Hemogenyx Pharmaceuticals plc (LSE: HEMO), a a clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune disease, announced on Wednesday that it has secured GBP340,000 through the issuance of 100,000 new ordinary shares at GBP3.40 per share to an institutional investor. The investor also received 50,000 warrants exercisable at GBP5.00 each, valid for 12 months from 1 March 2025.

Proceeds will fund the clinical trial of HG-CT-1, the company's lead asset targeting relapsed/refractory acute myeloid leukemia (AML) in adults. Recruitment for the trial's first patient is underway, with funds also supporting subsequent trial stages.

Admission of the new shares to the Main Market of the London Stock Exchange is expected around 15 January 2025, with shares carrying equal rights as existing ordinary shares. Following admission, Hemogenyx Pharmaceuticals' total share capital will comprise 3,604,539 ordinary shares.

Based in London with research operations in New York, Hemogenyx Pharmaceuticals aims to expand the use of curative bone marrow transplantation.