(Alliance News) - Redx Pharma PLC on Wednesday said the US Food & Drug Administration has cleared the investigational new drug application for JZP815, a pan-RAF inhibitor for the treatment of solid tumours and haematological malignancies.
The clearance paves the way for its partner, Jazz Pharmaceuticals, to begin a clinical trial for the treatment.
It has also triggered a milestone payment of USD5 million from Jazz to Redx. This is is on top of the USD6.5 million already received under the collaboration agreement between the companies.
Jazz agreed to acquire Redx's pan-RAF inhibitor programme in July 2019 but Redx remains entitled to development, regulatory and commercial milestone payments related to the programme.
Redx also receives incremental tiered royalties in mid-single digit percentages based on any future net sales.
Chief Executive Lisa Anson said: "I am delighted that the IND application for the pan-RAF inhibitor, JZP815, has been accepted. When Jazz commence the clinical programme this will become the fifth drug candidate discovered by Redx to enter the clinic, further validating our world-class research and development capabilities."
Shares in Redx Pharma were up 4.7% at 63.66 pence on Wednesday morning in London but reached a high of 67.00p earlier in the day.
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
