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Redx Pharma gets UK go-ahead for first clinical trial of cancer treatment

11:41 EDT 23 Jun 2017 | Proactive Investors

Redx Pharma Plc (LON:REDX) has received approval from the UK regulator (MHRA) and the Ethics Review Committee for a first clinical trial of cancer treatment RXC004. The approval gives permission for Redx to initiate a Phase IB/ Phase IIA study of RXC004 in patients suffering from gastric, biliary and pancreatic cancer. RXC004 is an oral, small molecule Porcupine inhibitor in development as a monotherapy for difficult to treat cancers. In addition, the trial would explore the effectiveness in combination with a PD-1 checkpoint inhibitor.  Iain Ross, non-executive chairman, said: "Receiving regulatory approval to advance our first program into clinic is a major step forward in Redx's development.  “We believe that RXC004 has great potential to treat some very challenging cancers that currently have very poor prognosis." RedX shares are currently suspended after the company was forced into administration when Liverpool City Council (LCC) called in a £2mln loan in May. That loan was made to RedX Oncology, a subsidiary of Redx, but the parent company was unable to stump up the money. Earlier this week, the Aim-listed firm said it was working with its advisers and the administrators on proposals to rescue Redx and return it to the control of its directors.  

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