Date: 2015-05-14
Type of information: Establishment of a new subsidiary in the EU
Compound: Redx Immunology
Company: RedXPharma (UK) Redx Immunology (UK)
Therapeutic area: Autoimmune diseases - Immunological diseases - Cancer - Oncology
Type agreement: establishment of a new subsidiary in the EU
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Details: * On May 14, 2015, Redx announced the launch of its third subsidiary, 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\").
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