Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Hermogenyx shares soar on new partnership with Prevail Partners
(Sharecast News) - Shares in biopharma group Hemogenyx surged on Monday after the company received a $0.83m investment from Prevail Partners as it continues to work on its planned clinical trial for leukaemia treatment.
Investment fund Prevail Partners purchased 11.1m shares at a price of 7.5 US cents a share (around 6p a share), representing a 240% premium to Hemogenyx's closing price on Friday.
It has entered into a master service and technology agreement (MSTA) with Prevail Partners' affiliate company, Prevail InfoWorks, whereby the latter will provide clinical services for Hemogenyx's upcoming Phase I study of its anti-FLT3 CAR-T cell treatment for people suffering with relapsed/refractory acute myeloid leukaemia (AML).
The stock was up 26% at 2.34p by 1401.
Hemogenyx said Prevail Partners' investment "will in large part defray the payment made by the company for the first stage of the work being undertaken by InfoWorks under the MSTA".
InfoWorks will provide clinical site coordination, project management, data management, clinical monitoring, and safety management services.
AML is the most common type of acute leukaemia in adults and has a five-year survival rate of less than 30%. It it currently treated using chemotherapy, but Hemogenyx's CAR-T cell treatment a "potentially more benign and effective form of therapy". CAR-T therapy is a new type of treatment in which a patient's own immune cells are modified to recognise and kill cancer cells.
"Prevail Partners' strategic investment in the company demonstrates their confidence in our CAR-T program and in our ability to execute the upcoming clinical study," said Hemogenyx's chief executive and co-founder Vladislav Sandler.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
