Redx Pharma shares jumped on Wednesday after the group agreed on the disposal of their KRAS oncology inhibitor program.
Jazz Pharmaceuticals has signed an agreement to acquire Redx Pharma’s KRAS inhibitor program for $10 million upfront. Redx is eligible for up to $870 million in development, regulatory and commercial milestone payments.
Redx Pharma shares were 15% to the good at the time of writing.
The next milestone is IND clearance from the FDA.
Redx will receive tiered mid-single digit percentage royalties on any future net sales. As part of a separate collaboration agreement, Jazz will pay Redx to conduct research and preclinical development to complete IND-enabling studies for the KRAS inhibitors.
The deal includes rights to Redx’s G12D selective and pan-KRAS molecules. Jazz will take over all clinical development, regulatory, manufacturing and commercialization activities after IND-enabling studies.
“KRAS is a well-validated oncology target and there remains a high unmet need for innovation in this area based on challenges in developing molecules to target specific KRAS mutations. Redx has discovered a number of preclinical KRAS candidates and we plan to leverage our collective oncology development expertise to identify and advance the most promising molecules toward the clinic,” said Robert Iannone, M.D., M.S.C.E., executive vice president, global head of research and development of Jazz Pharmaceuticals.
“This transaction further expands our early-stage oncology pipeline, and we are excited to explore novel approaches to improving treatment options for cancer patients.”
