- Hemogenyx Pharmaceuticals' directors are looking forward to the next 12 months with great confidence and high expectations, shareholders at today's annual general meeting will be told.

In a strategic update on its activities, technology and products following its successful IPO and admission to the main market of the London Stock Exchange (LSE) on 5 Oct, the group said: 'Laboratory activities are progressing well and to plan, with capacity expanded and the Company's modest scientific recruitment programme almost complete.

'Activities are focused on working with LakePharma Inc. and Oxford University, its recently announced collaborator, to help progress two distinct but complementary novel proprietary therapies, CDX (a novel bispecific antibody) and HuPHEC (a novel cell therapy), which aim to change the way in which bone marrow/hematopoietic stem cell transplants (BMT/HSCT) are performed and strongly improve their efficacy.'

The update said the directors believed that the company was well-advanced on the planned development steps that were announced on its admission and were looking forward to the next 12 months with great confidence and high expectations.

Chief executive Dr. Vladislav Sandler said: 'We believe the products we are developing should greatly reduce the dangers of patient conditioning procedures and create a new form of blood stem cell transplantation which, if successful, would significantly enhance the long-term success of bone marrow transplants.

'The appointment of LakePharma and collaboration with Oxford University represent significant steps towards our strategic goal of applying novel technologies to transform the lives of bone marrow transplant patients.

'We look forward to keeping shareholders fully abreast of developments as they occur.'

At 8:11am: [LON:HEMO] Hemogenyx Pharmaceuticals Plc share price was +0.13p at 2.5p

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