Redx Pharma is pleased to announce its maiden results for the year ended 30 September 2015.
- Strong progress with drug discovery programs having achieved in vivo proof of concept in a further two programs and the progression of three drug candidates into formal pre-clinical development;
- Oncology pipeline
- development candidate selected in SMO program for skin cancer
- development candidate selected in BTK program for blood cancers and autoimmune diseases
- in vivo proof of concept secured in cFMS program for auto-immune diseases
- in vivo proof of concept established in Porcupine program for hard-to-treat cancers
- development candidate selected in Porcupine program
- continued expansion of novel lead series in MRSA program
- development candidate selected in MRSA program
- Launch of immunology research division in May 2015 - focused on developing new therapies for disorders of the immune system
- Cancer research collaboration with Horizon Discovery Group plc, ("Horizon"), the international life science group, focusing on Redx's existing pan-RAF inhibitor program, which treats colorectal cancer, in September 2015
- Group's expenditure remains in line with budgets:
- net cash at 30 September 2015: £9.4m (2014: £2.9m)
- net loss of £8.2m (2014: £3.4m)
- other operating income: £2.6m (2014: £6.2m)
- Outlook remains positive
Neil Murray, Chief Executive of Redx, said:
I am delighted with the strong progress Redx has made in this transformational year. Joining AIM has helped us expand our operations, including into immunology research and opens up further opportunities for the business.
In our existing research areas in oncology and anti-infectives, we achieved in vivo proof of concept in a further two programs and progressed three drug candidates into formal pre-clinical development. We look forward to building on this success in 2016 as we also look to secure further commercial partnerships and broaden Redx's capability and asset base.