February 28, 2020 / 6:37 PM / a month ago

BRIEF-Redx Says Redmile, Sofinnova To Provide Up To £26.3 Mln Funding To Co

Feb 28 (Reuters) - Redx Pharma PLC:

* REDX PHARMA - REDMILE GROUP HAS CONFIRMED TO BOARD THAT IT, TOGETHER WITH SOFINNOVA , WILL PROVIDE UP TO £26.3 MILLION OF FUNDING TO CO

* REDX PHARMA PLC - REDMILE AGREED TO SUBSCRIBE FOR 11.5 MILLION NEW ORDINARY SHARES AT 11.2 PENCE PER SHARE

* REDX PHARMA PLC - IN ADDITION, REDMILE WILL PROVIDE REDX WITH £5 MILLION OF SHORT-TERM DEBT FUNDING

* REDX - REDMILE AND SOFINNOVA PARTNERS INTEND TO COMMIT FURTHER INVESTMENT INTO CO WHICH IS EXPECTED TO TAKE FORM OF A C.£20 MILLION CONVERTIBLE LOAN Source text for Eikon: Further company coverage:

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