Silver Falcon PLC has acquired a US-based biotechnology company HemoGenyx Pharmaceuticals Ltd for 228.6 million shares that are priced at 3.5-pence each. The biotechnology company develops novel therapies and treatments to transform blood and bone marrow cell transplantation. The deal is categorized as a ‘Reverse Takeover.’
Once the acquisition process is completed, the company will start trading under a new name ‘Hemogenyx Pharmaceuticals Plc’ together with a new ticker symbol ‘HEMO’. In connection with the acquisition, GBP2.0 Million has been raised thru subscription and placing of 57.1 million shares using the same price.
Here’s what the team at HemoGenyx Pharmaceuticals has to say about their services and goals:
‘’HemoGenyx is a preclinical-stage biotechnology company focused on the discovery, development and commercialisation of novel therapies and treatments for blood diseases, like leukemia and lymphoma. The company’s leading technologies aim to change the way in which bone marrow/hematopoietic stem cell (BM/HSC) transplants are performed and improve their efficacy.
HemoGenyx’s two distinct and complementary products include an immunotherapy product for patient conditioning, the CDX bi-specific antibody, and a cell therapy product for BM/HSC transplantation, the HuPHEC. Each of these products holds the potential to revolutionize the way BM/HSC transplants are being performed, offering solutions that mitigate the dangers and limitations associated with the current standard of care.’’
Furthermore, around 3.4 million worth new shares be allotted to employees and directors and up-to 24.6 million shares will issued to employees, directors and advisers. All the shareholders will give their opinion on the deal by voting at a General Meeting on Oct 4. If everything is completed smoothly, Silver Falcon will change its name Hemogenyx LLC to Hemogenyx Pharmaceuticals PLC.
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