Cresset and Redx Pharma announce Major Drug Discovery Collaboration

Welwyn Garden City, UK (24^th Aug 2011) – Cresset and Redx Pharma are pleased to announce that they have signed a major drug discovery collaboration. The collaboration gives Redx Pharma access to Cresset’s publicly available and proprietary computational chemistry technologies for use on their portfolio of drug discovery programs. In addition Cresset will provide consulting services in the area of candidate selection across a broad range of therapeutic areas and targets.

Rob Scoffin, CEO of Cresset said, “Cresset has developed an extensive range of consulting services around the critical areas of library design, compound design, virtual screening and lead optimization. In this case we will initially be focussing our skills on helping Redx with their lead candidate selection process, whilst the collaboration also gives Redx the ability to access our expertise, in a very flexible manner, across the full range of computational Drug Discovery services.”

“Cresset is a valuable partner in our Drug Discovery programs”, commented Dr Neil Murray, CEO of Redx Pharma, “Their deep knowledge of computational chemistry and its application to drug discovery is enabling us to progress multiple projects across a wide range of target classes very quickly and cost-effectively”.

The Redx programs make use of a number of Cresset’s computational chemistry tools. In particular FieldTemplater and FieldAlign are used respectively to provide binding hypotheses and predictions of likely biological similarity for sets of molecules in various lead series.

About Cresset Group Ltd

Cresset develops software for calculating and comparing the molecular Field characteristics of chemical compounds. Field technology uses the surface properties of molecules to evaluate their activities and properties, rather than relying on 2D structure similarity, which enables Cresset’s users to find more interesting, novel and relevant results than other methods. Cresset’s Fields provide a smarter, structure independent way of hit-finding, lead switching and lead optimization in drug discovery and other chemistry-based research projects. Cresset’s field technologies have been successfully applied to a very wide range of target classes, with and without structural information, on over 100 projects for major pharmaceutical and biotechnology companies.

About Redx Pharma Ltd

Redx Pharma’s Redox Switch approach is being used to generate improved versions of existing drugs with patient benefits including greater efficacy, fewer side effects and better ease of use.  The company’s pre-clinical drug pipeline has lead programmes for indications including cardiovascular, antibiotics, influenza and neuropathic pain.  Redx’s IP portfolio includes additional programmes in cancer, diabetes, immune disease and a range of central nervous system (CNS) disorders.  The Redox Switch technology was invented by Redx Pharma founders Dr. Peter Jackson and Dr. Derek Lindsay. Redx forerunner company Bradford Pharma was established in mid-2005, commenced operations at MerseyBio in mid-2007 and became Redx Pharma in late 2010. See: www.redxpharma.com