REG - Redx Pharma plc - Directorate Change

Redx PharmaAnnouncement

22/08/2023 07:00

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RNS Number : 9919J  Redx Pharma plc  22 August 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018

REDX PHARMA PLC

("Redx" or the "Company")

Directorate Change

Alderley Park, UK, 22 August 2023 Redx (AIM:REDX), the clinical-stage
biotechnology company focused on discovering and developing novel, small
molecule, targeted therapeutics for the treatment of fibrotic disease and
cancer announces that Sarah Gordon-Wild, independent non-executive director on
the Board of Directors ("Board") has resigned, for personal reasons, as a
director of the Company effective at the end of the Company's current
financial year on 30 September 2023.

Ms. Gordon-Wild was appointed to the Board on 1 June 2020.  She currently
holds 1,316,587 shares in the Company, representing 0.39% of the Company's
issued share capital, and intends to continue supporting the Company as a
shareholder.  Ms. Gordon-Wild also holds 200,000 options over shares in the
Company, issued pursuant to the Company's Directors' Share Options Scheme
2021, two-thirds of which have vested and are exercisable as on 1 July 2023.
The unvested share options, and the vested share options to the extent not
exercised, will lapse upon Ms. Gordon-Wild's resignation becoming effective on
30 September 2023 in accordance with the terms of the Scheme.

At this time, the Company does not intend to appoint a replacement independent
non-executive director to the Board following Ms. Gordon-Wild's resignation
becoming effective.

Ms. Gordon-Wild is currently Chair of the Remuneration Committee and a member
of the Audit Committee of the Board. Following her resignation becoming
effective, it is intended that Dr. Bernhard Kirschbaum will be appointed Chair
of the Remuneration Committee. The Board does not currently intend to appoint
a replacement director for Ms. Gordon-Wild to either Committee.

Dr. Jane Griffiths, Chair of the Board, commented: "On behalf of the Board, I
would like to thank Sarah for her significant contribution over the last 3
years and for her ongoing commitment to the Company as a shareholder. We wish
her all the best in her future endeavours."

The person responsible for arranging for the release of this announcement on
behalf of the Company is Nischal Hindia, Interim Company Secretary.

 For further information, please contact:

 Redx Pharma Plc                                                      T: +44 (0)1625 469 918

 UK Headquarters

 Caitlin Pearson, Head of Communications

 ir@redxpharma.com (mailto:ir@redxpharma.com)

 Lisa Anson, Chief Executive Officer

 US Office

 Peter Collum, Chief Financial Officer

 SPARK Advisory Partners (Nominated Adviser)                          T: +44 (0)203 368 3550
 Matt Davis/ Adam Dawes

 WG Partners LLP (Joint Broker)                                       T: +44 (0)203 705 9330
 Claes Spång/ Satheesh Nadarajah/ David Wilson

 Panmure Gordon (UK) Limited (Joint Broker)                           T: +44 (0)207 886 2500
 Rupert Dearden/ Freddy Crossley/ Emma Earl

 FTI Consulting                                                       T: +44 (0)203 727 1000
 Simon Conway/ Ciara Martin

 

About Redx Pharma Plc

Redx Pharma (AIM: REDX) is a clinical-stage biotechnology company focused on
the discovery and development of novel, small molecule, targeted therapeutics
for the treatment of fibrotic disease, cancer and the emerging area of
cancer-associated fibrosis, aiming initially to progress them to clinical
proof of concept before evaluating options for further development and
potential value creation. The Company's lead fibrosis product candidate, the
selective ROCK2 inhibitor, zelasudil (RXC007), is in development for
interstitial lung disease and commenced a Phase 2a trial for idiopathic
pulmonary fibrosis (IPF) in October 2022, with topline data expected in Q1
2024. Redx's lead oncology product candidate, the Porcupine inhibitor RXC004,
being developed as a targeted treatment for Wnt-ligand dependent cancers, is
expected to report combination with anti-PD-1 Phase 2 data during 2023.
Redx's third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the
treatment of fibrostenotic Crohn's disease, is progressing towards a CTA
application at the end of 2023.

 

The Company has a strong track record of discovering new drug candidates
through its core strengths in medicinal chemistry and translational science,
enabling the Company to discover and develop differentiated therapeutics
against biologically or clinically validated targets. The Company's
accomplishments are evidenced not only by its two wholly-owned clinical-stage
product candidates and rapidly expanding pipeline, but also by its strategic
transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a
non-covalent (reversible) BTK inhibitor now approved by the US FDA for adult
patients with mantle cell lymphoma previously treated with a covalent BTK
inhibitor, and AZD5055/RXC006, a Porcupine inhibitor targeting fibrotic
diseases including IPF, which AstraZeneca is progressing in a Phase 1 clinical
study. In addition, Redx has forged collaborations with Jazz Pharmaceuticals,
which includes JZP815, a pan-RAF inhibitor developed by Redx which Jazz is now
progressing through Phase 1 clinical studies, and an early stage oncology
research collaboration.

 

To subscribe to Email Alerts from Redx, please
visit: www.redxpharma.com/investor-centre/email-alerts/
(http://www.redxpharma.com/investor-centre/email-alerts/) .

 

 

 

 

 

 

 

 

 

 

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