Deinove takes option on Redx Pharma antibiotic portfolio

22 March 2018

French biotech company Deinove (Euronext Growth Paris: ALDEI) has signed a license option agreement with British firm Redx Pharma (AIM: REDX) for the acquisition of its first-in-class anti-infective program, novel bacterial topoisomerase inhibitor (NBTI).

Although no financial terms of the deal were provided, it is good news for Redx, which only last November exited administration as a going concern. However, the company’s shares dipped 2.2% to 11.00 pence in mid-morning trading.

Redx announced in March 2017 that it would concentrate on the development of its cancer and fibrosis products and would look to partner its anti-infective programs.

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