Deinove return rights to Redx Programme

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: [phone]
Lisa Anson, Chief Executive Officer
Andrew Saunders, Chief Medical Officer
Cantor Fitzgerald Europe (Nominated Advisor & Joint 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 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.

If you would like to sign up to regular alerts from Redx Pharma, please follow this link https://www.redxpharma.com/investors/email-alerts/

 

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