Redx Pharma: All that Jazz: $3m milestone boosts cash and confidence
The initiation of IND-enabling studies for Jazz Pharmaceutical’s pan-RAF inhibitor JZP815 has triggered a $3m milestone payment to Redx Pharma. This milestone provides external confirmation that this novel programme - one of Redx’s three partnership deals – continues to advance towards the clinic with the potential of earning future milestones, further solidifying Redx’s financial resources and supporting increased R&D investment in key assets through to end-2022. This cash runway covers several important value inflection points, including Phase II data for RXC004 its lead in-house oncology programme, and the start of Phase II trials for RXC007 in fibrosis. Ahead of further clinical updates, our rNPV-based valuation is £350.7m, equivalent to 128p/share (86p fully diluted).Redx Pharma is engaged in drug discovery, pre-clinical development and licensing. The principal activities of the business are the discovery and development of proprietary, small molecule drugs to address areas of high, unmet medical need. Co. is developing a porcupine inhibitor drug candidate, RXC004, as a cancer treatment using in vivo models of pancreatic and gastric cancer. ROCK1/2 inhibitors (known as systemic pan-Rock inhibitors) are known to induce hypotension. Co.'s ROCK inhibitor is designed to only work at the site of action in the gastrointestinal tract and degrades quickly, once absorbed, through enzyme-mediated metabolism in the blood, deeming it a soft inhibitor.
We are experienced healthcare and life sciences analysts providing the highest quality service to companies in these sectors and to investors. We have expertise in the fields of the biotech, medtech , specialty pharma and consumer health sectors.
The old-fashioned values of the City enabled London to become a global financial centre, and we pride ourselves for our integrity and professionalism, where our word is our bond. This applies to our research, and all interactions with companies, the buyside and other partners.
We also firmly believe that by putting our clients first, we create long term value for all stakeholders.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.