By Elena Vardon
Hemogenyx Pharmaceuticals shares jumped on Monday after the company got an $830,000 investment from Prevail Partners through a share subscription at a considerable premium.
At 0721 GMT, shares were up 0.45 pence, or 24%, at 2.30 pence.
The biopharmaceutical group–which develops new therapies and treatments for blood diseases–said the investment fund agreed to subscribe for around 11.1 million shares at $0.075 each, which it said is around 6 pence. Hemogenyx shares closed at 1.85 pence on Friday.
The London-listed group added that it signed a master service and technology agreement, or MSTA, with an affiliate of Prevail Partners–contract research organization Prevail InfoWorks–under which it will get clinical services and technologies for the phase I study of its CAR-T cells in patients with relapsed or refractory acute myeloid leukemia.
The money raised from the subscription will cover the cost for the first stage of the work being undertaken by InfoWorks under the MSTA, it added.
Prevail Partners holds around 0.96% of Hemogenyx’s issued share capital, it said.
Write to Elena Vardon at [email protected]
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