Redx Pharma plc Deinove return rights to Redx Programme (5701O)

TIDMREDX

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] 
                                                920 
Lisa Anson, Chief Executive Officer 
Andrew Saunders, Chief Medical Officer 
 
Cantor Fitzgerald Europe (Nominated Advisor &  T: [phone] 
 Joint Broker)                                  7000 
Phil Davies 
 
WG Partners LLP (Joint Broker)                 T: [phone] 
                                                9330 
Claes Spång/ Chris Lee/ David Wilson 
 
FTI Consulting                                 T: [phone] 
                                                1000 
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.

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January 31, 2019 02:00 ET (07:00 GMT)