Prevail Partners to invest again in Hemogenyx
Shares of UK drug developer Hemogenyx Pharmaceuticals (LSE: HEMO) rose as much as 9% and closed up 5.9% at 1.70 pence yesterday on the news of a further investment from Prevail Partners.
The investment fund has agreed to invest a total of $350,000 (approximately £269,000) in the company through a subscription for ordinary shares in Hemogenyx at a price of $0.075 per share (approximately 5.6 pence). This follows a similar investment in the company by Prevail Partners announced on September 18, 2024. The subscription price represents a premium of approximately 275% to the Company's closing share price on 1 October 2024.
The subscription will take effect in March 2025 ahead of the planned HEMO-CAR-T pediatric study. This will follow the initiation of the adult clinical trial in HEMO-CAR-T at the MD Anderson Cancer Center, Texas, which is expected to commence later this year. The agreement governing the subscription contains customary warranties from the Company and Prevail Partners.
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