Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF), the UK-based biotechnology firm, has secured £340,000 through a placing of 100,000 new shares at 340p each.
The investment round was underwritten by a single institutional investor, who also received 50,000 warrants exercisable at 500p per share, valid for 12 months from March 1.
The company stated that proceeds from the placing will be directed towards advancing clinical trials of its lead therapy, HG-CT-1, which targets relapsed or refractory acute myeloid leukaemia (AML) in adults.
Hemogenyx noted that recruitment for the trial is underway, with the first patient undergoing eligibility screening.