Hemogenyx Pharmaceuticals (AIM:HEMO ) has signed a Biological Investigation and Material Supply agreement with an unnamed leading global pharmaceutical firm, referred to as “GlobalCo”, to develop new treatments for the autoimmune disease, Lupus.
The pre-clinical stage biopharmaceutical group said GlobalCo, which is engaged in the research, development, manufacture and marketing of pharmaceutical products, will supply Hemogenyx with certain biological materials and related confidential information.
Hemogenyx will then perform research and development activities aimed at the discovery and validation of novel materials to be used for the treatment of long-term an autoimmune disease Lupus, in which the body's natural defence system attacks healthy tissues.
Shares in Hemogenyx Pharmaceuticals were trading 12.15% higher at 6p on Friday morning.
"This is a very encouraging agreement that provides additional support for our own plans for the development of novel treatments for Lupus and other autoimmune diseases,” said Dr Vladislav Sandler, Chief Executive and Co-Founder of Hemogenyx Pharmaceuticals.
“It fully complements the work that we are already undertaking with our own resources,” he commented.
While the agreement stipulates certain confidential provisions, including the pharmaceutical company's identity at this stage, Hemogenyx has disclosed that GlobalCo is the same organisation with which it is collaborating to develop its CDX antibody product candidate.
In addition, the group has a research agreement with GlobalCo for the development of its ‘humanised mice’ which have been developed for previous research to focus on coronavirus antibodies.
“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,” added Sandler.
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