Redx rises on deal with Jazz Pharma on targeted cancer therapies

9 September 2020

UK biotech Redx Pharma’s (AIM: REDX) shares were up nearly 20% at 62.90 pence by early afternoon, after the company revealed it has signed a new research collaboration agreement with Jazz Pharmaceuticals (Nasdaq: JAZZ) to discover and develop drug candidates for two cancer targets on the Ras/Raf/MAP kinase (MAPK) pathway.

Redx will be responsible for research and pre-clinical development activities up to Investigational New Drug (IND) submission. Jazz also rallied, with its shares up just shy of 5% at $138.27.

This is the second major licensing deal in the space of around five weeks for Redx, which is set to pick up as much as $377 million in a collaboration with AstraZeneca (LSE: AZN) for its porcupine inhibitor, RXC006.

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