Redx Pharma specialises in the discovery and early clinical development of small molecule therapeutics, with an emphasis on oncology and fibrotic disease. The two lead compounds will be progressed through proof-of-concept studies and then partnered for further development. Existing earlier-stage collaboration partners include AstraZeneca and Jazz Pharmaceuticals.
The c £25.6m (gross) investment via a placement and open offer has extended Redx Pharma’s cash runway to end-2022, ensuring ample funding to maintain strategic momentum. New monies allow Redx to capitalise on the high-quality opportunities presented by its attractive and well-balanced pipeline and its highly productive discovery platform. The clinical portfolio is focussed on genetically defined cancers and fibrotic diseases and consists of either “first in class” or “best in class” compounds which will be developed in-house to key value-inflection points. New funds will advance the two lead assets (porcupine inhibitor RXC004 in oncology; ROCK2 inhibitor RXC007 in fibrosis) into Phase II proof-of-concept trials, progress earlier stage assets, and expand discovery activities. Our updated valuation is £317.5m, equivalent to 116p/share (81p fully diluted).
| Symbol | Primary exchanges |
| REDX | AIM London |