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Redx Pharma unveils second major collaboration in a month as it strengthens ties with Jazz Pharmaceuticals

The company will receive US$10mln upfront, a further US$10mln in year-two as well as US$400mln in milestone payments and tiered royalties

Redx Pharma PLC -
Redx chief executive Lisa Anson said the latest deal built on a “strong working relationship” with its American partner

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.

Quick facts: Redx Pharma PLC

Price: 66.5 GBX

AIM:REDX
Market: AIM
Market Cap: £129.84 m
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