LONDON, UK / ACCESSWIRE / July 13, 2020 / Hemogenyx Pharmaceuticals plc (LSE:HEMO) ('Hemogenyx Pharmaceuticals' or the 'Company')
On 26 June 2020 the Company announced a Development Agreement with a global pharmaceutical company ('GlobalCo'). GlobalCo has now consented to the use of its name in the announcement, an updated version of which is shown below.
Hemogenyx Pharmaceuticals plc is pleased to announce that it has signed a Biological Investigation and Material Supply Agreement ('Agreement') with Eli Lilly and Company ('Lilly'), a leading global pharmaceutical company engaged in the research, development, manufacture and marketing of human pharmaceutical and veterinary products.
Under the Agreement, Lilly will supply the Company with certain biological materials and related confidential information in order for Company to perform research and development activities aimed at the discovery and validation of novel materials ('Materials') to be used for the treatment of systemic lupus erythematosus ('Lupus') and possibly other autoimmune diseases.
This will complement the Company's own development work currently being undertaken. The Agreement stipulates certain confidential provisions.
Under the Agreement, Hemogenyx Pharmaceuticals will grant Lilly a research license for anything jointly developed under the Agreement, as well as an option for an exclusive worldwide license to commercially exploit jointly developed Materials. If such option is not exercised by Lilly, the Company will have an option to license the jointly developed Materials itself.
Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented: 'This agreement provides additional support for our development plans for the development of novel treatments for Lupus and other autoimmune diseases, 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 pharmaceutical company with the benefit of their global reach and large-scale resources.'
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation No 596/2014 until the release of this announcement.
About Hemogenyx Pharmaceuticals plc
Hemogenyx Pharmaceuticals plc is a publicly traded company (LSE: HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx LLC and Immugenyx LLC, located at its state-of-the-art research facility in New York City and a Belgian operating subsidiary, Hemogenyx-Cell SPRL, located in Liège.
Hemogenyx Pharmaceuticals plc is a pre-clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune disease and to bring the curative power of bone marrow transplantation to a greater number of patients suffering from otherwise incurable life-threatening diseases. The Company is developing several distinct and complementary product candidates, as well as a platform technology that it uses as an engine for novel product development.
For more than 50 years, bone marrow transplantation has been used to save the lives of patients suffering from blood diseases. The risks of toxicity and death that are associated with bone marrow transplantation, however, have meant that the procedure is restricted to use only as a last resort. Hemogenyx Pharmaceuticals plc's technology has the potential to enable many more patients suffering from devastating blood diseases such as leukemia and lymphoma, as well as severe autoimmune diseases such as multiple sclerosis, aplastic anemia and systemic lupus erythematosus (Lupus), to benefit from bone marrow transplantation.
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SOURCE: Hemogenyx Pharmaceuticals PLC
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