Redx Pharma plc Redx Pharma awarded US$1 million grant by CARB-X (0726B)
March 30 2017 - 11:03AM
UK Regulatory
TIDMREDX
RNS Number : 0726B
Redx Pharma plc
30 March 2017
30 March 2017
AIM: REDX
REDX PHARMA PLC
("REDX" or "the Company" or "the Group")
Redx Pharma awarded US$1 million grant by CARB-X
- Redx selected as one of 11 initial candidates after
competitive global selection process in recognition of innovative
science programs
- Collaborative grant in anti-infectives enables Redx to advance
its Gram-negative program with a prospective partner
Redx Pharma, the drug development company, is pleased to
announce that it has been awarded a US$1 million grant by CARB-X,
one of the world's largest public-private partnerships, launched in
July 2016 to accelerate global antibacterial innovation and
research. The 11 successful projects were selected through a
competitive process from 168 applications from around the world.
The awarded grants were based on the merits of each of the
company's research proposals, as evaluated by the CARB-X Advisory
Board and the CARB-X team.
Today's announcement by CARB-X showcases the first projects
selected for the Powered by CARB-X portfolio, spotlighting Redx as
a highly-respected partner of choice on a global stage. Redx will
receive US$1 million over 18 months, with an option for future
tiered milestone payments, to drive scientific progress against
globally challenging drug resistant Gram-negative bacteria. This
collaboration with CARB-X enables Redx to move its Gram-negative
program into the next stage of development with a prospective
partner.
Dr Neil Murray, Chief Executive Officer of Redx Pharma, said:
"We are delighted to be collaborating with CARB-X, a truly
innovative initiative that is targeting the development of new
life-saving antibacterials and diagnostics. Receiving this grant
today is testament to the great science that exists at Redx. This
grant cements a path forward for our recently announced strategy,
to secure external partners to ensure that our high quality
anti-infective science will continue whilst we sharpen our focus on
the clinical development of our oncology and immunology
programs."
ENDS
For further information, please contact:
Redx Pharma Plc
Neil Murray, Chief Executive Officer T: +44 1625
469 900
Karl Hård, Head of Investor Relations T: +44 7491
& 651 406
Corporate Communications
Cantor Fitzgerald Europe (Nomad & Broker) T: +44 20
7894 7000
Phil Davies/ Michael Reynolds
WG Partners LLP (Joint Broker) T: +44 20
3705 9330
Claes Spång / Chris Lee / David
Wilson
Consilium Strategic Communications
Amber Fennell/ Matthew Neal/ Melissa T: +44 20
Gardiner 3709 5700
About Redx Pharma Plc
Company website: www.redxpharma.com
Redx is focused on the discovery and development of proprietary,
small molecule therapeutics to address areas of high, unmet medical
need, principally in cancer, immunology and infection 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 broad portfolio of proprietary drug programs.
About CARB-X
Website: carb-x.org
CARB-X was launched by the U.S. Department of Health and Human
Services (HHS), Biomedical Advanced Research and Development
Authority (BARDA) and the National Institute of Allergy and
Infectious Diseases (NIAID). CARB-X is funded by BARDA and the
Wellcome Trust, a global charitable foundation based in London.
Wellcome announced today its funding share will amount to $US155.5
million dollars over five years. NIAID is providing support in the
form of preclinical services. CARB-X is a non-profit effort
headquartered at the Boston University School of Law. Other
partners include the Broad Institute of MIT and Harvard, the
Massachusetts Biotechnology Council (MassBio), the California Life
Sciences Institute (CLSI), and RTI International. CARB-X was
created is in response to the U.S. government's 2015 Combating
Antibiotic Resistant Bacteria (CARB) initiative and the U.K.
government's call in 2016 for a concerted global effort to tackle
antibiotic resistance.
CARB-X is investing US$24 million immediately and up to US$24
million in milestone-based additional payments over three years to
help 11 biotech companies and research teams in the U.S. and U.K.
accelerate the development of new life-saving antibacterials and
diagnostics aimed at treating infections caused by the world's
deadliest antibiotic-resistant bacteria. Together with private
funds from the companies, this could lead to an investment of more
than US$75 million in successful projects.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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