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Moulton Goodies Raises Stake In Redx Pharma To 42% From 18%

Fri, 24th Jan 2020 11:51

(Alliance News) - Redx Pharma PLC said Friday Moulton Goodies Ltd raised stake in the drug development company.

In a transaction on Wednesday, Moulton Goodies increased its interest in Redx Pharma to 42% from 18%.

At the end of December Redx Pharma had said it had been in discussions with Samuel Waksal, the founder of ImClone Systems Inc and Kadmon Pharmaceuticals Inc, about a possible cash takeover offer.

The company had said there was no "firm intention" to make an offer, and Waksal has until 1700 GMT on January 28 to make a firm offer.

Shares in Redx Pharma were trading 3.2% lower in London at 7.50 pence each on Friday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

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Moulton Goodies Raises Stake In Redx Pharma To 42% From 18%

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