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Redx Pharma in busy summer with two major partnerships

Snapshot

  • Cancer drug in the clinic 
  • Promising fibrosis treatments targeting large markets
  • Deals with AstraZeneca and Jazz Pharmaceuticals
researcher at microscope

Quick facts: Redx Pharma PLC

Price: 65 GBX

AIM:REDX
Market: AIM
Market Cap: £126.91 m
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What the company does 

Redx Pharma Plc (LON:REDX) is an early-stage drug developer that is bringing through treatments for cancer and fibrosis. 

Aside from research, it has two in-house programmes: RXC004 and RXC007. 

RXC004 is also a porcupine inhibitor and is being evaluated for Wnt-driven tumours.

Redx says it can be used alone or in combination with immuno-oncology agents such as anti-PD-1 checkpoint inhibitors; the latter have been have been approved in several tumour types, for example non-small cell lung cancer, melanoma and colorectal cancer.

The second programme is for RXC007, which is also for fibrosis patients but targets ROCK2, an enzyme in cell signalling pathways, so it works in a different way than porcupine inhibitors.

ROCK2 signalling plays a key role in both the inflammatory component and the tissue re-modelling that worsens many fibrotic conditions, and it is also active in chronic diseases such as diabetes and metabolic syndrome.

 

It has also partnered with AstraZeneca PLC (LON:AZN), which licenced RXC006 for fibrotic diseases, and Jazz Pharmaceuticals to discover and develop two targeted cancer therapies.

 

 

How it is doing

The summer has been a busy time for Redx, which has clinched two major partnerships in the space of a month.

In August it agreed a licensing deal for a novel fibrosis treatment with pharma giant AstraZeneca for an exclusive licence to develop Redx’s RXC006, a porcupine inhibitor, for fibrotic diseases.

The FTSE 100-listed group will pay US$17mln and up to a further US$360mln in development and commercial milestones, plus tiered royalties.

In September it 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.

Redx will lead the discovery of two drugs against two cancer targets on the Ras/Raf/MAP kinase (MAPK) pathway, while Jazz will take over thereafter and assume responsibility for regulatory and commercialisation steps.

The deal with Jazz builds upon an existing working relationship, as the UK group sold its pan-RAF inhibitor programme to Nasdaq-listed Jazz last July for US$3.5mln upfront and US$203mln in milestones and royalties.

 

What the boss says: Lisa Anson, chief executive

“This new agreement reinforces Redx's strong position as a successful research partner and its expertise in medicinal chemistry and drug design.”

“For a number of reasons I think this is a very good deal for Redx.”

“I am very comfortable with the position we have now with the two programmes with Jazz and we may look at other collaborations with the right partner, but equally we may just prosecute with our own programme.”


 

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