Source - Alliance News

Hemogenyx Pharmaceuticals PLC shares jumped early Monday, after the company announced the discovery of a single target protein for use against multiple dangerous viruses.

Hemogenyx is a London-based, pre-clinical stage biopharmaceutical company, developing new medicines and treatments to tackle blood and autoimmune disease. The company’s chimeric bait receptor platform technology is designed to program immune cells to eliminate viral infections by destroying the viruses that cause them.

Hemogenyx said that its scientists have identified a target protein that can be incorporated into a single multi-purpose CBR-based therapeutic, replacing the need to produce a separate CBR construct for every virus.

Among the viruses are Dengue, Ebola, Marburg, Zika, and Chikungunya.

Company directors said the discovery of a single target protein was ‘further evidence of the potential power’ of Hemogenyx’s CBR technology, and demonstrates the possibility of accelerating the development of antiviral therapeutics.

‘We are pleased now to be announcing further exciting developments in our CBR platform. CBR is a ground-breaking new approach to treat existing and emerging viral infections as well as potentially becoming an effective new form of cancer treatment,’ said Chief Executive Officer Vladislav Sandler.

‘On the viral front, its potential ability to treat a very wide range of viruses give it the potential to revolutionise the treatment of viral diseases and even to become the means of counteracting biological warfare.’

Hemogenyx shares were trading 24% higher at 2.30 pence each in London on Monday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Hemogenyx Pharmaceuticals PLC (HEMO)

+0.02p (+1.37%)
delayed 15:52PM