Antibody specialist Jounce Therapeutics Inc. and Redx Pharma plc are to merge in an all-share transaction with a value of $425 million, in a deal that will see Redx’s small-molecule cancer and fibrosis drugs absorbing the lion’s share of the combined cash and its shareholders owning 63% of the combined company.
DUBLIN – Redx Pharma plc has put together a rescue package with two heavyweight investors that should ensure the company’s immediate future. Redmile Group LLC and Sofinnova Partners plan to provide up to £26.3 million (US$33.6 million) in funding to the struggling drug discovery and development firm.