Hemogenyx Pharmaceuticals PLC Announces Convertible Loans Repayment

Rhea-AI Summary

Hemogenyx Pharmaceuticals has successfully repaid convertible loans totaling $2,110,761 to Orgenesis, Inc., a step originally announced in October 2018. Both subsidiaries, Hemogenyx-Cell and Immugenyx, fulfilled the loan repayment terms. The company is poised for continued progress in developing its product candidates, backed by a substantial cash reserve that supports ongoing product development.

Positive

• Successful repayment of convertible loans totaling $2,110,761.
• Substantial cash balance available for continued product development.

Negative

• None.

Hemogenyx Pharmaceuticals plc ("Hemogenyx Pharmaceuticals" or the "Company") Convertible Loans Repayment

LONDON, UK / ACCESSWIRE / November 24, 2021 / As originally announced in October 2018, Hemogenyx-Cell S.A. ("Hemogenyx-Cell") and Immugenyx LLC ("Immugenyx"), each wholly-owned subsidiaries of Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases, each entered into separate convertible loan notes (the "Notes") with Orgenesis, Inc. ("Orgenesis"). The Company announces that each of Hemogenyx-Cell and Immugenyx have now repaid the respective loans pursuant to the terms of the Notes. The total sum in principal and interest repaid was $2,110,761.00.

The Company continues to make rapid progress with its product candidates and retains a substantial cash balance that will enable it to continue its product development as planned.

Enquiries:

Hemogenyx Pharmaceuticals plc	https://hemogenyx.com
Dr Vladislav Sandler, Chief Executive Officer & Co-Founder	headquarters@hemogenyx.com
Peter Redmond, Director	peter.redmond@hemogenyx.com
SP Angel Corporate Finance LLP	Tel: +44 (0)20 3470 0470
Matthew Johnson, Vadim Alexandre, Adam Cowl
Peterhouse Capital Limited	Tel: +44 (0)20 7469 0930
Lucy Williams, Duncan Vasey, Charles Goodfellow

About Hemogenyx Pharmaceuticals plc

Hemogenyx Pharmaceuticals is a publicly traded company (LSE:HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx Pharmaceuticals LLC and Immugenyx LLC, located in New York City at its state-of-the-art research facility.

The Company is a pre-clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune disease and to bring the curative power of bone marrow transplantation to a greater number of patients suffering from otherwise incurable life-threatening diseases. Hemogenyx Pharmaceuticals is developing several distinct and complementary product candidates, as well as platform technologies that it uses as engines for novel product development.

For more than 50 years, bone marrow transplantation has been used to save the lives of patients suffering from blood diseases. The risks of toxicity and death that are associated with bone marrow transplantation, however, have meant that the procedure is restricted to use only as a last resort. The Company's technology has the potential to enable many more patients suffering from devastating blood diseases such as leukemia and lymphoma, as well as severe autoimmune diseases such as multiple sclerosis, aplastic anemia and systemic lupus erythematosus (Lupus), to benefit from bone marrow transplantation.

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SOURCE: Hemogenyx Pharmaceuticals PLC

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FAQ

What is the total amount Hemogenyx Pharmaceuticals repaid in convertible loans?

Hemogenyx Pharmaceuticals repaid a total of $2,110,761 in convertible loans.

When did Hemogenyx Pharmaceuticals announce the convertible loans repayment?

The repayment announcement was made on November 24, 2021.

Which subsidiaries of Hemogenyx Pharmaceuticals repaid the loans?

The loans were repaid by Hemogenyx-Cell S.A. and Immugenyx LLC.

What company did Hemogenyx Pharmaceuticals repay the loans to?

Hemogenyx Pharmaceuticals repaid the loans to Orgenesis, Inc.

How does the repayment of loans affect Hemogenyx Pharmaceuticals?

Repayment demonstrates financial responsibility and allows the company to focus on product development, supported by a substantial cash reserve.