Drug developer Redx Pharma (LON:REDX) has been awarded a US$1mln grant by a US-UK partnership set up to accelerate the development of new antibiotics that combat drug resistant Gram-negative bacteria.
The money from CARB-X will enable Redx to move its Gram-negative antibacterial programme into the next stage of development with a prospective partner.
Chief executive Dr Neil Murray said: “We are delighted to be collaborating with CARB-X, a truly innovative initiative that is targeting the development of new life-saving antibacterials and diagnostics.
“Receiving this grant today is testament to the great science that exists at Redx.
“This grant cements a path forward for our recently announced strategy, to secure external partners to ensure that our high quality anti-infective science will continue whilst we sharpen our focus on the clinical development of our oncology and immunology programmes.”
Redx was one of just 11 companies to receive financial backing from CARB-X, one of the world’s largest public-private partnerships.
The money will be staggered over 18 months with an option for future tiered milestone payments “to drive scientific progress against globally challenging drug resistant Gram-negative bacteria”, the company said.
CARB-X was launched by the US Department of Health and Human Services and is funded by the Biomedical Advanced Research and Development Authority and the Wellcome Trust, a UK charity.