The early stage drug development company Redx Pharma has announced a license agreement that will allow Dishman Pharmaceuticals & Chemicals to use process technology patented by the Liverpool-based firm.
The deal will see Dishman, which is listed on the Mumbai stock exchange and is a global supplier to the pharmaceutical industry, employ the Redx technology for the synthesis of statins, one of the world’s best selling classes of prescription drugs.
Financial terms were not disclosed but it is anticipated that the deal will generate multi-million dollar revenues for both companies.
Dr Neil Murray, chief executive of Redx Pharma, commented: “This collaboration will create substantial revenues from our intellectual property portfolio and is the first of many deals we look forward to announcing. We are delighted to work with Dishman and pleased to have reached this agreement.”
“We are delighted to be able to offer our customers access to Redx Pharma’s technology and thus create opportunities for the pharmaceutical companies we serve.” commented Christian Dowdeswell, Commercial Director Dishman Group.
Dowdeswell continued, “This deal fits very neatly into Dishman Group’s core principle of investment and innovation and ensures that we can continue to offer high value, high quality products to our customers into the future.”
Redx Pharma is developing a portfolio of new drug candidates across multiple therapeutic areas. These new medicines offer patient benefits that include greater efficacy and fewer side effects.
The drug development programmes are characterized by demonstrably lower risk and greater speed into development - and create licensing opportunities for large pharma companies.
Earlier this year Redx launched its first spin out business, Redx Oncology, and is presently planning a second, Redx Anti-Infectives.
As a global partner for pharmaceutical companies, Dishman has a portfolio of products and development, scale-up and manufacturing services.