REDX PHARMA LIMITED

• ⚠

  Insolvency history on file

  Companies House holds prior insolvency events for this company. Detail and outcome on the official register.

• ⚠

  Material uncertainty over going concern

  Based on these conditions, the Group has concluded that the need to raise further capital and the potential need to repay the convertible loan notes represent material uncertainties related to events or conditions that may cast significant doubt as to the Group and Parent Company's ability to continue as a going concern.

1. REDX PHARMA LIMITED 2024-05-09 → present
2. REDX PHARMA PLC 2015-03-18 → 2024-05-09
3. REDX PHARMA LIMITED 2010-09-07 → 2015-03-18

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on these conditions, the Group has concluded that the need to raise further capital and the potential need to repay the convertible loan notes represent material uncertainties related to events or conditions that may cast significant doubt as to the Group and Parent Company's ability to continue as a going concern.”

Group structure

1. REDX PHARMA LIMITED · parent
   1. Redx Oncology Limited 100% · England & Wales · Pre-clinical drug development licensing
   2. Redx Immunology Limited 100% · England & Wales · Pre-clinical drug development licensing
   3. Redx Inc 100% · United States · Management services

Significant events

• “Redx entered a significant partnership with Jazz Pharmaceuticals Ireland Limited ("Jazz") to acquire global rights to its KRAS inhibitor program, receiving $10 million upfront.”
• “The Board's decision to delist from AIM with effect from 1 May 2024 and subsequently re-register as a private limited company.”
• “The Board closed an equity fundraise of £5 million (gross), through the issue of a new class of A1 ordinary shares with certain preference rights, to its largest shareholder, Redmile group.”
• “An equity fundraise of £14.1 million (gross) was successfully closed in Q4 2023.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +221.7%

  £4,202,000 → £13,516,000

• Cash

  +2.6%

  £18,092,000 → £18,557,000

• Net assets

  +117.1%

  £3,355,000 → £7,283,000

• Employees

  -26.7%

  101 → 74

• Operating profit

  +47%

  -£33,820,000 → -£17,930,000

• Profit before tax

  +47.9%

  -£32,788,000 → -£17,090,000

• Wages

  -2%

  £6,451,000 → £6,324,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers