Redx Pharma PLC (LON:REDX) has unveiled a collaboration with a US company called Jazz Pharmaceuticals to discover and develop two targeted cancer therapies.
Redx will receive US$10mln upfront, a further US$10mln in year-two, and US$400mln in milestone payments and tiered royalties.
The UK group sold its pan-RAF inhibitor programme to Nasdaq-listed Jazz last July in a deal worth US$3.5mln upfront and milestones and royalties worth US$203mln.
Redx chief executive Lisa Anson said the latest agreement built on a “strong working relationship” with its American partner.
“This new agreement reinforces Redx's strong position as a successful research partner and its expertise in medicinal chemistry and drug design,” she added in a statement.
In the announcement, Redx also said work was progressing on its lead oncology and fibrosis programmes.
The company received a major boost in August when it teamed up with FTSE 100-listed giant AstraZeneca, receiving an initial US$17mln plus US$360mln in development payments and royalties.