Redx Pharma has "a lot to be excited about" after successful fundraise
London, UK
|
October 18, 2023 12:15 PM Eastern Daylight Time
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."
Contact Details
Proactive UK Ltd
+44 20 7989 0813
