Business
CDX Option Update
CDX Option Update.
About this update from Hemogenyx Pharmaceuticals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3698V\n Hemogenyx Pharmaceuticals PLC\n 14 April 2021\n \n \n \n \n 14 April 2021\n \n \n \n \n \n Hemogenyx Pharmaceuticals plc\n \n \n (\"Hemogenyx Pharmaceuticals\" or the \"Company\")\n \n \n \n \n \n CDX Option Update\n \n \n \n \n \n \n \n \n Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases, announces an update on negotiations regarding the future development of its leading product candidate CDX bispecific antibody (\"CDX\") for the treatment of acute myeloid leukemia (\"AML\") and other potential applications.\n \n \n \n \n \n On 13 January 2021, the Company \n \n \n announced\n \n \n the completion of the development of CDX with a global pharmaceutical company \n (\"GlobalCo\"). \n With the original development phase of the agreement completed, GlobalCo or the Company would exercise an option to license the other party's intellectual property necessary to exploit the CDX antibody. On 1 April 2021, the Company \n \n \n announced\n \n \n that negotiations regarding the licensing and development of CDX had commenced, and that the results of those negotiations will be announced upon their completion.\n \n \n \n \n \n The Company has now received notice from GlobalCo that it will not exercise its option to license the Company's intellectual property. Accordingly, the Company has given notice to GlobalCo of its intention to exercise its own option to license GlobalCo's intellectual property on an exclusive, worldwide basis. The Company continues to work actively with GlobalCo in relation to development of the antibody, and to negotiate with GlobalCo to determine the exact terms of the licence and GlobalCo's continued involvement in the progression of CDX toward clinical trials. Further announcements will be made in due course.\n \n \n \n \n \n Dr Vladislav Sandler, CEO & Co-Founder of Hemogenyx Pharmaceuticals, commented: \n \n \n \"We are pleased with the progress of our negotiations with GlobalCo and their continued interest in working with Hemogenyx Pharmaceuticals. We look forward to advancing our CDX antibody to clinical trials.\"\n \n \n \n \n \n About AML\n \n \n \n \n \n AML, the most common type of acute leukemia in adults, has poor survival rates (a f...