Trinity Delta Lighthouse: Redx Pharma
Trinity Delta view: This Virtual R&D event provided third-party validation of the quality of Redx Pharma’s medicinal chemistry expertise in solving druggability issues. Both RXC004 and RXC007 target proven biological pathways that have been difficult to safely address. Recent RXC004 Phase I monotherapy results and these initial RXC007 data demonstrate promising safety profiles and attractive dosing profiles. News flow over the next 12-18 months should provide greater visibility on the clinical potential for both programmes. Our rNPV model, based on conservative assumptions, generates a £350.7m valuation (or 128p/share).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.
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