- Collaboration to progress Redx Pharma plc’s novel pan-RAF inhibitor program towards out-licensing
- Horizon leveraging its proprietary gene editing, cell line and drug discovery technology platforms and know how
- Future pharmaceutical partnering deal expected to deliver a material return to Horizon on its investment from any upfront payment, a share of future milestones and a share of future product royalties
Under the terms of the agreement, Horizon and Redx will bear costs proportionate to respective research activities. The successful partnering of a program asset with a pharmaceutical company is expected to deliver a material return on Horizon’s investment from any upfront payment, a share of future milestones and a share of future product royalties.
Dr. Darrin M. Disley, Chief Executive Officer of Horizon Discovery Group, commented:
“Horizon’s expertise throughout the drug discovery and development continuum, from genomic sequence to patient treatment, enables pharmaceutical and biotech companies to address the challenges and hurdles that could prevent them from realising the potential of their promising drug candidates. This partnership demonstrates how Horizon is able to strike innovative deals in which it deploys its proprietary technology platforms, know-how and internal resources to leverage significant upside potential for its shareholders.
“We are delighted to be able to support Redx as it moves towards securing partnerships for these novel assets and look forward to similar collaborations with other innovative drug development companies.” Neil Murray, Chief Executive of Redx Pharma plc, commented:
“Our pan-RAF inhibitor program is dealing with novel biology and is at a very interesting point. Our partnership with Horizon will enable us to detail at molecular level the effects of our pan-RAF inhibitors and help to progress this very promising program as we seek to secure a license partner for this asset.”
For further information from Horizon Discovery Group plc, please contact:
Horizon Discovery Group plc
Dr. Darrin Disley CEO / Richard Vellacott CFO
Tel: +44 (0) 1223 655580
Zyme Communications (Trade and Regional Media)Katie Odgaard
Tel: +44 (0)7787 502 947
Email: katie.odgaard@zymecommunications.com
Consilium Strategic Communications (Financial Media and Investor Relations)Amber Fennell / Jessica Hodgson / Matthew Neal / Laura Thornton
Tel: +44 (0) 20 3709 5701
Email: horizon@consilium-comms.com
Panmure Gordon & Co. (NOMAD)
Corporate Finance: Freddy Crossley / Fabien Holler / Duncan Monteith
Broking: Tom Salvesen
Tel: +44 20 7886 2500
About Redx Pharma plc Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, infection and immunology, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a portfolio of 13 proprietary (patent-protected) drug programs. Five programs have now achieved pre-clinical proof of concept, with relevance for respective therapies to treat MRSA, bone tumours, skin, brain, breast, pancreatic and blood cancers.