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Redx Pharma to focus on progressing oncology and fibrotic drugs in 2019

2019 will be an important year for the firm with the re-start of Phase I/IIa trial for RXC004, part of a niche, and potentially breakthrough group of cancer drugs
Redx Pharma to focus on progressing oncology and fibrotic drugs in 2019
After an internal review, Redx’s new CEO has set out plans for a streamlined drug development pipeline

Redx Pharma Plc’s (LON:REDX) new management team plans to focus its cash resources on progressing its drug leads in oncology and fibrotic disease to clinical proof-of-concept in 2019.

Following an extensive internal review, Redx’s new CEO – former AstraZeneca (LON:AZN) UK president Lisa Anson – has set out plans for a slimmed-down pipeline in the two disease areas, with the aim of progressing the drugs to the clinical proof-of-concept stage, broker Hardman & Co said in a note to clients on Tuesday.

READ: Redx Pharma ready to relaunch with AstraZeneca’s former UK boss now at the helm

Next year will be an important year for the firm with the re-start of Phase I/IIa trial for RXC004, part of a niche, and potentially breakthrough group of cancer drugs called Porcupine inhibitors. They work by dialling down the Porcupine protein, which is the control switch for the Wnt pathway – known to be heavily involved in cell growth and division.

Hardman & Co said under Anson, Redx now has a clear vision and a streamlined pipeline focused on "high unmet needs in oncology and fibrotic diseases", and the ability to leverage its medicinal chemistry expertise.

The AIM-quoted biotech also aims to nominate one to two development candidates from a portfolio of three fibrosis programmes, with first clinical trials in 2020.

“After a difficult period, Redx has emerged in much better shape. While all early-stage pharma and biotech companies carry substantial risks and are capital intensive, the rewards can be substantial, as evidenced by the successful disposal of its BTK programme for £30.5mln in cash in 2017,” Hardman analysts added.

Shares in Redx were 1.1% down at 8.60p in mid-afternoon trade.

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