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Redx Cashes In Cancer Program With Jazz Pact

 
• By Kevin Grogan

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.

Balance sheet
THE JAZZ CASH will HELP redx balance the books this year • Source: Shutterstock

Redx Pharma PLC has seen its valuation more than double after selling off another preclinical asset with Jazz Pharmaceuticals PLC getting its hands on the UK firm's pan-RAF inhibitor program.

As part of the agreement, Redx will receive an upfront fee of $3.5m in cash but is eligible to receive up to $203m in development, regulatory and commercial milestone payments,...

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