HemoGenyx Pharmaceuticals PLC (LSE:HEMO) saw its shares catapulted 35% higher on Monday following an encouraging update on its Chimeric Bait Receptor platform technology.
The company said it has identified a target protein that can be used in a single multipurpose CBR-based therapeutic to treat multiple viruses belonging to different families, including Dengue, Ebola, Marburg, Zika, and Chikungunya.
Hemogenyx added that its directors believe that the discovery of a single target protein for use against multiple dangerous viruses is “further evidence of the potential power of the Company's CBR technology”.
At the time of writing, HemoGenyx shares were changing hands at 2.56p with a £24.6mln market capitalisation.