Liverpool-based drug discovery and development company Redx Pharma is to open a new research and development facility at AstraZeneca's Alderley Park site in Cheshire.
The new venture, Redx Anti-Infectives Ltd, will create 119 high value science jobs at the site, establishing a new team to develop drugs combatting resistance to antibiotics and new medicines to tackle viral infections. A particular focus will be hard to treat infections. These include the growing threat of drug resistant superbugs like MRSA, as well as conditions such as influenza, Hepatitis C and HIV. A further 28 specialist jobs are expected to be created within the wider supply chain.
Redx Anti-Infectives began operations at the end of April 2013 supported by a grant of £4.7 million from the UK Government's Regional Growth Fund (RGF). The company has recently completed a significant funding round, brokered by Manchester-based Acceleris Corporate Finance. A combination of commercial partnering revenue and shareholder equity is also funding Redx Anti-Infectives.
Dr Neil Murray, chief executive of Redx Pharma, commented: The World Health Organisation has identified drug resistance, particularly in the area of antibiotics, as one of the most pressing human health concerns globally. The fresh thinking and original approach of Redx Anti-Infectives will help create effective solutions to these critical problems. Redx is a discovery engine for global pharma and it is innovative and agile companies like ours that can help the industry adapt to a new model of research and development where there is more willingness to outsource some of the challenges involved in creating new proprietary medicines. At Redx, our methods have already uncovered commercial potential that might otherwise have been missed and our approach helps partners to bring new medicines to market faster.
Whilst our headquarters remain in Liverpool and we have ambitious plans to grow our business and create high value science posts in the city, at the same time we recognise that the facilities at Alderley Park are world class and enable us to move quickly in expanding this key new part of our business. We will be working closely with our colleagues at AstraZeneca, who made a compelling commercial case to attract us to Alderley Park. We look forward to a long and fruitful collaboration.
Clive Morris, AstraZeneca Vice President, Research & Development said: We are delighted to welcome Redx to Alderley Park, which is an important first step in our ambition to secure a sustainable future for the site. We will continue to seek further opportunities to attract other innovation-driven companies and, wherever possible, build on the existing bioscience expertise and world class facilities available at Alderley Park.
Redx has a busy recruitment programme and hopes to take advantage of the high quality workforce in the area. Alderley Park has a long and rich heritage of important advancements in medical treatments developed at the site.
Redx develops therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients include fewer side effects, greater efficacy and ease of use for people. The company achieves revenues by entering into licensing agreements with mid-sized and large pharmaceutical partners who undertake further clinical studies with promising new drug compounds.
Redx Anti-Infectives is the third business which has been created by the Redx Pharma group, which was founded in 2010. It follows Redx Oncology, which is also based in Liverpool, and Redx Crop Protection, which operates from Frome, Somerset.
Redx has previously won RGF backing for the launch of its first spin out, Redx Oncology Ltd, a cancer drug research and development subsidiary which currently employs 111 people in Liverpool. The UK Government Business Secretary Vince Cable visited the Redx Oncology laboratories in 2012 to meet staff and see the progress for himself.
Liverpool, UK and Montreal, Canada - The early stage drug development company Redx Pharma has today reached an agreement with Canadian-based Pharmascience Inc. to licence its promising anti-cancer program which helps the immune system to recognise and fight cancer.
The program is focused on small molecules that inhibit a receptor in the body called CSF-1R or cFMS which plays an important role in the immune response to cancer.
The receptor influences the way that the body's immune system interacts with cancer cells in tumours. It also affects how quickly cancer spreads to other parts of the body, particularly to bones.
The license agreement allows Liverpool-based Redx to pursue research and development and commercialization of the Pharmascience program in oncology. The program is currently at the lead optimization stage.
Pharmascience's novel cFMS inhibitors may help prevent the innate immune system from "tolerating" cancer by keeping macrophages, an important type of immune cell, from converting to their pro-inflammatory, but tumour-tolerant state. By inhibiting this key element of cancer's ability to hide from the immune system, these compounds may help the body's immune system to better recognize and kill cancers.
The compounds may also reduce the ability of metastatic cancer cells from being deposited in the bones of cancer patients. Bone metastases are a serious and painful complication of several major cancers including breast and prostate cancer.
Helping the body's own immune system better recognize and fight cancer is an approach that is attracting significant industry attention following recent validation of this approach by successful therapeutics such as BMS's Yervoy™.
Dr Neil Murray, chief executive of Redx Pharma, said: We're delighted to have reached this agreement with Pharmascience. Helping the immune system to effectively deal with and target cancer cells is an extremely exciting emerging area of science and the cFMS oncology program we have licensed has demonstrated the ability to inhibit tumour growth in animal models. By in-licensing this program we are able to both enter this important emerging area of cancer research and advance our overall stage of development as a company.
Dr. Mathieu Boudreau, Director of Business Development and Strategic Planning of Pharmascience, commented: Our discovery research team has identified very promising cFMS inhibitor leads and we strongly believe the Redx research team is well positioned to continue the work we have initiated on this project, while we focus on our BTK inhibitor program and other emerging research programs and progress AEG40826, our IAP inhibitor, into Phase 1b/2 studies. We strongly believe that continued success in our industry will arise through such collaborations and shared efforts.
Financial terms were not disclosed.
The call from the UK's Chief Medical Officer for the threat of growing antibiotic resistance to be added to the National Risk Register of Civil Emergencies serves as an electrifying wake-up call to anyone unaware of the possible looming health crisis facing the UK.
Dame Sally Davies' apocalyptic warning points to the possibility of a future where a simple chest infection could mean a death sentence. She ranks the threat of antibiotic resistance alongside that of international terrorism and warns that we could be close to reaching a point where everyday infections will become untreatable.
Her fears mirror those of the World Health Organisation (WHO) and add to well-founded fears that we could be heading towards a global health crisis of devastating proportions.
Britain has traditionally been a leader in the development of antibiotic treatment - most notably, the development of penicillin. But over the last couple of decades, the lack of commercial viability in antibiotics coupled with significant research challenges, mean that many of the big pharma companies have withdrawn from this area.
One of the key challenges facing companies working in this area is the very nature of the bacteria which antibiotics target. These bugs are rapidly evolving organisms, which adapt incredibly quickly in order to survive - making them very hard to tackle. Critically, once a bug develops resistance to one sort of drug, it means that it rapidly becomes immune to all drugs within that class since they all act by a common mechanism. This creates the necessity for the creation of not just one more drug, but entirely new classes of drugs to tackle these "superbugs" and their multi-faceted resistance ability, adding significantly to the research and development needed to create an effective solution.
The conventional pharmaceutical R&D model has failed to ensure a steady pipeline of new antibiotics. As many (although not all) large pharma companies have shied away from the field of antibiotic development, the gauntlet in this challenging area has been picked up by emerging pharma companies who are prepared to take on the risks of tackling this critical research.
Redx is a good example of the role these organisations can play in tackling this issue. Later this year, we will open a new £10.8 million research and development centre focused on anti-viral and anti-bacterial drugs. One of our key focus areas will be developing drugs to combat resistance to antibiotics. Importantly, this work is supported by the Government through a grant from the Regional Growth Fund of £4.7 million.
However, it is not enough to rely on emerging companies to solve this problem. The Chief Medical Officer has called for collaboration between healthcare providers and industry in order to address this challenge. Redx is already collaborating with our colleagues in the city and at Royal Liverpool Hospital matching our expertise in drug development with their clinical knowledge. But, big pharma are the only people with the funds and capacity to bring new drugs to market and they need to be collaborating in this area earlier than they currently do. Without such broadly-based collaborations, our chances of overcoming this critical problem are significantly lower.
As with any war, allies working together are much more likely to prevail.
Staff at a Liverpool cancer drug research centre have donated more than £1,000 to a local charity, after raising the money through their Christmas raffle.
Members of the team at Redx Oncology handed over a cheque for £1,020 to the Liverpool Cancer Research UK Centre at a special event on Friday, January 11th.
Dr Jason Parsons, Dr Carlos Rubbi, Prof John Neoptolemos, Dr Derek Lindsay, Amy Wilkinson & Claire Hutchinson
Redx Oncology is the first subsidiary of Redx Pharma, an early stage drug development company based in Liverpool. Redx Oncology, is a private-sector centre for pre-clinical research and novel anti-cancer drug development, which launched in April last year.
Dr Derek Lindsay, Managing Director at Redx Oncology, said: We're delighted to be supporting such a worthwhile cause - the Liverpool Cancer Research UK Centre does world-class work which has a significant impact in tackling cancer.
The Redx team has done an amazing job to raise such a significant amount and we will no doubt continue to do all we can to support local charities.
The Liverpool Cancer Research UK Centre brings together scientists, doctors and nurses to boost key areas of research that will produce the greatest benefits for cancer patients in Liverpool, Merseyside and Cheshire. The Centre also focuses on tackling cancer in low income communities in the region, where more people die from the disease.
Professor John Neoptolemos, Head of Surgery and Oncology at the University of Liverpool and an international expert in the treatment of pancreatic cancer who works with the Liverpool Cancer Research UK Centre, accepted the cheque from Dr Lindsay on behalf of the charity.
Professor Neoptolemos said: The Liverpool CRUK Centre is incredibly grateful to be the recipient of Redx Pharma's Christmas fundraising donation. The level of funding needed to produce world class practice-changing research is enormous; therefore, donations like this one are vital.
Improving cancer prevention, diagnosis and treatment, underpinned by world class research and access to the latest therapies is the responsibility of many different organisations. Both the City of Liverpool and the Merseyside and Cheshire Region have the highest cancer mortality of any region in the UK and one of the worst in Europe.
This underlines the importance of the Liverpool Cancer Research UK Centre to bring local partners together in a common goal of reducing cancer mortality. The Liverpool CRUK Centre works closely with Redx Pharma to explore how links and relationships can be developed with its medicinal chemistry centre in Liverpool focusing in oncology.
The Liverpool Cancer Research UK Centre is a partnership between Cancer Research UK, the Royal Liverpool and Broadgreen University Hospitals NHS trust, Clatterbridge Centre of Oncology NHS Foundation Trust, the University of Liverpool, Liverpool City Council and the Merseyside and Cheshire Cancer Network.
Some of the UK's finest mid-sized and high-growth businesses were recognised at the 2012 Growing Business Awards on November 27, in association with Lloyds Bank, and hosted by the CBI and Real Business.
The awards ceremony, hosted by former Olympian and BBC presenter Steve Cram, honoured UK businesses across ten categories, ranging from Digital Champion to Entrepreneur of the Year.
Redx Pharma was shortlisted in the Young Company of the Year category.
Mark Stokes, Managing Director of Mid Markets, Lloyds Bank Wholesale Banking & Markets, said: It's encouraging to see so much innovation, energy and promise from all corners of the UK and across so many sectors. It's time to champion British enterprise and ensure these businesses reach their full potential in both national and international markets.
Dr Neil Bentley, CBI Deputy-Director General, said: The UK's small and medium-sized firms have some of the greatest potential to grow and increase jobs, so creating the right conditions for them to do business in is critical to the health of our economy.
The CBI is delighted to celebrate the achievements of these firms by supporting the Growing Business Awards.
Matthew Rock, Co-Founder of Real Business, added: This year's candidates are delivering 'economic replenishment'; a breed of new entrepreneurs are breaking into established industries and disrupting the long-standing market leaders. No business can rest on its laurels as they can be assured that a hungry, innovative and determined entrepreneur will soon be snapping at their heels.
The awards are supported by Cass Business School, Business Voice, Professional Engineering, Land Rover, Lloyds Private Banking, Spring Law, Cavendish, Visa, Your Business Your Future, Bdaily Business Network and the Financial Mail.
North Liverpool Academy welcomed former Minister of Merseyside, Lord Heseltine and former Education Secretary, Lord Baker to a showcase held yesterday for a brand new Life Sciences University Technical College based right here in Liverpool, due to open September 2013. They were joined by guest speakers including Neil Murray, CEO of Redx Pharma.
» www.merseybio.com/news/newsitem.asp?recordid=3532
» lifesciencesutc.co.uk/lord-heseltine-and-lord-baker-ensure-life-sciences...
Early stage drug development company Redx Pharma has been awarded a £4.7 million grant from the UK Government's Regional Growth Fund (RGF) to support the launch of a new £10.8 million research and development centre focused on anti-viral and anti-bacterial drugs.
The funding will enable the establishment of a new subsidiary, Redx Anti-Infectives Ltd, which will create 119 high value science jobs, based in Liverpool. The posts will be within chemistry, biochemistry and analytical testing. A further 28 specialist jobs are expected to be created within the wider supply chain.
The RGF support will be mirrored by £6.1 million of new private investment brokered by Manchester-based Acceleris Corporate Finance and sourced from a combination of commercial partnering revenue and shareholder equity.
This is the second successful award for Redx having previously won RGF backing for the launch of its first spin out, Redx Oncology Ltd, a cancer research and development subsidiary which currently employs more than 50 people in Liverpool.
Redx Anti-Infectives will begin operations in April 2013. The funds, which are subject to a due diligence process, will support an initial two-year industrial research phase of chemistry, biochemistry and analytical testing. The new R&D venture will focus on developing drugs to combat resistance to antibiotics and new medicines to tackle viral infections. These include developing anti-infective drugs tackling hard to treat infections, including the growing threat of drug resistant superbugs like MRSA, as well as conditions such as influenza, Hepatitis C and HIV.
Dr Neil Murray, chief executive of Redx Pharma, commented: We are obviously delighted to receive a second RGF award and eagerly anticipate applying our approach to the critical area of anti-infectives. The World Health Organisation has identified drug resistance, particularly in the area of anti-biotics, as one of the most pressing human health concerns globally. We believe that the fresh thinking and original approach that we apply will create effective solutions. Redx is a discovery engine for global pharma and it is innovative and agile companies like ours that can help the industry adapt to a new model of research and development where there is more willingness to outsource some of the challenges involved in creating new proprietary medicines. At Redx, our methods have already uncovered commercial potential that might otherwise have been missed and our approach can help partners to bring new medicines to market faster.
Business Secretary Vince Cable
with Dr Neil Murray
The UK Government Business Secretary Vince Cable visited the Redx Oncology laboratories to announce the company's award as well as meet staff and see the progress from their round two project.
Vince Cable said: The Regional Growth Fund is creating the long-term growth and jobs that Liverpool and the North West needs. Every project supports important local priorities and there is a good alignment with key sectors in our Industrial Strategy including automotive, aerospace and life sciences as illustrated here today at Redx Pharma.
Redx Pharma's previous award from round two has already helped them establish an impressive oncology research centre and has created over 50 new jobs since April this year. I look forward to seeing the progress of the vital drugs research that they are carrying out which will maintain the UK's competitiveness within the life sciences industry and deliver benefits for patients.
Redx Pharma itself was launched in 2010. It develops therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients include fewer side effects, greater efficacy and ease of use for people. Redx achieves revenues by entering into licensing agreements with mid-sized and large pharmaceutical partners who undertake further clinical studies with promising new drug compounds.
Redx plans to become the cornerstone tenant for the development of Liverpool's new Bio-Innovation Centre development, a £28m project planned to go ahead on land owned by the Royal Liverpool Hospital. The creation of a biomedical centre was one of the recommendations made by Lord Heseltine in his 2011 report on growth in the Liverpool City Region.
Created by Real Business and the CBI in 1999, the Growing Business Awards are the most established recognition for the UK's most innovative entrepreneurs, growing businesses and stars of tomorrow.
The Young Company of the Year award recognises brilliant new companies (started trading after April 2008 and currently more than six months old) that are changing or challenging their industry and are on track to be significant players in the future.
Judging day is 17 October. Fingers crossed.
Redx Pharma has been acknowledged as one of the North West's most innovative businesses at the annual Institute of Directors Awards.
The IoD Awards celebrate the very best the region's business community has to offer and recognises the best directors from across the spectrum of businesses in the North West.
The company's CEO, Neil Murray, was presented the The Weightmans Award for Innovation at a glittering ceremony at Lancashire County Cricket Club on Thursday, September 27.
Dr Neil Murray said: We've enjoyed an incredible year and it was an honour to accept this award on behalf of all of the Redx team.
This is the second major award the business has won this year, having taken the title of North West Newcomer at TheBusinessDesk.com's Masters award in April.
Directors from across the North West were represented at the event, which was hosted by BBC Breakfast's business presenter, Stephanie McGovern.
The awards were categorised by business structure and size this year, instead of by sub-region - a new system which attracted a record number of nominations.
The early stage drug development company Redx Pharma has today announced a licence agreement that will allow Dishman Pharmaceuticals & Chemicals to use process technology patented by the Liverpool-based firm.
The deal will see Dishman, which is listed on the Mumbai stock exchange and is a global supplier to the pharmaceutical industry, 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 it is anticipated that the deal will generate multi-million dollar revenues for both companies.
Dr Neil Murray, chief executive of Redx Pharma, commented: 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.
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.
commented Christian Dowdeswell, Commercial Director Dishman Group. 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. These new medicines offer patient benefits that include greater efficacy and fewer side effects. The drug development programmes are characterised by demonstrably lower risk and greater speed into development - and create licencing opportunities for large pharma companies.
Earlier this year Redx launched its first spin out business, Redx Oncology, and is presently planning a second, Redx Anti-Infectives.
As a global partner for pharmaceutical companies, Dishman has a portfolio of products and development, scale-up and manufacturing services.
Redx Pharma's approach to securing new intellectual property by preparing compounds that are one or more oxidation state removed from known drugs is featured in an article exploring lower-risk and lower-cost strategies for drug discovery. Written by Robert Scoffin at Cresset BioMolecular Discovery, published in Innovations in Pharmaceutical Technology journal, issue 42.
» Download PDF of Innovations in Pharmaceutical Technology article
Liverpool's life science community returns home from the world's largest global biotech event today (Friday June 22), delighted with reaction to the city's growing reputation.
Dr Geoff Wainwright of 2Bio Ltd and Dr Neil Murray of Redx Pharma represented Liverpool at the BIO International Convention in Boston, USA to explain the extent of Liverpool's ambition and excellence.
Some 25,000 delegates from more than 65 countries attended the convention, which highlighted the latest trends and opportunities for executives, investors, scientists and policy leaders.
Geoff Wainwright said: Under our Liverpool Life Sciences brand, we have highlighted the excellent work going on in Liverpool's Universities and Hospitals, and in our Life Sciences industry. Many of the people we have met have been interested in Liverpool and what it offers. We will continue to speak with them about the potential our City offers for their businesses to establish new projects or to locate their businesses in to. An unexpected and pleasant outcome has been the number of Liverpool-born executives we have met and have been able to tell them of the great changes the City has undergone since they left.
Dr Neil Murray of Redx Pharma added: BIO does attract a large number of deal makers and we've been able to make new contacts as well as affirm our relationships with existing partners.
George Freeman MP, the Life Sciences Advisor to Rt Hon David Willets MP, also attended Bio, commented: Liverpool illustrates the strengths of the UK as a global translational medicine hub. It's combination of long recognised clinical research excellence, top-rated University and patient catchment comprising one of England's largest conurbations, with a regrettably high-incidence of key target diseases, means that it is an attractive place for inward investment.
Life sciences are a critical part of the Liverpool City Region's Knowledge Economy plan and the city's presence at the Boston event is supported and part-financed through LCR Local Enterprise Partnership's European funding.
The Convention also featured the BIO Business Forum, a unique platform for biotechnology and pharmaceutical companies, academic research institutions and investors from around the world to gather and discuss strategic opportunities.
Dr Wainwright and Dr Murray worked closely with Kristen Hirst, Liverpool Vision's director for It's Liverpool in the USA who will build the city's US bio strategy and follow up on leads from the conference.
Max Steinberg, chief executive of Liverpool Vision, added: Science and innovation lie at the heart of Liverpool's strategy for growth.
Liverpool already has an important Knowledge Quarter which boasts a breath-taking and unrivalled combination of knowledge assets which reach out to every corner of the world and every aspect of modern life.
Our ambition is huge and we are actively looking to secure a 2m sq ft Biocampus, encompassing one of Europe's biggest clusters of bio-businesses, research facilities and a state of the art new teaching hospital.
There is a real affinity between our ambition and our approach because Liverpool is a location where entrepreneurial businesses like Redx Pharma can find the right support and conditions to reach their own aspirations.
Dr Geoff Wainwright (2Bio) and Dr Neil Murray (Redx Pharma) representing Liverpool Life Sciences at BIO 2012
Dr Neil Murray, CEO of Redx Pharma, not only represents the company at this week's BIO International Convention in Boston, but is also representing Liverpool and the city's ambitions to attract major biotech business.
For press coverage see:
Liverpool Daily Post
» http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2012/06/18/liverpool...
Insider News North West
» http://www.insidermedia.com/insider/north-west/72180-liverpools-life-science-sectors...
The Business Desk
» http://www.thebusinessdesk.com/mobile/northwest/news/335265-liverpool-promotes...
Liverpool is to exhibit its "unique" life sciences offer at the largest global event for biotechnologies next week.
Dr Geoff Wainwright of 2Bio Ltd and Dr Neil Murray of Redx Pharma will represent the city's sector at the BIO International Convention in Boston, USA from 18-21 June to explain the extent of Liverpool's ambition and excellence.
Geoff Wainwright said: Liverpool is a compelling proposition for investment because of our concentration of clinical, medical, educational and research assets.
We have a unique partnership between our leading organisations, including Redx Pharma, Liverpool Vision, Liverpool City Council, our major teaching hospitals, the new Life Sciences University Technical College and our Universities in order to deliver an exciting new model of development for the life science industry.
It will connect academic and specialist research assets to emerging technologies that have major market potential which will help propel the city as a leading international centre for life sciences. This conference is the most important place in the life sciences calendar to meet key contacts and build the right commercial relationships.
Life sciences are a critical part of the Liverpool City Region's Knowledge Economy plan and the city's presence at the Boston event is supported and part-financed through LCR Local Enterprise Partnership's European funding.
The BIO International Convention, which is expected to attract 25,000 delegates from more than 65 countries, will highlight the latest trends and the newest opportunities for executives, investors, scientists and policy leaders from around the world.
The Convention also features the BIO Business Forum, a unique platform for biotechnology and pharmaceutical companies, academic research institutions and investors from around the world to gather and discuss strategic opportunities.
Dr Neil Murray said: Biotech is a truly international business and we're pleased to see Liverpool Vision and the LEP championing the city's biotechnology assets.
Liverpool does have an increasingly integrated approach to bringing together the infrastructure, relationships and skills necessary to support the growth of life science companies in the region.
For Redx, BIO is a key international event that presents us with an important opportunity to meet partners and we are looking forward to pressing Liverpool's case on the world stage.
Dr Wainwright and Dr Murray will work closely with Kristen Hirst, Liverpool Vision's director for It's Liverpool in the USA who will build the city's US bio strategy and follow up on leads from the conference.
Max Steinberg, chief executive of Liverpool Vision, added: Science and innovation lie at the heart of Liverpool's strategy for growth.
Liverpool already has an important Knowledge Quarter which boast a breathtaking and unrivalled combination of knowledge assets which reach out to every corner of the world and every aspect of modern life.
Our ambition is huge and we are actively looking to secure a 2m sq ft Biocampus, encompassing one of Europe's biggest clusters of bio-businesses, research facilities and a state of the art new teaching hospital.
There is a real affinity between our ambition and our approach because Liverpool is a location where entrepreneurial businesses like Redx Pharma can find the right support and conditions to reach their own aspirations.
Dr Murray will be discussing ways of disrupting the dogmas of the pharmaceutical industry in a panel about the business finance challenge.
See the interview with Dr Murray:
» http://realbusiness.co.uk/news/new-scientists
Redx Pharma — the drug technology platform developer — will be attending BIO 2012 in Boston from 18th - 21st June.
BIO is the pre-eminent conference and partnering event for Biotechnology worldwide. Neil Murray (CEO), Norman Molyneux (Finance Director) and Steve Smith (VP Business Development) will be attending this year's event taking part in both partnering and conference activities.
To arrange a meeting at the conference, please contact .
Redx Pharma's Redox Switch platform modifies existing drugs, enabling faster candidate selection and development towards clinical trials for improved, "next generation" therapies.
Redx recently announced the launch of Redx Oncology, a wholly-owned subsidiary focused on exploiting the company's assets in the fight against cancer which sits alongside existing activities in the antibacterial, antiviral and cardiovascular areas.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised in excess of £9m in equity rounds and R&D grants since commencing operations at Liverpool's MerseyBIO in 2010.
Dr Murray highlights Liverpool's opportunity to be a city on the global stage of life science.
Downtown Liverpool's Frank McKenna interviews Dr Neil Murray about the city's future and how the knowledge economy, and specifically the biotech sector, can play its part.
» Download the Talk Radio 105.9 Downtown Liverpool In Business MP3 (12.8 MB)
EXCELLENCE, passion, outstanding achievement and innovation were celebrated today as the winners of TheBusinessDesk.com's North West Business Masters Awards were announced.
At an exclusive lunch at the Midland Hotel in Manchester, winners were announced in six categories, ranging from North West Newcomer - the most exciting new business, to North West Ambassador - the award for outstanding contribution by a senior business leader.
The awards, supported by headline sponsor Jaguar, were made after readers voted on a shortlist compiled by a high-level panel of judges.
...
Liverpool-based bio-medical start-up Redx Pharma was named North West Newcomer, ahead of fledgling tea brand Charbrew and sweet business Goody Good Stuff.
Judges were swayed by Redx's ambitious growth plans, which with the help of more than £5m from the Regional Growth Fund, will create more than 100 high-value scientific jobs in Liverpool at a cancer research base.
Finance director Norman Molyneux was presented with the award by sponsor Odgers Interim, represented by consultant Alex Lenihan.
...
Read the full article (subscribers only):
» http://www.thebusinessdesk.com/northwest/news/314462-north-west-business-masters...
Exploring the topic of "Tomorrow's city: can the private sector deliver?", Dr Murray joined political, academic and business commentators to discuss Liverpool's future.
Watch the full debate:
» http://www.liv.ac.uk/events/policy-provocations/tomorrows-city.php
The first of a 120-strong team of scientists started work this week at a new cancer research and development company that will eventually move into the proposed bio-medical park next to the Royal Liverpool University Hospital.
Read the full article:
» http://www.placenorthwest.co.uk/news/archive/11399-recruitment-starts...
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.
Read the full article:
» http://www.thebusinessdesk.com/northwest/news/305079-redx-oncology-opens...
Redx Oncology, a spin-out of Liverpool drug discovery company Redx Pharma, has been launched. The first of a 120-strong team of scientists have started work today.
Read the full article:
» http://www.bionow.co.uk/news/redxoncologylaunchesinliverpool.aspx
» http://www.insidermedia.com/insider/north-west/68612-redx-oncology-launches-liverpool
A pioneering cancer research firm has opened in Liverpool, UK.
Redx Oncology, a subsidiary of early stage drug development company Redx Pharma, which is already in Liverpool, has been supported by £5.9m from the Government's Regional Growth Fund.
Read the full article:
» http://www.manufacturingchemist.com/news/article_page/Redx_Oncology_opens...
A ground-breaking cancer research centre has opened in Liverpool.
Scientists at Redx Oncology are working on a five-year programme developing drugs to treat a variety of cancers.
The laboratory is based at the University of Liverpool, but will move to the £28m BioInnovation Centre which is due to open on Prescot Road in 2014.
Read the full article:
» http://www.bbc.co.uk/news/uk-england-merseyside-17595391
Featured on North West Tonight news programme broadcast at 6:30pm on Tuesday 3 April 2012, BBC One. Footage is no longer available on BBC iPlayer.
We are delighted to announce that Neil Murray, CEO at Redx Pharma will be presenting at this year's biopartnering and investment conference.
Read more about the conference:
» www.biotrinity.com
Redx Pharma will be attending the forthcoming Bio Europe Spring Conference in Amsterdam from 19th to 21st March.
Representing the company will be Neil Murray (CEO) and Steve Smith (VP Business Development). If you are attending this event and would like to arrange a meeting with Redx, please contact us through the Bio Europe Partnering System. Alternatively, you may contact directly.
Redx Pharma chief executive, Dr Neil Murray, said: The BioCampus is the right development in the right place. Our success and growth is undoubtedly to do with where we are, the networks we are involved in, and the knowledge, expertise and innovation that is located within this area.
Read the full article:
» http://www.liverpooldailypost.co.uk/liverpool-news/regional-news/2012/01/13/...
Bionow, the leading organisation for biomedical companies in the north west, has named Redx Pharma Ltd Start-Up Company of the Year at the 2011 Annual Bionow Awards.
The company scooped the accolade at the awards which recognise the success of regional companies, projects and individuals within the biotechnology and pharmaceutical sectors.
Dr Neil Murray, Chief Executive said To be recognised by our peers in the industry is testament to our success so far. We are all very pleased to be awarded Start-Up Company of the Year by Bionow and the award is a fitting tribute to the hard work and achievements by the Redx team
.
This is the third award the company has won since it was launched last year. Previous award wins include Knowledge Business of the Year at the Liverpool Daily Post Regional Business Awards and New Technology Deal of the Year at the Insider North West Dealmakers Awards.
After an initial successful collaboration, Liverpool-based drug discovery company, Redx Pharma have recently signed a master services agreement (MSA) with the Glasgow-based, translational biomarker services company, OracleBio Limited. The agreement will allow Redx Pharma to utilise OracleBio's translational biomarker expertise to aid development and add commercial value to its pipeline of over 250 potential new drug candidates.
Dr. Neil Murray, CEO of Redx Pharma commented, OracleBio provided exactly the right combination of disease area knowledge, practical biomarker services, data interpretation and quality that we look for in a CRO. We believe that their biomarker knowledge and practical capabilities will certainly help us to de-risk our drug discovery efforts and increase our chances of successfully reaching the market
.
Director of OracleBio Dr. Lorcan Sherry commented that The early implementation of translational biomarkers is the key to success with any drug discovery program, providing early go/no-go decisions and reduced attrition. As with most other drug discovery companies, Redx Pharma clearly see the benefit of early inclusion of translational biomarkers in their programs and we are delighted that they have chosen OracleBio as a partner to work on their extensive list of potential new drug candidates
.
Fellow Director Dr. John Waller continued Further to the implementation of sound translational biomarker strategies within their R&D programs, addressing biomarkers in their products' data packages will enhance the likelihood of a successful licensing deal with large Pharma
.
OracleBio offers both practical and consultancy biomarker services to Pharma, biotech and other companies within the life sciences sector. Its core services include Digital Image Analysis of histological tissue sections for biomarker and morphological profiling using Definiens state of the art Tissue Studio™ software. OracleBio also has extensive experience of biomarker study management performed through a combination of their internal capabilities and via partnerships with other trusted expert service providers.
Plans to develop a state-of-the-art drug research centre in Liverpool took a significant step forward today with the award of £5.9m from the Government's Regional Growth Fund to support a project which will create up to 250 bioscience jobs in the city.
Redx Pharma Ltd, which is based at MerseyBIO, has received a conditional offer letter for the grant, following an announcement made by Deputy Prime Minister Nick Clegg. The investment will help to finance an initial two-year research and development phase into promising new drugs for the treatment of cancer.
The Regional Growth Fund is a £1.4bn three-year fund operating across England to stimulate private sector-led sustainable economic growth and employment, provided by the Department for Business, Innovation & Skills. The grant offer is conditional on an intensive due diligence process which is expected to be completed in the next few months.
Redx's new Oncology Medicinal Chemistry Centre will be based in one of the city's existing state-of-the-art science buildings. It will be operational from mid 2012.
Dr Neil Murray, chief executive of Redx Pharma, said: Redx has the potential to be one of the cornerstones of the strategy to develop what's been dubbed locally as the Knowledge Economy and today's announcement is a glowing endorsement of a vision we share with the city.
Liverpool has given itself the challenge of enabling the establishment of two or three new life science businesses, which each employ 200-300 staff in the next 10-15 years. Redx Oncology will be the first of these companies and through developing our portfolio of new drug candidates we can raise Liverpool's life science profile and build on the city's established reputation in cancer care.
The bid was supported by Liverpool City Council (Liverpool Vision), the Mersey Partnership, the University of Liverpool, Royal Liverpool University Hospital, the Liverpool Cancer Research UK Centre and the planned North Liverpool Life Sciences University Technical College.
Max Steinberg, chief executive of Liverpool Vision, the city's economic development company, said: The expansion of Redx is a powerful statement of intent in respect of Liverpool's ambitions in bio sciences and we welcome this highly encouraging news.
The new research unit will bring economic and employment benefits to the city as well as help to ensure that a more effective supply of anti-cancer drugs will come to market much more quickly because of the drive and expertise of a Liverpool-based company.
Activities will be based around Redx Pharma's existing pipeline of 40 research cancer drugs which cover a wide variety of cancer types, and designed to deliver a flow of experimental drugs for progression into human clinical trials.
It's anticipated that a significant number of the new jobs in Liverpool will be filled by people relocating to the city. The UK pharmaceutical industry has shed over 4,000 science posts in the last two years as major players in the market have closed or consolidated in-house research facilities.
Redx Pharma was launched last year with public and private sector backing from a range of investors. The company develops therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients include fewer side effects, greater efficacy and ease of use for people.
Dr Pete Jackson, Redx Chairman commented, This is an important step towards securing the RGF grant, and we look forward to being able to complete the formal offer process in the months ahead. Liverpool has a highly respected reputation in cancer care, and we hope that Redx's new R&D centre can become an important part of this, supporting our vision of new cancer drugs invented in Liverpool, developed in Liverpool and, ultimately, saving lives in Liverpool.
In addition to its cancer portfolio, Redx has a broad-based pipeline of new compounds in multiple therapeutic areas. The company is currently progressing programs in the areas of cardiovascular medicine, influenza, antibiotics and neuropathic pain. It achieves revenues by entering into licensing agreements with mid-sized and large pharmaceutical partners who undertake further clinical studies with promising new drug compounds.
The company's Redox Switch™ platform technology allows rapid assessment of new drug candidates, which can go forward to development programs with lower risk and greater speed through clinical trials.
Redx Pharma will be attending the forthcoming Bio Europe Conference in Dusseldorf from 31st October to 2nd November.
Representing the company will be Neil Murray (CEO) and Pete Jackson (Chairman). If you are attending this event and would like to arrange a meeting with Redx, please contact us through the Bio Europe Partnering System. Alternatively, you may contact directly.
Drug development company Redx Pharma and Cresset, which develops software for calculating and comparing the molecular field characteristics of chemical compounds, recently announced the signing of a drug discovery collaboration.
To read more visit:
» www.drugdiscoverynews.com
SYN|thesis Med Chem Pty have signed an agreement with Liverpool-based pharmaceutical company Redx Pharma Ltd to provide contractual chemistry services. Medicinal chemistry will be carried out at SYN|thesis Med Chem facility in Shanghai, People's Republic of China with day-to-day project management via the Melbourne facility.
Dr Neil Murray, CEO at Redx Pharma, commented SYN|thesis not only offers us cost effective chemistry resources but also brings a wealth of experience which we can leverage in our own programs, to help bring new treatments faster, cheaper and with more chance of market success
. Professor Andrew Wilks, Executive Chairman of SYN|thesis said We are very much looking forward to working with Redx Pharma and the team. Their pioneering approach to the project, coupled with our medicinal chemistry expertise and flexible approach will make an exciting and productive combination
.
Cresset and Redx Pharma are pleased to announce that they have signed a major drug discovery collaboration. The collaboration gives Redx Pharma access to Cresset's publicly available and proprietary computational chemistry technologies for use on their portfolio of drug discovery programs. In addition Cresset will provide consulting services in the area of candidate selection across a broad range of therapeutic areas and targets.
Rob Scoffin, CEO of Cresset said, Cresset has developed an extensive range of consulting services around the critical areas of library design, compound design, virtual screening and lead optimization. In this case we will initially be focussing our skills on helping Redx with their lead candidate selection process, whilst the collaboration also gives Redx the ability to access our expertise, in a very flexible manner, across the full range of computational Drug Discovery services.
Cresset is a valuable partner in our Drug Discovery programs
, commented Dr Neil Murray, CEO of Redx Pharma, Their deep knowledge of computational chemistry and its application to drug discovery is enabling us to progress multiple projects across a wide range of target classes very quickly and cost-effectively
.
The Redx programs make use of a number of Cresset's computational chemistry tools. In particular FieldTemplater and FieldAlign are used respectively to provide binding hypotheses and predictions of likely biological similarity for sets of molecules in various lead series.
Cresset develops software for calculating and comparing the molecular Field characteristics of chemical compounds. Field technology uses the surface properties of molecules to evaluate their activities and properties, rather than relying on 2D structure similarity, which enables Cresset's users to find more interesting, novel and relevant results than other methods. Cresset's Fields provide a smarter, structure independent way of hit-finding, lead switching and lead optimization in drug discovery and other chemistry-based research projects. Cresset's Field technologies have been successfully applied to a very wide range of target classes, with and without structural information, on over 100 projects for major pharmaceutical and biotechnology companies.
When it comes to growing Merseyside's pharmaceuticals sector, it seems small really could be beautiful. The "life sciences" sector has long been tipped for growth by regeneration officials, who believe it could create thousands of skilled jobs.
The region already plays host to some of the biggest names in the pharmaceuticals world, from Novartis to Eli Lilly. But, according to the team at ambitious Liverpool pharmaceuticals firm Redx, it will be small companies that will drive the sector's growth in years to come.
Redx, based at MerseyBIO, specialises in developing new drugs based on existing compounds, rather than using the traditional "big pharma" model of developing drugs from scratch. That means it can get drugs to market more quickly, without the lengthy testing procedure needed to develop new drugs.
Redx has big ambitions. Its chief executive, Dr Neil Murray, said: The hope is that we will become a cornerstone of the biotechnology sector in Liverpool and the North West.
It aims to do that through its plans, unveiled in the Daily Post last month, for a £39m "centre of excellence" to develop cancer treatments. Redx has applied for £5.9m of Regional Growth Fund cash, which will in turn unlock £33m of private investment. The centre could, says Dr Murray, employ as many as 250 people when it opens in five years' time.
Initially, the project will be based at Liverpool Science Park, but in time it will move to the proposed BioCampus set to be built at the new Royal Liverpool Hospital. Redx would be the first company to sign up to the BioCampus - which health bosses hope will house many more small firms developing and marketing many new drugs.
Speaking last year, Royal Liverpool chief executive Tony Bell said: The BioCampus should enable Liverpool to carry out some of the best research in the world, it will put us right up there.
The BioCampus is designed for small firms that have the potential to grow into medium ones. That, says Dr Murray, is crucial to the long-term health of Liverpool's pharmaceutical sector. He said: The BioCampus is about organically growing companies of about 200 or 300 people that can give critical mass to the biosciences sector in the city.
Last month, Redx joined a 2Bio conference in Liverpool that debated theIssues facing the pharmaceutical sector. Speakers, including private equity veteran Jon Moulton, agreed that small firms needed to step into the gap left by "big pharma" as those giant firms were now developing fewer drugs.
Dr Murray said: There are three primary issues with the big pharma model. Firstly, their ability to develop their own drugs - they can't bring their drugs quickly enough to the market to meet their needs.
Then there is their funding model, in terms of the Investment of money in developing a drug versus the risks involved versus the revenue made in return. That drives them to a decision like, for example, they will only bring through drugs that will generate over $1bn in sales. Therefore, they will cut programmes that will only bring $500m of sales. It sounds crazy, but I understand where that comes from.
The third thing is the skills gap. There's a significant lack of people at a technician level.
Redx is based at MerseyBIO, the Crown Street innovation centre that today houses nine innovative life sciences firms. Geoff Wainwright, director of MerseyBIO's owner 2Bio, agrees that small firms are vital to the future of Merseyside's pharmaceutical sector.
He said: The pharmaceutical industry is producing less and less products. The cost of producing them isn't going down. The understanding that we now have of medicine is so much more sophisticated than even five years ago, let alone 20 years ago when some of these blockbuster drugs were conceived. The world is changing and it's hard for large organisations to adapt at that pace. It's a great opportunity for companies like Redx to step into the breach, and to help supply new products for the future.
One of the key issues for the sector, as identified in The Mersey Partnership's report into the city region's knowledge economy, is lack of laboratory space. The report says, for example, that several companies from MerseyBIO have gone on to greater success - but that lack of grow-on space in the area has contributed to 16 companies moving away from the city region.
And the report later states that, for the sector to grow, regeneration bodies will need to tackle the severe shortage of incubation space
and tackle the complete lack of grow-on space.
Several developments in the region could help solve that problem. As well as the BioCampus, the University of Liverpool is also developing new laboratories, while there have also been proposals to create an Innovation Park at Clatterbridge, Wirral. The region boasts a skilled workforce of pharmaceutical researchers but, in common with the rest of the UK, has a lack of lab technicians. Mr Wainwright said he was now working with Liverpool's Universities on plans to train more such technicians.
The region also boasts a new source of finance for life science firms in the form of the new North West Fund. A £25m pot has been set aside for the sector. Speaking at the 2Bio conference last month, Redx chairman Pete Jackson explained that his firm had been attracted to Liverpool from Bradford by three factors.
Firstly, the infrastructure,
he said. There was a lab ready-built that we could move into.
Secondly, there was a pool of people that could do the jobs we wanted. We recruited some great people from the university at post-doctoral level, and are in the process of attracting people from elsewhere in the UK.
But probably the key that unlocked the whole thing was the availability of finance. In one room we could meet people who gave us a grant. At MerseyBIO, that was relatively easy for us. We started with two people and went up to four. What's got to happen now is the same level of infrastructure, people and finance has to be in place for us to go up to 250 people. That's available in places like Singapore. The city has to be competitive for people to come here.
The conference also debated how the small firms that could change the face of the pharmaceuticals sector are becoming increasingly attractive to investors.
Jon Moulton, one of the UK's best-known venture capitalists, today leads private equity firm Better Capital. He told the delegates at Liverpool Science Park that small firms were well-placed to compete against the dinosaurs of the industry who were no longer innovating. Those innovative firms would, he said. prove attractive to private investors.
There are opportunities galore to innovate in low-cost areas,
he said. Small pharma has the opportunity to be nimble, lower-cost, innovative and to make money out of it. There's definitely money out there to finance these companies. It doesn't have to be handouts from the Government.
Mr Moulton was backed by Savvas Neophytou, an analyst with Liverpool broker Panmure Gordon. If you make your companies attractive enough to outside investors, we'll find them,
he said. People like Jon Moulton, Mr Neophytou said, need to be encouraged to invest in Liverpool. He said: Let's give the world a success story and more will follow.
Max Steinberg, chief executive of Liverpool Vision, said the city should offer a "coherent package" of support to pharmaceutical firms, including support to help them find premises. The biocampus and the Apex centre being built by the University of Liverpool could also, he says, help seed the bro-science firms of the future.
Liverpool should also, he said, shout about its record as a "science and learning city", while organisations in the sector should work together to ensure they do not duplicate each other's work.
And, he said, pharmaceutical firms in Liverpool should build on expanding links with China, where demand for pharmaceuticals is increasing. He said The city has some advantages, but if it doesn't develop these Chinese links it could miss out substantially.
Mr Jackson, of Redx, is clear that the pharmaceuticals sector could, with the right support, become a key part of Liverpool's economy. He said: If Liverpool wants to end up with vibrant industries, we are an industry based on intellectual property and the human skills base. It's a really good business area for Liverpool to push for. It needs people, facilities, decent buildings, university support. They're all in the land of the feasible. It's important that Liverpool gets things like this, or Liverpool will slide steadily downwards. It needs a council that's constructive. It needs all the help it can get.
A Merseyside pharmaceutical company has applied for a £5.9m government grant to help it establish a cancer treatment research centre and create 250 jobs.
Redx Pharma based in Crown Street Liverpool has asked the government's Regional Growth Fund to help it finance a £39m "centre of excellence". It said the cash would help it conduct early stage research into new drugs. The project is backed by the city council, Royal Liverpool University Hospital and Cancer Research UK.
The grant will help it fund an initial two-year research project that will pave the way for the company's own shareholders and investors to contribute a further £33.2m over five years.
The company said that if the funding bid was successful the new centre, equipped with the latest chemistry, biochemistry and testing resources, would be operational by 2012.
Max Steinberg, chief executive of Liverpool Vision, the city council's economic development company, said: With the development of the Royal Liverpool University Hospital and associated cluster of businesses, our city has the potential to become a world leader in bio sciences and the expansion of Redx would in itself be a powerful statement of intent in respect of the city's ambitions in this field.
In addition to the pure economic and employment benefits, the project will help to ensure that a more effective supply of anti-cancer drugs will be brought to market much more quickly because of the drive and expertise of a UK-based company.
Dr Neil Murray, chief executive of Redx Pharma, said: We share a vision with the city that life science has a major role to play in the development of Liverpool's future and we believe that our centre of excellence will create the critical mass necessary to create a step change in that strategy.
» http://www.bbc.co.uk/news/uk-england-merseyside-13897921
» http://www.liverpooldailypost.co.uk/...Redx-39m-cancer-drug-research-centre...
Redx Pharma - the drug technology platform developer - has been awarded the title of "Knowledge Business of the Year" at the Liverpool Daily Post Regional Business Awards 2011.
Commenting on the award, Redx CEO Neil Murray said, We are delighted to win this award which is a tribute to the hard work of the Redx team. We are passionate about helping to grow Life Sciences in Liverpool and so to be recognised in these important awards for the North West means a lot to the company.
Redx Pharma's Redox Switch platform modifies existing drugs, enabling faster candidate selection and development towards clinical trials for improved "next generation" therapies.
Redx recently announced an extension to their IP portfolio covering over 250 new Redox Switch libraries among existing marketed drugs and drugs still in clinical trials.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised in excess of £3m in equity rounds and R&D grants since commencing operations at Liverpool's MerseyBIO in mid-2007.
» http://www.liverpooldailypost.co.uk/...picture-gallery-of-the-night...
» http://www.liverpooldailypost.co.uk/...business-person-of-the-year...
Redx Pharma - the drug technology platform developer - will be attending Bio 2011 in Washington DC from 26th - 29th June.
Bio is the pre-eminent conference and partnering event for Biotechnology worldwide. Neil Murray (CEO), Pete Jackson (Chairman) and Norman Molyneux (Finance Director) will be attending this year's event taking part in both partnering and conference activities.
To arrange a meeting at the conference, please contact .
Redx Pharma's Redox Switch platform modifies existing drugs, enabling faster candidate selection and development towards clinical trials for improved, "next generation" therapies.
Redx recently announced an extension to their IP portfolio covering over 250 new Redox Switch libraries among existing marketed drugs and drugs still in clinical trials.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised in excess of £3m in equity rounds and R&D grants since commencing operations at Liverpool's MerseyBIO in mid-2007.
Redx Pharma - the drug technology platform developer - has signed the first R&D collaboration deal for its Redox Switch platform. It is to work with Thromboserin Ltd on its anti-thrombosis technology.
The Redox Switch platform modifies existing drugs, enabling faster candidate selection and development towards clinical trials for improved, "next generation" therapies.
Redx will work with Thromboserin to develop new Redox Switch analogues of Thromboserin's clinical pipeline to support commercialisation of the anti-thrombotic franchise. Financial terms were not disclosed.
Professor Mark Noble, founder of Thromboserin commented, We are delighted to be working with Redx on the development of our thrombosis pipeline. There remains a significant unmet need in the treatment of thrombosis - particularly in the area of excessive bleeding that results from the use of existing therapies. Our products have been shown in patients to eliminate this problem and we look forward to extending our pipeline of products with Redx's help.
Proof-of-concept technical milestones for Redox Switch-generated compounds have already been reached for cardiovascular, anti-bacterial and anti-viral indications - three of the company's four initial programmes.
Securing this R&D collaboration is an important further milestone for our Redox Switch approach
, said Redx CEO Dr Neil Murray. We expect that this will be the first of many such deals as pharmaceutical companies come to recognise the potential of our Redox Switch platform to lower the cost and timescale of bringing novel new drugs through development
.
Redx recently announced a further patent covering over 250 new Redox Switch libraries among existing marketed drugs and drugs still in clinical trials.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised in excess of £3m in equity rounds and R&D grants since commencing operations at Liverpool's MerseyBIO in mid-2007.
Drug technology platform developer Redx Pharma has been short-listed for the Knowledge Business of the Year Award in the upcoming Liverpool Daily Post Regional Business Awards 2011.
Following on from the company's success at the Business Insider Awards 2010 where the company won the award for Technology Deal of the Year, the short-listing is further recognition of Redx's technology and business strategy.
Focused on the early stage development of drugs, Redx Pharma's Redox Switch technology platform modifies existing drugs via novel chemistry. This enables faster candidate selection and development towards clinical trials of improved, next generation therapies.
Redx Pharma CEO Dr. Neil Murray commented: We are delighted to have been short-listed for the Knowledge Business of the Year. This is a credit to our scientific team and the hard work that they have put in to developing our Redox Switch technology
.
And he added: We've had a very successful few months since closing our Series A funding round with significant progress across all areas of the business including further validation of our technology. It is pleasing to see this success being recognised
.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised £3m. in equity rounds and R&D Grants since commencing operations at MerseyBIO in mid-2007.
Investors include the NWDA's Northwest Interim Venture Capital Fund, YFM Equity Partners, Jon Moulton, a syndicate of private investors - led by corporate finance specialist and Redx co-founder Acceleris - and Redx's senior management team.
Liverpool-based pharmaceutical company Redx Pharma has added microRNA-based screening to its testing portfolio under a Master Services Agreement with technology leader Sistemic.
Under the deal, Redx will use Sistemic's proprietary technology to accelerate preclinical development of over 250 new drug candidates in its pipeline.
Dr. Neil Murray, CEO of Redx Pharma commented, We have found the Sistemic approach unique and compelling and we look forward to developing a long and mutually beneficial relationship with them where they will help us with our drug discovery programmes, to bring new treatments faster, cheaper and with more chance of success to the market
.
Sistemic Chief Executive Jim Reid commented that After our first successful project where we worked with Redx on their exciting range of new statin compounds we are delighted they have decided to extend our collaboration to a wider range of candidates covering many exciting disease areas. Once again this is further confirmation of the strength and broad applicability of our technologies. Sistemic is about giving our clients more instructive information and understanding of their compounds from microRNA profiling, enhancing outcomes in drug discovery.
Redx Pharma's business strategy is to fast-track new drug candidates towards clinical readiness, prior to out-licensing development and commercialisation. The business has raised in excess of £3m in equity rounds and R&D grants since commencing operations at Liverpool's MerseyBIO in mid-2007.
Drug developer Redx Pharma has appointed Dr. Mark Craighead to the newly-created role of Senior Project Manager.
The company's Redox Switch platform modifies existing drugs, enabling faster candidate selection and development towards clinical trials of improved, "next generation" therapies.
With key experience in pre-clinical compound development, Mark's role will focus on managing collaboration with specialist service providers and drug companies working in R&D partnership with Redx.
Based at Redx's recently expanded office and labs in Liverpool's MerseyBIO facility, Mark reports to CEO Dr. Neil Murray.
Redx has IP-secured lead programmes for indications in cardiovascular, influenza, antibiotics and neuropathic pain. The company has recently filed a new patent to cover over 250 additional candidates, adding diabetes, immune disease, cancer and a range of central nervous system (CNS) conditions to its preclinical pipeline.
Mark was most recently a Research Scientist and Team Leader for the molecular pharmacology team at Merck. He previously served as a Project Leader in the Schering-Plough Research Institute, responsible for taking compounds into pre-clinical development.
Prior to spending four years as a Post-Doctoral Researcher at the University of Manchester, Mark gained a PhD in Cell Biology from University College London and his Biochemistry BSc (Hons) from Edinburgh University.
Fundraising for Redx Pharma Limited has been awarded New Technology Deal of the Year at the Insider North West Dealmakers Awards 2010.
The launch was supported by the NWDA's Northwest Interim Venture Capital Fund, managed by YFM Private Equity and backing from a number of private investors, including the venture capitalist Jon Moulton. This syndicate of private investors was brought together by Acceleris, the Manchester-based corporate finance house.
Redx Pharma will develop therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients will include fewer side effects, greater efficacy and ease of use for people.
Redx Pharma has very interesting technology and strong prospects.
- Jon Moulton
Redx Pharma will be at the forefront of biotech in the North West and this investment leaves us well placed to exploit the state-of-the-art facilities we have at MerseyBIO, our close links with University of Liverpool and the enormous potential of the global pharmaceuticals market.
- Dr Neil Murray, Chief Executive of Redx Pharma
Congratulations are in order - this is a positive development for the North West biotech sector and we are all excited about where Redx Pharma goes from here.
- Acceleris director Norman Molyneux
A new UK based bioscience company, Redx Pharma Ltd, has been launched today with a £1.9m investment package from the public and private sector.
Support has been provided by the NWDA's Northwest Interim Venture Capital Fund, which is managed by YFM Private Equity, and includes backing from the European Regional Development Fund (ERDF).
A number of private investors have also taken a stake, including the venture capitalist Jon Moulton and several investors from the North West, Yorkshire and London.
Redx Pharma will develop therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients will include fewer side effects, greater efficacy and ease of use for people.
As part of the investment, Redx Pharma has acquired the assets of Bradford Pharma Ltd and will take over its operation which has been based at MerseyBIO, the incubator unit owned by the University of Liverpool, since 2007.
Redx Pharma is focused on the early stage development of drugs. Its Redox Switch™ platform technology allows rapid assessment of new drug candidates, which can go forward to development programmes with lower risk and greater speed to clinical trials.
By entering into licensing agreements for promising compounds, Redx Pharma aims to achieve multi-million pound revenues from mid-sized and large pharmaceutical partners.
Redx Pharma has a broad-based pipeline of new compounds in multiple therapeutic areas. The company is progressing programs in the areas of cardiovascular medicine, influenza, antibiotics and neuropathic pain. The Redox Switch™ approach can be applied to around 20 per cent of the world's existing medicines.
This syndicate of private investors was brought together by Acceleris, the Manchester-based corporate finance house, which is also a founding shareholder of Redx Pharma.
Acceleris director Norman Molyneux commented: Congratulations are in order - this is a positive development for the North West biotech sector and we are all excited about where Redx Pharma goes from here. Deals of this nature have been scarce over the last 18 months and it's fair to say the Enterprise Investment Scheme - a tax incentive to encourage support for small companies - was instrumental in helping us put the package together.
The Redx Pharma management team is led by Dr Neil Murray, chief executive, who has over 20 years experience in the commercialisation of platform technologies and overall drug development strategy, planning and management.
The Redx Pharma board is chaired by Dr Peter Jackson, who is also chief executive of the chemical catalyst company Reaxa Ltd, based in Manchester, and was formerly vice president of Avecia's Pharmaceutical Products business unit. One of Redx Pharma's founders, Dr Jackson provides business and commercial consultancy to the company.
Dr Neil Murray commented: Redx Pharma will be at the forefront of biotech in the North West and this investment leaves us well placed to exploit the state-of-the-art facilities we have at MerseyBIO, our close links with University of Liverpool and the enormous potential of the global pharmaceuticals market.
He added: We'd also like to acknowledge the effort made by the NWDA to support the development of the bioscience cluster in the North West over the years.
Jon Moulton commented: Redx Pharma has very interesting technology and strong prospects.
Doug Stellman, Investment Director, YFM Private Equity said: There is good public awareness of the continual battle to develop new formulations of antibiotics as bacteria acquire resistance to existing drugs. The company has a technology platform that will allow it to develop new formulations for antibiotics and other important drug classes. This round of venture capital funding is the vital step in taking this technology platform forward from proof of concept. It is hugely pleasing to see this MerseyBIO-based business close on a significant round of funding from investors who have recognised the potential of the technology and are prepared to invest at this stage.
Frank Shephard and a corporate team including Lisa Stavropoulos and Kelly Harvey from DWF Manchester gave legal advice to the Redx Pharma board. A team from the Manchester office of Cobbetts LLP, comprising corporate partner Nicola Frost and director Paul Kelly, provided legal advice to YFM.
