AstraZeneca And Redx Ink R&D Deal On Tumor Genetics
British drug firm AstraZeneca and Redx Pharma announced that they have signed into a research collaboration to discover and develop new molecules that will combat a genetic driver of tumor survival and growth.
As part of the agreement, AZ will make an upfront payment to Redx Pharma, as well as potential tiered royalties and milestones based on meeting certain development and commercial targets. AZ gains the exclusive rights to advance the development and marketing of any program resulting from the partnership as additions to its portfolio of cancer drugs. No financial terms of the agreement were disclosed by either company.
Neil Murray, Chief Executive of Redx Pharma, said that the company welcomes the chance to rub elbows with AZ in the research project. “This deal represents a significant development for our oncology business — another major transaction and the first time we’ve had an opportunity to work with the Oncology Innovative Medicines Unit at AstraZeneca. The project is a good fit for both parties and builds on Redx’s strong track record in rapidly developing novel drugs in cancer.”
Redx Pharma is one of the pioneer tenants at AZ’s BioHub located in Alderley Park in Cheshire. The partners will work on-site as well as at Redx’s Liverpool facility. Redx Pharma’s team of scientists will work with AstraZeneca’s Oncology Innovative Medicines group to speed up the drug discovery process.
Susan Galbraith, Head of the Oncology Innovative Medicines Unit at AstraZeneca, said, “This partnership is based on our own early stage oncology research focused on the genetic drivers of cancer and allows us to build on our combined drug discovery expertise. The co-location of our scientists will facilitate our collaboration. This agreement supports our strategic objectives of accelerating discovery and improving the quality and choice of candidate compounds for our early pipeline.”
This news follows shortly in the footsteps of the pharma giant’s three-year collaborative research deal with Mitsubishi Tanabe Pharma Corporation (MTPC) in the area of diabetic nephropathy.