Redx Cashes In Cancer Program With Jazz Pact
Shares in the UK biotech tripled to a 52-week high after it announced the sale of its pan-RAF inhibitor program to Jazz that could eventually be worth around $200m.
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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.