Redx Pharma: With two wholly-owned assets in the clinic there are now plenty of catalysts
- Redx Pharma receives latest US$3mln milestone payment under Jazz Pharmaceuticals agreement
- Redx Pharma strikes balance between in-house programmes and partnerships
- Redx Pharma presents at European Society for Medical Oncology (ESMO) Congress
Quick facts: Redx Pharma PLC
Price: 102 GBX
Market Cap: £280.28 m
About the company
Redx is a biotech company focused on the discovery and development of novel targeted medicines for the treatment of cancer and fibrotic disease, aiming to progress them to clinical proof of concept (PoC).
How it is doing
Redx Pharma PLC (LON:REDX) said it received a US$3mln milestone payment from US-listed partner Jazz Pharmaceuticals (NASDAQ:JAZZ).
It follows the initiation of investigational new drug-enabling studies of Redx-discovered JZP815, a potential next-generation cancer treatment.
Under the deal with Jazz, Redx can receive up to US$203mln in development, regulatory and commercial milestone payments.
It is also eligible for royalties based on any future net sales.
Redx Pharma PLC (LON:REDX) announced it is moving to phase 2 of trials for its lead drug candidate RXC004, expected to start during the second half of 2021.
The drug discovery and development company has selected dosage of 2mg once daily, based on the safety profile observed in phase 1.
It will receive US$4mln of the US$17mln before the start of clinical trials of Redx-developed RXC006, which is targeting fibrotic diseases including idiopathic pulmonary fibrosis.
Insight: Redx Pharma strikes balance between in-house programmes and partnerships
Redx Pharma PLC (LON:REDX) is comfortable after having found a balance between in-house programmes and partnerships with other companies.
This week the biotech announced a collaboration, the first of this kind since its creation in 2010, with US company Jazz Pharmaceuticals to discover and develop two targeted cancer therapies.
What management says
Redx Pharma PLC's (LON:REDX) Lisa Anson joins Proactive London on the same day as the company present research at the European Society for Medical Oncology (ESMO) Congress.
The firm presented the data from the phase I trial of its RXC004 monotherapy study which is their lead drug candidate, described as a potent, orally active porcupine inhibitor being developed as a targeted therapy for cancers triggered by Wnt-ligand.
Anson talks through their plans in motion for the phase II study.
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