Redx gets $1m boost from global public private alliance
Cheshire-based drug development company Redx Pharma has received a $1m grant CARB-X, one of the world’s largest public-private partnerships, launched in July 2016 to accelerate global antibacterial innovation and research.
Some 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.
Redx, which only 10 days ago said it was 86 staff – 60% of its headcount, will receive the cash over 18 months, with an option for future tiered milestone payments, to drive scientific progress against globally challenging drug resistant Gram-negative bacteria.
The collaboration with CARB-X enables Redx to move its Gram-negative program into the next stage of development with a prospective partner.
Redx chief executive Dr Neil Murray 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.”
AIM-listed Redx moved from its Liverpool headquarters to Alderley Park nearly a year ago.