Redx Pharma has "a lot to be excited about" after successful fundraise
October 18, 2023 at 12:17 pm EDT
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Redx Pharma PLC (AIM:REDX) Chief Financial Officer Peter Collum speaks to Thomas Warner from Proactive after the clinical-stage biotechnology company announced a £14.1mln fundraise from existing investors that will take its working capital to more than £28mln.
Collum explains that the additional funding will extend the company's cash runway from early 2024 into the third quarter, enabling them to achieve critical milestones in their portfolio development plan. He says that one of the key highlights is the Phase 2a data release for their lead asset, the selective ROCK2 inhibitor known as Zelasudil, with a focus on treating Idiopathic Pulmonary Fibrosis (IPF). IPF is a severe lung condition with limited treatment options, making this development crucial for patients.
Additionally, Redx Pharma is initiating a Phase 1 trial for their oral pan-ROCK inhibitor, RXC008, targeting Fibrostenosis in Crohn's disease patients. This innovative approach offers hope to patients facing invasive surgery as the only current treatment option.
Collum emphasises Redx Pharma's strong track record of developing high-quality small molecule compounds, attracting collaborations with prominent pharmaceutical companies. With a pipeline of promising assets, he says that the company "has a lot going on and a lot to be excited about for the future."
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Proactive UK Ltd
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uk@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Redx Pharma Plc is a United Kingdom-based clinical-stage biotechnology company. The Company is focused on the discovery and development of novel, small molecule, targeted medicines for the treatment of fibrotic disease, cancer and the emerging area of cancer-associated fibrosis. The Companyâs pipeline includes zelasudil (RXC007), zamaporvint (RXC004) and RXC008. Its lead asset, zelasudil (RXC007), a selective ROCK2 inhibitor, with potential in multiple interstitial lung diseases and cancer-associated fibrosis, is in a Phase 2 clinical program with an initial indication in idiopathic pulmonary fibrosis. RXC008 is a potential GI-targeted ROCK inhibitor for the treatment of fibrostenotic Crohnâs disease. Its oncology pipeline is led by zamaporvint (RXC004), a Porcupine inhibitor targeting Wnt-ligand dependent tumours, in combination with anti-PD-1 therapy, and its drug discovery engine is advancing a pipeline of research programs and collaborations in both fibrotic diseases and oncology.