Redx agrees ‘multi-million’ pharmaceutical deal
LIVERPOOL-based early stage drug development company Redx Pharma has won its first major licensing deal, with pharmaceutical firm Dishman.
The deal will allow Dishman Pharmaceuticals & Chemicals, listed on the Mumbai stock exchange, to use process technology patented by Redx.
It will employ the Redx technology for the synthesis of statins, one of the world’s best selling classes of prescription drugs. Financial terms were not disclosed but Redx that the d did say that the deal will generate “multi-million dollar revenues” for both companies.
Dr Neil Murray, chief executive of Redx Pharma, said: “This collaboration will create substantial revenues from our intellectual property portfolio and is the first of many deals we look forward to announcing. We are delighted to work with Dishman and pleased to have reached this agreement.”
Christian Dowdeswell, commercial director of Dishman Group, said: “We are delighted to be able to offer our customers access to Redx Pharma’s technology and thus create opportunities for the pharmaceutical companies we serve.
“This deal fits very neatly into Dishman Group’s core principle of investment and innovation and ensures that we can continue to offer high value, high quality products to our customers into the future.”
Redx Pharma is developing a portfolio of new drug candidates across multiple therapeutic areas. Earlier this year the firm launched its first spin out business, Redx Oncology, and is planning a second, Redx Anti-Infectives.
