Redx raises $43 million to fund work on targeted therapies
British targeted medicine company Redx Pharma (AIM: REDX) has raised a total of £35 million ($43 million) in a share placement, with both new and existing institutional investors participating in the funding round.
The company is focused on discovering and developing novel, small molecule, highly targeted therapeutics for the treatment of cancer and fibrotic disease.
The money will be used to fund the anticipated progression of Redx’ clinical development and research stage programs, extending its cash runway through to the end of 2023.
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