As­traZeneca throws Redx a life­line — in ex­change for a pre­clin­i­cal fi­bro­sis drug — with a promise of $17M in quick cash plus mile­stones

It’s not of­ten that a deal with $17 mil­lion in near-term cash in­spires a stock mar­ket ral­ly. But for trou­bled UK biotech Redx, that kind of pact rep­re­sents a new lease on life.

In and out of hot wa­ter with its cred­i­tors, Redx has now out-li­censed a pre­clin­i­cal por­cu­pine in­hibitor, RXC006, to Mene Pan­ga­los at As­traZeneca. And the deal sparked a big ral­ly for small-cap Redx, with its shares $REDX rock­et­ing up 238%.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.