Redx Oncology opens for business
A NEW cancer research business, backed with nearly £6m from the Regional Growth Fund, opens its doors for the first time today.
Redx Oncology, a subsidiary of Liverpool-based Redx Pharma, has recruited 19 people for its launch, and this figure will grow to 120 in the short term.
The cancer business is focusing on a five-year programme based around Redx Pharma’s existing pipeline of research cancer drugs. These cover a wide variety of cancer types, and are designed to deliver a flow of experimental drugs for progression into human clinical trials.
Managing director Derek Lindsay said: “Liverpool has a highly respected reputation in cancer care. The Liverpool Cancer Research UK Centre along with the University of Liverpool and the Royal Liverpool Hospital provide a rich environment for developing new remedies against cancer.
“We believe that our new Oncology R&D centre will provide an important new resource in the challenge of improving the patient experiences and outcomes with this disease.”
Redx Oncology is temporarily operating at from laboratories in the University of Liverpool’s Duncan Building, but will eventually become the anchor tenant of a new Liverpool BioInnovation Centre.
It was the only bio-medical company to win backing from Regional Growth Fund, which awarded it £5.9m last year.
This will have 70,000 sq ft of lab space and was granted planning permission last month.
RedX Pharma chief executive Dr Neil Murray, descrives the business as a “a discovery engine” for big pharmaceutical companies.
As well as its cancer portfolio – which it now has the cash to explore -Redx Pharma has a pipeline of new compounds in several other therapeutic area including cardiovascular medicine, influenza and antibiotics.
Redx Pharma expects to do its first commercial deals this year. Dr Murray says Redx Oncology expects to achieve the same in the second year of operations.
