LONDON (Alliance News) - Life sciences research tools and services provider Horizon Discovery Group PLC and drug discovery and development firm Redx Pharma PLC on Thursday said they have signed an agreement to partner on a cancer research project.
The two AIM-listed companies will partner on Redx's pan-RAF inhibitor programme, which is focused on treatment for colorectal cancer.
Under the agreement, Horizon will use its proprietary gene editing, cell line and drug discovery technology platforms to help explore how Redx's pan-RAF inhibitors can be used.
The pair will bear the costs of the project proportionately, they said, without providing any specific financial details.
"Our pan-RAF inhibitor program is dealing with novel biology and is at a very interesting point. Our partnership with Horizon will enable us to detail at molecular level the effects of our pan-RAF inhibitors and help to progress this very promising program as we seek to secure a license partner for this asset," said Redx Chief Executive Neil Murray.
"This partnership demonstrates how Horizon is able to strike innovative deals in which it deploys its proprietary technology platforms, know-how and internal resources to leverage significant upside potential for its shareholders," said Horizon Chief Executive Darrin Disley.
Redx shares were up 4.9% to 113.8499 pence on Thursday morning, while Horizon shares were up 5.6% to 154.70 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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