Shares in HemoGenyx Pharmaceuticals (LSE:HEMO) PLC jumped 10% following their announcement about the potential cancer treatment applications of its Chimeric Bait Receptor (CBR) platform.
Initially focused on viral diseases, the CBR has shown promising results in treating Non-Hodgkin Lymphoma (NHL) in laboratory settings.
HemoGenyx believes there is also scope to develop treatments for various solid tumours, including ovarian cancer and certain carcinomas.
The company's use of artificial intelligence (AI) in research and development has accelerated the process, particularly in protein structure simulations and messenger RNA (mRNA) synthesis.
Additionally, preliminary tests indicate that CBR is effective against the live SARS-CoV-2 virus in vitro, with further in vivo testing planned. These developments mark significant progress in HemoGenyx Pharmaceuticals (LSE:HEMO)' efforts to combat challenging diseases.
HemoGenyx shares hit 2.86p in early deals, before settling at 2.54p.