Redx Pharma plc Directorate Change (9919J)
August 22 2023 - 2:00AM
UK Regulatory
TIDMREDX
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
UK Headquarters 469 918
Caitlin Pearson, Head of Communications
ir@redxpharma.com
Lisa Anson, Chief Executive
Officer
US Office
Peter Collum, Chief Financial
Officer
SPARK Advisory Partners (Nominated T: +44 (0)203
Adviser) 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 T: +44 (0)207
(Joint Broker) 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/ .
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