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1 Jun 2021 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR")
REDX PHARMA PLC
("Redx" or the "Company")
Directorate Change
Alderley Park, 1 June 2021 Redx Pharma (AIM: REDX), the drug discovery and development company focused on cancer and fibrosis, today announces that Iain Ross is stepping down from his role as Director and non-executive Chairman of the Company, with immediate effect in order to pursue other business opportunities.
The Board has initiated a formal search for a new Chair and a further announcement regarding the details and timings of a successor will be made in due course.
The Board also confirms that they have appointed Peter Presland, currently an Independent non-executive Director of the Company and Chairman of the Audit Committee, as interim Chairman with immediate effect.
Lisa Anson, Chief Executive Officer and a Director of Redx Pharma Plc said; "Iain has been the lynchpin in the turnaround of Redx and we are very grateful for his innumerable contributions as Chairman over the last four years. It is as a direct result of his strong oversight, counsel and expertise that Redx is now in a strong position, with supportive specialist life science investors for the next phase of the Company's evolution. Personally, I would like to recognise his contribution and thank him for all that he has done, and on behalf of the Board wish him every success in his future endeavours."
Iain Ross, Non-Executive Chairman of Redx Pharma Plc commented; "It has been a privilege and pleasure to have chaired the Redx Board through the challenges of the last four years and I leave the Company well financed, with an exciting product pipeline; a strong management team and a high-quality shareholder base. I believe my job is done and I am planning to take on a new role within the sector. I wish the Company well and will remain a supportive shareholder."
For the purposes of MAR, the person responsible for arranging for the release of this announcement on behalf of Redx is Andrew Booth, Company Secretary.
For further information, please contact: |
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Redx Pharma Plc | T: +44 1625 469 918 |
Lisa Anson, Chief Executive Officer |
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SPARK Advisory Partners (Nominated Adviser) | T: +44 203 368 3550 |
Matt Davis/Adam Dawes |
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WG Partners LLP (Joint Broker) | T: +44 20 3705 9330 |
Claes Spång/Nigel Birks/David Wilson |
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Panmure Gordon (UK) Limited (Joint Broker) | T: +44 20 7886 2500 |
Rupert Dearden/Freddy Crossley/Emma Earl
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FTI Consulting | T: +44 20 3727 1000 |
Simon Conway/Ciara Martin |
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About Redx Pharma Plc
Redx Pharma (AIM:REDX) is focused on the discovery and development of novel targeted medicines for the treatment of cancer and fibrotic disease, aiming to progress them to clinical proof of concept. Redx's lead oncology asset, RXC004, is currently in a Phase 1 study in patients with advanced malignancies with top line monotherapy data expected in mid-2021 and the Company's selective ROCK2 inhibitor, RXC007, is expected to enter a Phase 1 clinical study in H1 2021.
The Company's core capability of converting medicinal chemistry insights into differentiated and commercially attractive small molecule drug candidates against clinically validated targets has been recognised by others. Over the last three years the company has completed four major preclinical stage deals with AstraZeneca, Jazz Pharmaceuticals and Loxo Oncology (now Eli Lilly).
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