LONDON (Alliance News) - Redx Pharma PLC said Tuesday that it has identified a second drug development candidate, a potential new treatment for blood cancers and autoimmune diseases.
The candidate works by inhibiting an enzyme that plays a key role in the development of these illnesses, Bruton's tyrosine kinase.
Redx currently has 13 drug programmes in its pipeline, five of which have achieved pre-clinical proof of concept.
"We're delighted to be announcing the second drug candidate to make it through our development pipeline, particularly one which has the potential to play a role in tackling some challenging blood cancers like leukaemia and diseases of the autoimmune system including rheumatoid arthritis and lupus," said Chief Executive Officer Neil Murray in a statement.
Shares in Redx are trading up 1.6% at 89.90 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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