|
Redx Pharma PLC on Wednesday said it has struck a deal to sell Kirsten rat sarcoma virus inhibitor program to Dublin-based Jazz Pharmaceuticals PLC. Redx Pharma shares soared 44% to 28.70 pence each in London on Wednesday morning. The Macclesfield, England-based clinical-stage biotechnology company said it will receive $10 million upfront, with a potential for up to $870 million in development, regulatory and sales milestone payments in addition to royalties on future net sales. Jazz Pharmaceuticals and Redx will collaborate to advance candidates through IND-enabling studies; Jazz Pharmaceuticals will be responsible for all clinical development, regulatory, manufacturing and commercialisation activities. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
