Redx Pharma PLC (AIM:REDX) said it is on course to get data from phase 2 trials of IPF treatment zelasudil (RXC007) and cancer drug RXC004 during the first half of 2024.
A third programme, RXC008, for fibrotic Crohn’s disease, is going through Investigational New Drug (IND)-enabling studies and is scheduled to commence a Phase 1 study in healthy volunteers early in 2024, said the statement.
Lisa Anson, chief executive, commented that the past year had been one of “significant progress across our pipeline of clinical and pre-clinical assets” and Redx is now a well-established, clinical-stage biotechnology company.
“Commencing our Phase 2a IPF clinical trial for our lead asset zelasudil, formerly RXC007, underscores our commitment to advancing our differentiated ROCK-inhibitor [fibrosis] portfolio.
"During the year, we presented compelling preclinical data that demonstrate the potential of zelasudil in several other fibrotic indications that we intend to investigate further in the future.
“We are also pleased to confirm the submission of a CTA for our second ROCK asset, RXC008, for which we expect to commence a Phase 1 study early in 2024.”
Redx ended the year to 30 September 2023 with a cash balance of £18 million, which it has subsequently increased through a £14.1 million placing.
That gives it a cash runway until the third quarter of 2024, it added.
Redx also has developments underway in partnership with AstraZeneca and Jazz Pharmaceuticals.
Losses for the year were £33.2 million (£18 million).