Redx positive about its prospects, raises £7million

The UK based Redx Pharma has conditionally raised about £7,187,500, as Cantor Fitzgerald Europe and WG Partners have placed 19,166,667 New Ordinary Shares on behalf of the company at a price of 37.5 pence per share.

Neil Murray, CEO of Redx Pharma sees this year as a pivotal in turning Redx to a clinical stage company. He said that the new funds the company is raising will support the ongoing progress of important assets including the company’s pipeline, and that’s a reason for staying positive about Redx’s prospects.

Among certain expectaitons, Murray says that Porcupine inhibitor, RXC004, should kick off first-in-human trials within the next few months.

“We are preparing our BTK inhibitor, RXC005, for first-in-human clinical trials by the end of the year.  This drug candidate has the potential to transform the treatment of patients with chronic lymphocytic leukaemia, the most common form of adult leukaemia.”