Skye Bioscience to acquire Redx Pharma, rebrand as Fibrx Therapeutics on Nasdaq
SKYE•Skye Bioscience to acquire Redx Pharma
Skye Bioscience will acquire Redx Pharma, creating a combined Nasdaq-listed fibrosis developer to operate as Fibrx Therapeutics.
The transaction includes about $125 million in committed financings, including a $68 million PIPE and a $36 million Series A.
Ownership, financing and closing details
Redmile will provide an equity line facility of up to $22 million, tied to the PIPE, with a $5 million warrant.
Closing is expected in Q4 2026. Redx management will lead the combined company, which will be headquartered in Alderley Park, UK.
Pro forma ownership is expected to be 5.38% for Skye holders, 46.17% for Redx holders and 48.45% for financing investors. Skye holders will receive CVRs tied to nimacimab monetization.
