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Redx Pharma shares skyrocket on deal to sell inhibitor program

Wed, 07th Feb 2024 11:08

(Alliance News) - Redx Pharma PLC on Wednesday said it has struck a deal to sell Kirsten rat sarcoma virus inhibitor program to Dublin-based Jazz Pharmaceuticals PLC.

Redx Pharma shares soared 44% to 28.70 pence each in London on Wednesday morning.

The Macclesfield, England-based clinical-stage biotechnology company said it will receive USD10 million upfront, with a potential for up to USD870 million in development, regulatory and sales milestone payments in addition to royalties on future net sales.

Jazz Pharmaceuticals and Redx will collaborate to advance candidates through IND-enabling studies; Jazz Pharmaceuticals will be responsible for all clinical development, regulatory, manufacturing and commercialisation activities.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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RedX Pharma as it proposes discounted capital raising

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30 Nov 2016 10:13

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Redx Pharma identifies candidate for inhibitor programme

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Redx Pharma Selects Drug Candidate To Treat Leukaemia

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Sunday share tips: Dunelm Group, Green REIT, Redx Pharma

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Redx Pharma Loss Widens But Notes Oncology Lead Progress

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Redx Pharma Appoints David Lawrence Non-Executive Director

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