Redx Pharma inks $880m deal with Jazz Pharma; will bank $10m immediately

Redx Pharma PLC (AIM:REDX) said it is sellling its KRAS inhibitor programme to Nasdaq-listed Jazz Pharma Inc in a deal with a headline value of US$880 million. Under the terms of the transaction, Redx will receive an upfront US$10 million followed by US$870 million in development, regulatory, and sales milestone payments. It will also get royalties on any future sales. Its KRAS inhibitor programme targets one of the most challenging areas in cancer research. Mutations in the KRAS gene are prevalent across v ...