Redx Pharma is pleased to announce the launch of its third subsidiary, Redx Immunology Limited ("Redx Immunology"), which will focus on developing new therapies for disorders of the immune system.
It is intended that Redx Immunology will deliver up to eight new drug development candidates over the near to medium term for subsequent progression into clinical trials. The launch of Redx Immunology is in line with the Group's stated strategy to develop a third therapeutic area to generate additional pipeline assets for further partnering and licencing deals. Its creation also complements Redx's current cancer-related drug programs which encompass immuno-oncology.
Redx Immunology's approach to drug discovery and development will be consistent with the Company's existing approach in its cancer and anti-infectives subsidiaries. It will focus on commercially relevant targets and seek to improve the characteristics of existing drug classes to create highly differentiated best-in-class new drugs. As with its other subsidiaries, Redx will seek partnership and licence deals at an early stage in drug development programs.
Redx Immunology will operate at Redx's laboratories at Alderley Park, Cheshire and is being launched using the proceeds from the Company's recent IPO together with the matched funding from the Group's £4.2 million grant award from the UK Government's Regional Growth Fund ("RGF").
Dr Neil Murray, chief executive of Redx Pharma, commented:
Diseases involving the immune system represent some of the most defining public health challenges of the developed world. Our new R&D centre for immunology will build on the expertise that we are bringing to bear in the key area of tumour immunology, where we are looking to switch on the body's immune system to attack cancer cells. Our new work in immunology will be focused around creating therapeutics that seek to turn off the immune system and tackle conditions such as inflammation and auto-immune diseases.
We believe that Redx's approach and methodology has the potential to make a significant contribution to the industry's R&D pipeline in the immunology area and will be attractive to large and emerging mid-size pharmaceutical companies as they seek to collaborate with companies such as Redx to develop new therapies."