwide license to commercially exploit CDX antibodies or any variants, which will be jointly developed under the Agreement. If such option is not exercised by the global pharmaceutical company, the Company has the option to license the jointly developed CDX antibodies or any variants.
Dr. Vladislav Sandler, CEO of Hemogenyx, said: “This agreement provides additional support for our development plans for CDX antibodies, and complements the work that we are already undertaking with our own resources. This close collaboration offers the potential for ongoing value-adding licensing arrangements with a major global pharmaceutical company with the benefit of their global reach and large-scale resources.”
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