Redx Pharma has “a lot to be excited about” after successful fundraise
–News Direct–
Redx Pharma PLC (AIM:REDX) Chief Financial Officer Peter Collum speaks to Thomas Warner from Proactive after the clinical-stage biotechnology company announced a 14.1mln fundraise from existing investors that will take its working capital to more than 28mln.
Collum explains that the additional funding will extend the company's cash runway from early 2024 into the third quarter, enabling them to achieve critical milestones in their portfolio development plan. He says that one of the key highlights is the Phase 2a data release for their lead asset, the selective ROCK2 inhibitor known as Zelasudil, with a focus on treating Idiopathic Pulmonary Fibrosis (IPF). IPF is a severe lung condition with limited treatment options, making this development crucial for patients.
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