Liverpool early stage drug development company, Redx Pharma has received £4.7m of regional growth fund money.
The University of Liverpool based firm will use the money to fund an initial two-year pre-clinical phase of a five year research and development project which looks are new treatments for microbial infection as well as anti-viral therapies for conditions such as influenza, hepatitis C and HIV for progression to human clinical trials.
119 skilled jobs will be created by the research project, dealing with chemistry, biochemistry and analytical testing, along with a further 28 specialist jobs across the supply chain.
On a visit to Redx Pharma this week, Vince Cable said: “The Regional Growth Fund is creating the long-term growth and jobs that Liverpool and the North West needs. Every project supports important local priorities and there is a good alignment with key sectors in our Industrial Strategy including automotive, aerospace and life sciences as illustrated here today at Redx Pharma.
“Redx Pharma’s previous award from round two has already helped them establish an impressive oncology research centre and has created over 50 new jobs since April this year. I look forward to seeing the progress of the vital drugs research that they are carrying out which will maintain the UK’s competitiveness within the life sciences industry and deliver benefits for patients.”
Dr Neil Murray, CEO from Redx Pharma added: “We are delighted to have been awarded a second grant from the Regional Growth Fund. Their support is critical in enabling Redx to create a sustainable business and adapt to the rapidly-changing R&D landscape in the pharmaceutical industry. We have strong partners in Liverpool in the City, the NHS and the Universities and we look forward to working with them as we take our infectious disease business forwards.
“The World Health Organisation has identified drug resistance, particularly in the area of anti-biotics, as one of the most pressing human health concerns globally. We believe that the fresh thinking and original approach that we apply will create effective solutions, generating new therapies that will benefit patients worldwide.”
Earlier last month, Redx pharma secured a licence agreement with India’s Dishman Pharmaceuticals & Chemicals to use Redx technology for development of prescription drugs.