LONDON (ShareCast) - (Sharecast News) - Biopharmaceutical group Hemogenyx Pharmaceuticals announced on Wednesday that its wholly-owned subsidiary Immugenyx has entered into a research agreement with a global pharmaceutical company.
The London-listed firm said the identity of the pharmaceutical company needed to remain confidential at their request, adding that under the terms of the deal, it would pay $75,000 to Immugenyx for the research it conducted.

According to the agreement, Immugenyx would grant a worldwide, non-exclusive, royalty-free licence to any know-how and any patents and patent applications arising from the deal to the pharmaceutical company, to use solely for their own research and product development purposes.

Immugenyx would also grant an option to an exclusive licence of patents or patent applications arising from the agreement.

The terms of the exclusive licence would be negotiated in good faith and on reasonable commercial terms at the time the global pharmaceutical company exercised the option, the Hemogenyx board explained.

It noted the agreement followed the development agreement for the company's CDX antibodies with the same pharmaceutical company, announced on 14 May 2018.

Immugenyx was also progressing the building of a model of human systemic lupus erythematosus, utilising its humanised mice, together with Janssen Research & Development, - one of the Janssen Pharmaceutical companies of Johnson & Johnson, as announced on 15 October 2018.

"This agreement represents a further step forward in the acceptance and use of our new type of humanised mice within the pharmaceutical community," said Hemogenyx co-founder and chief executive officer Dr Vladislav Sandler.

"We are particularly pleased to be working with this global pharmaceutical company, a leader in the field of cancer and autoimmune disease treatment."

Dr Sandler said the agreement further affirmed the value of the company's new type of humanised mice, and let it extend its work into a wider range of disease models and the development of specific drugs.

"The advancement of this research and potential future collaborations serve both as a validation of our technology and a means of support for the further development of our CDX bi-specific antibody product candidate."

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