On March 30, 2018 Redx Pharma reported that it has been awarded aUS$1 million grant by CARB-X, one of the world’s largest public-private partnerships, launched in July 2016 to accelerate global antibacterial innovation and research (Press release, Redx Pharma, MAR 30, 2017, View Source [SID1234524747]). The 11 successful projects were selected through a competitive process from 168 applications from around the world. The awarded grants were based on the merits of each of the company’s research proposals, as evaluated by the CARB-X Advisory Board and the CARB-X team.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Today’s announcement by CARB-X showcases the first projects selected for the Powered byCARB-X portfolio, spotlighting Redx as a highly-respected partner of choice on a global stage. Redx will receive US$1 million over 18 months, with an option for future tiered milestone payments, to drive scientific progress against globally challenging drug resistant Gram-negativebacteria. This collaboration with CARB-X enables Redx to move its Gram-negative program into the next stage of development with a prospective partner.
Dr Neil Murray, Chief Executive Officer of Redx Pharma, said: We are delighted to be collaborating with CARB-X, a truly innovative initiative that is targeting the development of new life-saving antibacterials and diagnostics. Receiving this grant today is testament to the great science that exists at Redx. This grant cements a path forward for our recently announced strategy, to secure external partners to ensure that our high quality anti-infective science will continue whilst we sharpen our focus on the clinical development of our oncology and immunology programs.