THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
REDX PHARMA PLC
("Redx" or the "Company")
Directorate Change
Alderley Park, UK, 3 July 2023 Redx (AIM:REDX), the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, targeted therapeutics for the treatment of fibrotic disease and cancer, today announces that Dr. Thomas Burt, Non-Executive Director, has informed the Board of Directors of the Company ("the Board") of his intention to resign as a Director of the Company with effect from 1 September 2023. Dr. Burt is currently the representative of Sofinnova Crossover 1 SLP ("Sofinnova"), one of the Company's major shareholders.
Sofinnova has nominated Dr. Joe Anderson to be their new representative. It is therefore anticipated that Dr Anderson will, subject to due diligence and other appointment processes, join the Board following Dr. Burt's resignation becoming effective.
Dr. Jane Griffiths, Chair of the Board, commented: "On behalf of the Board and the Company, I would like to thank Tom for his insightful contribution over the last three years as we have matured into a clinical stage company. We look forward to continuing to work with Sofinnova as one of our major shareholders."
The person responsible for arranging for the release of this announcement on behalf of the Company is Nischal Hindia, Interim Company Secretary.
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For further information, please contact: | | |
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| Redx Pharma Plc UK Headquarters Caitlin Pearson, Head of Communications
Lisa Anson, Chief Executive Officer | T: +44 (0)1625 469 918 | |||
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US Office Peter Collum, Chief Financial Officer | | |||
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| SPARK Advisory Partners (Nominated Adviser) | T: +44 (0)203 368 3550 | |||
| Matt Davis/ Adam Dawes | | |||
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| WG Partners LLP (Joint Broker) | T: +44 (0)203 705 9330 | |||
| Claes Spång/ Satheesh Nadarajah/ David Wilson | | |||
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| Panmure Gordon (UK) Limited (Joint Broker) | T: +44 (0)207 886 2500 | |||
| Rupert Dearden/ Freddy Crossley/ Emma Earl | | |||
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| FTI Consulting | T: +44 (0)203 727 1000 | |||
| Simon Conway/ Ciara Martin | | |||
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About Redx Pharma Plc
Redx Pharma (AIM: REDX) is a clinical-stage biotechnology company focused on the discovery and development of novel, small molecule, targeted therapeutics for the treatment of fibrotic disease, cancer and the emerging area of cancer-associated fibrosis, aiming initially to progress them to clinical proof of concept before evaluating options for further development and potential value creation. The Company's lead fibrosis product candidate, the selective ROCK2 inhibitor, zelasudil (RXC007), is in development for interstitial lung disease and commenced a Phase 2a trial for idiopathic pulmonary fibrosis (IPF) in October 2022, with topline data expected in Q1 2024. Redx's lead oncology product candidate, the Porcupine inhibitor RXC004, being developed as a targeted treatment for Wnt-ligand dependent cancers, is expected to report combination with anti-PD-1 Phase 2 data during 2023. Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is progressing towards a CTA application at the end of 2023.
The Company has a strong track record of discovering new drug candidates through its core strengths in medicinal chemistry and translational science, enabling the Company to discover and develop differentiated therapeutics against biologically or clinically validated targets. The Company's accomplishments are evidenced not only by its two wholly-owned clinical-stage product candidates and rapidly expanding pipeline, but also by its strategic transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a non-covalent (reversible) BTK inhibitor now approved by the US FDA for adult patients with mantle cell lymphoma previously treated with a covalent BTK inhibitor, and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic diseases including IPF, which AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals, which includes JZP815, a pan-RAF inhibitor developed by Redx which Jazz is now progressing through Phase 1 clinical studies, and an early stage oncology research collaboration.
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