14 August 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
REDX PHARMA PLC (in administration)
("Redx" or "the Company")
Redx announces the resignation of Non-Executive Director David Lawrence
Redx (AIM: REDX), the drug discovery and development company focused on cancer and immunology, announces that David Lawrence has resigned from the Board with immediate effect.
David Lawrence said, "I have recently commenced an executive role and it is important that I focus upon that. Now that it is clear that Redx will likely exit administration, I feel that the Company's future is on the way to be secured so I would like to wish the Company and the Board my best wishes going forward"
Iain Ross, non-executive Chairman commented, "On behalf of the Company I would like to thank David for his contribution to the Company over the last 16 months and we wish him well in the future"
For further information, please contact:
Redx Pharma Plc (in administration)
Contact for the Joint Administrators:
James Rossiter (Morgan Rossiter) +44 203 195 3240
Cantor Fitzgerald Europe (Nomad & Broker) +44 207 894 7000
Phil Davies/ Michael Reynolds
WG Partners (Joint Broker) +44 203 705 9317
Claes Spång/ Chris Lee/ David Wilson
Redx's Porcupine inhibitor RXC004 exhibits potent and selective inhibition of the Wnt pathway in in vitro and in vivo models of Wnt dependant cancer. Preliminary results indicate that RXC004 may also enhance the efficacy of checkpoint inhibitors, such as anti-PD-1 antibodies.
About Redx Pharma Plc (in administration)
Company website: Redxpharma.com
Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, immunology and infection, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a broad portfolio of proprietary drug programs.
Jason Baker and Miles Needham have been appointed as joint administrators of Redx Pharma plc (in administration). The Company's affairs, business and property are being managed by the joint administrators.
This information is provided by RNS