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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 approach, she says, and Astra will take on the drug through all its development and clinical work from here on. Redx has another fibrosis treatment under development that uses a different methodology, so that means two different ways of coming at what is a very nasty condition, she adds. Astra is paying US$17mln upfront for an exclusive licence with up to US$360mln in milestone payments and single-digit royalty payments on sales also part of the deal.

Quick facts: Redx Pharma PLC

Price: 57.5 GBX

Market: AIM
Market Cap: £112.27 m

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Redx Pharma 'on a firm footing and able to drive its business plan'...

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...

on 30/6/20

2 min read