Macclesfield’s Redx Pharma hires NY-based CFO

Macclesfield-based Redx Pharma plc, the drug development company focused on cancer and fibrosis, announced it appointed Peter Collum as chief financial officer (CFO).

Collum will start his role at Redx immediately and will be based in the New York area.

The firm said options over 1.5 million ordinary shares in the company have been granted to Collum with an exercise price of 65p per share.

Redx Pharma shares have soared more than 400% in the past 12 months to give it a current stock market value of around £170 million.

The firm’s biggest shareholder is San Francisco investment firm Redmile Group LLC with a 79.55% stake.

As previously announced, James Mead will make a transition from his current role of chief financial officer to a new role of chief operations officer (COO) at Redx, and will continue to be based in Alderley Park, Cheshire, at the company’s laboratories and head office.

Neither the COO nor the CFO will be directors of the company.

“Peter joins Redx from Pharnext SA, an advanced late-stage clinical biopharmaceutical company, where he has been chief financial officer and chief business officer since July 2019,” saidRedx.

“Prior to Pharnext, Peter spent over 17 years in healthcare investment banking, most recently as a partner at MTS Health Partners, a boutique healthcare investment bank in New York, where he led and participated in numerous M&A and financing deals for public and private life sciences companies both in the US and internationally.

“Prior to this, he worked in the healthcare investment banking group at Bank of America, with a focus on life sciences.

“Peter started his career in the pharmaceutical industry at Roche in US Technical Operations.

“He holds an MBA from the Booth School of Business at the University of Chicago and a BS from Rutgers University College of Engineering.”

Redx CEO Lisa Anson said: “We are delighted to welcome Peter to the Redx management team.

“This is an exciting stage of Redx’s development and growth as we continue to progress on lead assets in oncology and fibrosis.

“Peter’s extensive experience in the US and with US investors will be invaluable as we continue to deliver on our ambition towards becoming a leading biotech company with a robust pipeline of valuable, differentiated targeted medicines in areas of high unmet medical need.”

Collum said: “I am very pleased to be joining Redx at such an exciting time for the company.

“Over the past few years, Redx has made significant progress, both financially and operationally, and I look forward to working alongside its strong leadership team to deliver the next stage of growth.”