Kadmon acquisition has read across for RXC007
Lighthouse | 8 September 2021
Trinity Delta view: he importance of the ROCK pathways has been known for some time, but the chemistry is complex and historically identifying safe and effective selective inhibitors has proved challenging. Redx Phama has a proven medicinal chemistry expertise and has generated what, in our view, is a possible “best-in-class” small molecule. RXC007 is one of two in-house assets (the other is RXC004, a porcupine inhibitor in Phase II trials) and two partnered programmes (with AstraZeneca and Jazz Pharmaceuticals). Recent news flow has highlighted the continuing progress seen across both Redx Pharma’s and its partnered programmes. A Virtual R&D Day on October 11 should provide additional insights on the status and promise of these assets. Our rNPV model, using conservative assumptions, generates a £350.7m valuation, equivalent to 128p/share (86p fully diluted).
8 September 2021
|Primary exchange||AIM London|
Redx Pharma specialises in the discovery and development of small molecule therapeutics, with an emphasis on oncology and fibrotic diseases. It aims to initially progress them through proof-of-concept studies, before evaluating options for further development and potential value creation.
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