Redx Pharma PLC (LON:REDX) said grant funding for its latest project provided “validation” of its scientific capabilities.
The AIM-listed group is collaborating with the Medicines Discovery Catapult, a government body that helps accelerate the discovery of new treatments.
The work will focus on potential new drugs for idiopathic pulmonary fibrosis (IPF), a life-threatening fibrotic lung condition.
The partnership has been awarded Biomedical Catalyst funding by Innovate UK, an arm’s length government operation that bankrolls research projects. No financial details were given.
Redx will provide expertise in the development of precision medicines, including its company's Porcupine and ROCK 2 inhibitors, which have been designed to tackle fibrosis and inflammation.
The MDC, meanwhile, will develop biomarker strategies, which measure the presence and severity of disease.
"We are excited to enter into this unique collaboration with Medicines Discovery Catapult and would like to thank Innovate UK for the validation of our teams' scientific capabilities with the Biomedical Catalyst funding award,” said Dr Richard Armer, Redx’s chief scientific officer.
“This will accelerate preclinical assessment and ensure a robust clinical development plan is in place for our Porcupine and ROCK2 inhibitors for fibrosis."