Redx Pharma plc Deinove return rights to Redx Programme (5701O)
January 31 2019 - 1:00AM
UK Regulatory
TIDMREDX
RNS Number : 5701O
Redx Pharma plc
31 January 2019
REDX PHARMA PLC
("Redx" or "the Company")
Deinove return rights to Redx's Anti-infective Programme
Alderley Park, 31 January 2019 Redx (AIM: REDX), the drug
discovery and development company focused on cancer and fibrosis,
announces that Deinove has decided not to exercise their option for
Redx's Novel Bacterial Topoisomerase Inhibitor (NBTI) programme.
This decision follows a period of nine months of evaluation by
Deinove, during which Deinove had sole rights to develop the
programme.
All rights to the NBTI programme, including all new data
generated by Deinove, now revert to Redx, who are exploring options
for the programme with other parties with potential interest in
licensing the project.
Redx entered into an option and license agreement with Deinove
for the NBTI programme in March 2018 following a strategic decision
to close the Redx anti-infectives unit in 2017, and focus the
Company on developing new medicines in Oncology and Fibrosis. Last
week, the Company announced that the UK's Medicines and Healthcare
products Regulatory Agency (MHRA) has given formal approval to the
Company to re-commence the phase 1/2a trial for RXC004, an oral
porcupine inhibitor targeting the Wnt signalling pathway. Clinical
evaluation of RXC004 in patients with advanced solid tumours
remains on track to resume in H1 2019 following the approval of a
revised phase 1/2a clinical trial protocol and drug
formulation.
For further information, please contact:
Redx Pharma Plc T: +44 1625 469
920
Lisa Anson, Chief Executive Officer
Andrew Saunders, Chief Medical Officer
Cantor Fitzgerald Europe (Nominated Advisor & T: +44 20 7894
Joint Broker) 7000
Phil Davies
WG Partners LLP (Joint Broker) T: +44 20 3705
9330
Claes Spång/ Chris Lee/ David Wilson
FTI Consulting T: +44 20 3727
1000
Simon Conway/Stephanie Cuthbert
About Redx Pharma Plc
Redx is a UK based biotechnology company whose shares are traded
on AIM (AIM:REDX). Redx's vision is to become a leading biotech
focused on the development of novel precision medicines that have
the potential to transform treatment in oncology and fibrotic
diseases.
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END
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