Clinical trials for HEMO-CAR-T: What happens next? ICYMI

The CEO of Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF), Dr. Vladislav Sandler, and non-executive director Peter Redmond spoke to Proactive about key developments, including the extraordinary general meeting. Redmond explained the rationale for the stock consolidation, which is aimed at attracting institutional investors and improving the company’s capital structure as it nears clinical trials for its HEMO-CAR-T product.

Proactive: Vlad, Peter, it’s really nice to talk to you today. They announced an extraordinary general meeting last Friday to seek approval for two fairly large changes. What are the reasons for these changes?

Peter Redmond: There are two reasons for this. Firstly, we have so far relied mainly on the support of private customers, but we have reached a crucial stage in our development. Although we can move forward now, we need additional capital. Last year we spoke to UK institutions and they had two objections: our level of development and our penny stock status. Even though international investors are interested in our clinical trials, they avoid penny stocks. To address this issue, we consolidate stocks to establish a more reputable share price.

In addition, despite good news in recent months, our share price has not reacted as hoped. We don’t want to raise funds at a penny per share and not be constrained by that value. Adjusting our face value gives us flexibility. But I would like to emphasize that we do not intend to raise funds under a penny unless absolutely necessary, which is not our current position.

Proactive: Peter, why make these changes now?

Peter Redmond: We are in discussions with larger investors. Although we are not ready to announce investments yet, they need to see a higher share price to take us seriously. With clinical trials looming, now seems like the right time to consolidate stocks.

Proactive: Vlad, you have made significant progress in the clinical trials for HEMO-CAR-T. What is the significance of this announcement?

Vladislav Sandler: In order to open clinical trials, we must meet hospital requirements. This includes approval by a scientific review committee and an internal review board (IRB). We passed the scientific test and answered all questions. The IRB, comprised of hospital and community members, ensures patient safety. After meeting their requirements, we received an official IRB approval letter, which is almost as important as FDA approval.

Last Friday we completed an introductory site visit involving Hemogenyx, our CRO and the hospital team. Now we are waiting for a letter about the official opening of the clinical trials. Once received, we begin patient recruitment. This step is critical and the cancer center we work with is eager to begin it due to high patient demand for this treatment.

Proactive: Can you provide us with a timeline for testing?

Vladislav Sandler: I can’t give an exact timeline, but it’s imminent. Recruitment is about finding patients who need the treatment and can demonstrate the product’s effectiveness.

Proactive: Any further comments?

Peter Redmond: I think shareholders should know that we have reached an important milestone. While patient recruitment is critical, reorganization is critical to gain access to high-quality funding to advance trials and other projects.

Vladislav Sandler: I agree. Targeting institutional investors and large pharmaceutical companies is critical. For them, the share price is important. The consolidation means we are ideally positioned to secure support.