Redx and Deinove sign option and licence agreement

RNS Number : 5063I

Redx Pharma plc

22 March 2018

 

REDX PHARMA PLC and DEINOVE SA

("Redx" and "Deinove")

Redx Pharma signs option and licence agreement for its anti-infective programme with Deinove

Partnering Novel Bacterial Topoisomerase Inhibitor (NBTI) programme for resistant Gram negative bacteria

Alderley Park, UK and Grabels, France, March 22 2018 - Redx, (AIM: REDX) the drug discovery and development company focused on cancer and fibrosis, and Deinove, (Euronext Growth: ALDEI.PA) a company that discovers, develops and produces high-value compounds from rare bacteria, announce that they have entered into an option and license agreement for Redx's Novel Bacterial Topoisomerase Inhibitor (NBTI)  programme, which is primarily focused on treating multi-drug resistant Gram negative bacteria. 

Redx announced in March 2017 that it would concentrate on the development of its cancer and fibrosis products and would look to partner its anti-infective programmes. The NBTI anti-infective programme has promising potent compounds with broad spectrum activity, for use against multi-drug resistant strains of Gram negative bacteria. Resistant strains of these bacteria (such as Acinetobacter and Pseudomonas), were recently listed by the World Health Organisation¹ as being amongst the 12 most serious priority pathogens considered to pose the greatest threat to human health.

Under the terms of the agreement, Deinove has a nine-month option period to assess the NBTI programme for further development. Redx will receive an option fee and a payment on the exercise of the option - both of which are commensurate with an anti-infective programme at this stage of development. Further financial details have not been disclosed.

Deinove is a French biotech that discovers, develops and produces high-value compounds from rare bacteria, focused on healthcare, nutrition and cosmetics. The Company has a team of experts with a proven track record in antibiotics research and development. They have also built a world-class integrated and automated platform, sponsored by the French government, designed to accelerate drug discovery, optimization and development. Through the option and licence agreement, Deinove will begin confirmatory and profiling work with the compounds in this programme.

Iain Ross, Executive Chairman of Redx Pharma plc, commented, "We are very pleased to have partnered our NBTI program with Deinove who are committed to the development of anti-infectives and whose team has a proven track record of bringing products to market. With their experience in this area, we hope that they can successfully progress our NBTI programme towards the clinic. We had previously indicated our commitment to progressing anti-infectives research through a collaboration in the near term and are delighted to be making this announcement on schedule."

Emmanuel Petiot, Chief Executive Officer of Deinove, said, "We are enthusiastic about this option and license agreement with Redx. NBTI is a promising programme which has delivered compelling preclinical data and we look forward to continuing the research of the compounds in this programme and hopefully bringing it into the clinic. This series of synthetic molecules, already advanced and targeting life-threatening pathogens, will ideally complement our upstream portfolio of natural products. These programmes will allow Deinove to quickly and comprehensively tackle the problem of antibiotic resistance."

¹"WHO publishes list of bacteria for which new antibiotics are urgently needed", 27 February 2017

For further information, please contact:

Redx Pharma Plc	T: [phone]
Iain Ross, Executive Chairman
Cantor Fitzgerald Europe (Nominated Advisor & Broker)	T: [phone]
Phil Davies
WG Partners LLP (Joint Broker)	T: [phone]
Claes Spång/ Chris Lee/ David Wilson
FTI Consulting	T: [phone]
Simon Conway/Stephanie Cuthbert

About Redx Pharma Plc 

Redx is a UK biotechnology company whose shares are traded on AIM (AIM: REDX). Redx is focused on creating and developing first, or potentially best in class drugs, in specific areas of cancer and fibrosis that address significant unmet medical need. Redx has an in-house discovery team with proven world-class chemistry capabilities.

About Deinove SA

DEINOVE (Euronext Growth Paris: ALDEI) is a biotech company that discovers, develops and produces high added-value compounds from rare microorganisms for use in the fields of health, nutrition and cosmetic markets.

To do so, DEINOVE draws on two key assets:

• a unique library of 6,000 rare or unexploited bacterial strains;

• a genetic, metabolic and fermentation engineering platform capable of customizing these natural "micro-factories" to transform them into new industrial standards.

Based in Montpellier, DEINOVE employs approximately 55 employees and has nearly 130 international patents. The Company has been listed on Euronext Growth since April 2010.

www.deinove.com

 

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