Date: 2012-10-19
Type of information: Grant
Company: Redx Pharma (UK)
Investors: Regional Growth Fund (RGF) (UK)
Amount: £4.7 million (€5.7 million)
Funding type: grant
Planned used: These funds will be used to support the launch of a new £10.8 million research and development centre focused on anti-viral and anti-bacterial drugs. The funding will enable the establishment of a new subsidiary, Redx Anti-Infectives Ltd, which will create 119 high value science jobs, based in Liverpool.
Others: Redx Pharma has been awarded a £4.7 million grant from the UK Government\'s Regional Growth Fund (RGF) to support the launch of a new £10.8 million research and development centre focused on anti-viral and anti-bacterial drugs.
The funding will enable the establishment of a new subsidiary, Redx Anti-Infectives Ltd, which will create 119 high value science jobs, based in Liverpool. The posts will be within chemistry, biochemistry and analytical testing. A further 28 specialist jobs are expected to be created within the wider supply chain.
The RGF support will be mirrored by £6.1 million of new private investment brokered by Manchester-based Acceleris Corporate Finance and sourced from a combination of commercial partnering revenue and shareholder equity.
Redx Anti-Infectives will begin operations in April 2013. The funds, which are subject to a due diligence process, will support an initial two-year industrial research phase of chemistry, biochemistry and analytical testing. The new R&D venture will focus on developing drugs to combat resistance to antibiotics and new medicines to tackle viral infections. These include developing anti-infective drugs tackling hard to treat infections, including the growing threat of drug resistant superbugs like MRSA, as well as conditions such as influenza, Hepatitis C and HIV.
Therapeutic area: Infectious diseases
