Redx Pharma specialises in the discovery and development of small molecule therapeutics, with an emphasis on oncology and fibrotic disease. It aims to initially progress them through proof-of-concept studies, before evaluating options for further development and value creation. Existing earlier-stage collaboration partners include AstraZeneca and Jazz Pharmaceuticals.
Redx Pharma has an impressive portfolio of ROCK programmes, with a clear focus on serious and debilitating fibrotic diseases. The lead compound, RXC007, is a next-generation ROCK2 inhibitor in Phase IIa trials for IPF (idiopathic pulmonary fibrosis). Top-line results, expected in H124, should provide invaluable data on its clinical, and commercial, potential and guide future studies. RXC008, a highly novel GI-targeted ROCK inhibitor, is progressing towards IND/CTA submission by end-2023 for fibrostenotic Crohn’s disease. A second clinical asset, RXC004, a porcupine inhibitor for Wnt-ligand dependent solid tumours, is completing Phase IIa studies in combination with a CPI with the results from these important trials expected by end-2023. Cash of £34.6m (end-March 2023) provides a runway into Q1 2024, beyond RXC007 Phase II data. Our updated rNPV-based valuation is £363m, or 109p/share.
| Symbol | Primary exchanges |
| REDX | AIM London |