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Norman: Truly proud of Redx as £15m is raised in AIM float
cceleris Capital is celebrating the successful listing of
portfolio company, Redx Pharma on the AIM market
of the London Stock Exchange at a market cap of
£55.2m, raising £15m of capital to support the continued
growth of the business.
Chief Executive of Acceleris, Norman Molyneux said;
“Acceleris is truly proud to announce the admission of
Redx Pharma to the AIM market. We have supported Redx
Pharma from start-up to its current position as a leader in
cancer and infectious disease research, creating around 150
jobs in Cheshire and Liverpool. It is a pleasure to be part of
another success story for our investors and business in the
North West.”
Established in 2010 and based at two sites, in Liverpool
and Alderley Park, Cheshire, Redx is a drug discovery
and development company focused on the development of
proprietary, small molecule therapeutics to address areas
of unmet medical need, principally in cancer and infectious
disease. Redx has secured high profile partnerships and
collaborations as part of its business model, the most
significant being a two year research agreement with
AstraZeneca and a partnership with the NHS.
Flotation on AIM and the fundraising will progress the
company’s current pipeline of oncology and infectious
disease assets, providing an opportunity for further license
and collaboration deals. It will also support the launch
of a third subsidiary focused on immunology. Acceleris
Capital, part of Seneca, has been involved with Redx
and it’s predecessor for 10 years, acting as non executive
director and Company Secretary, as well as advising on and
organising numerous successful funding rounds.
Neil Murray, Chief Executive Officer
of Redx, pictured below with BBC’s
Stephanie McGovern, commented:
“The placing and Redx’s admission to
AIM mark another step in the company’s
development and the prospects for Redx
look exciting. We have a very promising
pipeline of potential drug candidates in
two areas of high unmet need, cancer and
infection. Alongside this, we have strong
partnerships and collaborations including
with AstraZeneca and the NHS.
Our approach to focus on improving
existing drug classes and to partner early
has helped us to establish Redx as a
highly attractive pipeline generator to
large pharma and emerging life sciences
companies. We look forward to reporting
on the company’s continuing progress as
an AIM-quoted company.”
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