Redx Pharma secures £4.7m for spinout
Redx Pharma has been awarded £4.7m from the British Regional Growth Fund to launch new subsidiary Redx Anti-Infectives Ltd.
The total round is worth £10.8m, with the remaining £6.1m being provided by Acceleris Corporate Finance.
Company
Redx Anti-Infectives will be a subsidiary of Redx Pharma and enter operations in April 2013. The subsidiary is operating as a research and development centre for anti-viral and anti-bacterial drugs. It aims to find treatment solutions for increasingly drug-resistant conditions, like influenza, hepatitis C and HIV. Redx Anti-Infectives will create 147 jobs in total.
Redx Pharma was launched in 2010 and is focused on creating proprietary medicines derived from existing treatment solutions. Its subsidiary Redx Oncology, which specialises in cancer research, was also supported by the Regional Growth Fund upon its spinout.
People
Neil Murray is CEO of Redx Pharma.
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