- A new collaboration between AstraZeneca and RedX Pharma will combine AZ’s broad strategic approach to developing novel cancer therapies and RedX’s early-stage drug discovery capabilities.
- RedX will receive an upfront payment and also be eligible for milestone payments, as well as tiered royalties as the program progresses.
- AstraZeneca (AZ) will retain the sole right to develop and commercialize any programs resulting from the research collaboration.
One important aspect of this agreement is that it will allow scientists from AZ and RedX Labs to work together physically. Because the scientists will all be housed at the BioHub in Alderly Park in Cheshire, and also work together at RedX’s Liverpool location, they will have the opportunity for face-to-face meetings, boding well for productive R&D activity.
AZ's Susan Galbraith hailed the drug development potential of its consolidated facilities. "This collaboration demonstrates the value of the BioHub and the open, collaborative environment that has been created at Alderley Park," she said in a statement.