21 March 2017
Redx (AIM: REDX) announces its results for the year ended 30 September 2016:
The Board has received notifications from two directors, Dr Frank M. Armstrong, Chairman of the Board of Directors and Mr Peter McPartland, Non-Executive Director, have decided not to stand for re-election at the upcoming Annual General Meeting for shareholders. Dr Peter Jackson, Non-Executive Director, co-founder of Redx and Executive Chairman up to August 2014, will be stepping down from the Board on 31 March 2017.
Neil Murray, Chief Executive of Redx Pharma Plc, commented,
Redx has created a world-class capability in small molecule drug discovery in oncology and immunology. We have a strong research engine that continues to deliver an innovative pipeline, but we must now shift our focus towards developing our key portfolio assets, specifically our Porcupine and BTK programs for hard to treat diseases. To reflect this new focus, we are reorganizing our business, including plans to reduce headcount.
On behalf of the Board of Redx I would like to thank Dr Frank M. Armstrong, Dr Peter Jackson and Mr Peter McPartland for their immense contributions to the success of Redx, both as a private and as a public company. Dr Peter Jackson has worked tirelessly for Redx since he helped found the business. I would also like to extend my personal thanks to Frank, Pete and Peter for the support they have given me and for the highly professional way in which they have carried out their roles.
Dr Frank M. Armstrong, Chairman of Redx Pharma Plc, added,
I am pleased to have been a part of Redx, guiding the Company through the transition from private to public markets. Redx has made substantial progress with the portfolio since the IPO and I look forward to the Company’s continued progress as it makes this critical transition to clinical development and wish the Management, staff and shareholders every success for the future.
Redx Pharma will host a conference call today at 14:00 GMT / 10:00 EST to discuss its final results for the year ended 30 September 2016.
A presentation will be available on the Redx Pharma website 10 minutes before the start of the call at http://redxpharma.com/investors/reports-and-accounts.html.
To access the conference call, please dial one of the appropriate numbers below quoting the conference ID 86599055.
UK: +44 (0)1452 55 55 66
US: +1 (866) 966-9439
The call will be conducted in English and a replay will be available on the Company website for 30 days.