Redx Ready To Get Back To The Clinic After Tough Year
CEO Lisa Anson has brought "a sense of urgency, focus and realism" to Redx since she took over five months ago, says its chairman, and the firm has high hopes for its investigational porcupine inhibitors.
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Redx's takeover talks with a consortium led by controversial biotech veteran Sam Waksal, who was jailed for five years over his role in the ImClone stock scandal in 2003, have been terminated but the UK biotech has received a financial lifeline from Redmile and Sofinnova.
Chris Doherty, managing director of the UK's Alderley Park, tells Scrip that the departure of the drug giant from its global R&D headquarters has acted as a catalyst to create a vibrant biotech cluster that is attractive to local, national and international companies.
The Boston-based biotech has secured a substantial new investment for its protein degradation platform which has the potential to treat currently undruggable cancers in a new way.