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Redx Pharma 'on a firm footing and able to drive its business plan' following new $30mln facility

Redx Pharma PLC's (LON:REDX) Lisa Anson caught up with Proactive London's Andrew Scott after announcing they've raised US$30mln via the issue of convertible loan notes.

Funds Redmile Group and Sofinnova Partners are putting up US$19mln and US$10mln respectively.

The cash will be used to repay US$6.1mln of short-term debt as well as advancing the development of its oncology and fibrosis drugs.

Quick facts: Redx Pharma PLC

Price: 67.5 GBX

AIM:REDX
Market: AIM
Market Cap: £131.79 m
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Redx Pharma PLC in a great place to move forward after Astra deal says CEO

Lisa Anson, chief executive of Redx Pharma PLC (LON:REDX) says the out-license deal with AstraZeneca for its fibrosis porcupine inhibitor is good news for the company and also for people suffering from the condition. Using a porcupine inhibitor in lung-scarring diseases such as IPF is a novel...

on 4/8/20

2 min read