REDX PHARMA PLC
("Redx" or the "Company")
Statement re Press Report
Alderley Park, UK, 14 February 2024 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 notes the article published on the website of The Times on 13 February 2024 stating that the Company is "eyeing" a US listing.
Redx wishes to clarify that it is not currently in any process relating to a listing in the US, nor any other jurisdiction.
As previously stated, the Board continues to consider all financing and other strategic options to extend the cash runway in the best interests of all shareholders.
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For further information, please contact: | | |
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| Redx Pharma Plc UK Headquarters Caitlin Pearson, Head of Communications | T: +44 (0)1625 469 918 |
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| SPARK Advisory Partners (Nominated Adviser) | T: +44 (0)203 368 3550 |
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| Matt Davis/ Adam Dawes | |
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| WG Partners LLP (Joint Broker) | T: +44 (0)203 705 9330 |
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| Claes Spång/ Satheesh Nadarajah/ David Wilson | |
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| Panmure Gordon (UK) Limited (Joint Broker) | T: +44 (0)207 886 2500 |
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| Rupert Dearden/ Freddy Crossley/ Emma Earl | |
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| FTI Consulting | T: +44 (0)203 727 1000 |
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| 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. Redx aims to progress its programmes 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 is undergoing a Phase 2a trial for idiopathic pulmonary fibrosis (IPF) with topline data expected in H1 2024. The Company's second fibrosis candidate, RXC008, a GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is progressing towards the clinic with a Clinical Trial Application (CTA) submitted during Q4 2023. 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 anti-PD-1 combination Phase 2 data during the first half of 2024, following which Redx will seek a partner for ongoing development.
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 wholly-owned clinical-stage product candidates and discovery pipeline, but also by its strategic transactions, which includes the sale of pirtobrutinib (RXC005, LOXO-305), the only non-covalent or reversible BTK inhibitor now approved by the US FDA, and transactions with both AstraZeneca and Jazz Pharmaceuticals.
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