23 Jun 2017 14:38
23 June 2017
AIM: REDX
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
REDX PHARMA PLC (in administration)
("Redx" or "the Company")
Redx announces MHRA approval of its Clinical Trial Application for Porcupine Inhibitor RXC004
Redx (AIM: REDX), the drug discovery and development company focused on cancer and immunology, announces that it has received approval from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) and the Ethics Review Committee for its Clinical Trial Application (CTA) for the Porcupine inhibitor RXC004. The approval provides permission for Redx to initiate a Phase IB/ Phase IIA study of RXC004 in patients suffering from gastric, biliary and pancreatic cancer.
RXC004 is an oral, small molecule Porcupine inhibitor in development as a monotherapy for difficult to treat cancers. In addition, the Company would look to explore the potential of RXC004 in combination with a PD-1 checkpoint inhibitor.
Iain Ross, non-executive Chairman, commented, "Receiving regulatory approval to advance our first program into clinic is a major step forward in Redx's development. We believe that RXC004 has great potential to treat some very challenging cancers that currently have very poor prognosis."
For further information, please contact:
Redx Pharma Plc (in administration)
Contact for the Joint Administrators:
James Rossiter (Morgan Rossiter) + 44 203 195 3240
Cantor Fitzgerald Europe (Nomad & Broker) +44 207 894 7000
Phil Davies/ Michael Reynolds
WG Partners (Joint Broker) +44 203 705 9317
Claes Spång/ Chris Lee/ David Wilson
About RXC004
Redx's Porcupine inhibitor RXC004 exhibits potent and selective inhibition of the Wnt pathway in in vitro and in vivo models of Wnt dependant cancer. Preliminary results indicate that RXC004 may also enhance the efficacy of checkpoint inhibitors, such as anti-PD-1 antibodies.
About Redx Pharma Plc (in administration)
Company website: Redxpharma.com
Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, immunology and infection, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a broad portfolio of proprietary drug programs.
Jason Baker and Miles Needham have been appointed as joint administrators of Redx Pharma plc (in administration). The Company's affairs, business and property are being managed by the joint administrators.