Skye Bioscience to acquire Redx Pharma in $125M financing-backed transaction
What's the deal? Skye BioscienceDealroom has a profile for this one. Try Dealroom → will acquire UK-based Redx Pharma via a scheme of arrangement under the UK Companies Act 2006, the companies said on August 14, 2026. The combined firm will trade on Nasdaq as Fibrx TherapeuticsDealroom has a profile for this one. Try Dealroom → and be led by Redx's current management team and board. The deal is backed by roughly $125 million in concurrent financings and is expected to close in Q4 2026.
What each side brings: Redx is a privately held, clinical-stage biotech developing small-molecule medicines for fibrotic disease. Skye is a Nasdaq-listed company that provides the public listing and financing structure for the combination.
What's the endgame? Fibrx will focus on fibrosis, with its lead program RXC008 — Redx's GI-restricted pan-ROCK inhibitor for fibrostenotic Crohn's disease. The drug has an open US IND, FDA Fast Track designation, and a planned Phase 2 study, with topline data expected in the second half of 2028.
Follow the money: The $125 million comes in several parts. A roughly $68 million PIPE financing, led by investors including AbingworthDealroom has a profile for this one. Try Dealroom →, British Business Bank, NEXTBio CapitalDealroom has a profile for this one. Try Dealroom →, 5AM VenturesDealroom has a profile for this one. Try Dealroom →, and existing Redx shareholder RedmileDealroom has a profile for this one. Try Dealroom →, is set to close immediately after the transaction.
Separately, Redx signed a $36 million Series A led by Abingworth, with British Business Bank and Redmile, expected to close within days subject to Redx shareholder approval. Skye also agreed a committed equity line facility of up to $22 million with a Redmile-affiliated fund, and will issue Redmile a warrant valued at $5 million at closing.
Why now? Both boards have unanimously approved the deal, and certain shareholders have signed voting and support agreements. The combined cash balance is expected to fund operations into 2029 and through the RXC008 Phase 2 topline readout.
What could go wrong? Completion remains subject to closing conditions and shareholder approvals. The Series A hinges on a Redx shareholder vote, and the Phase 2 program still carries clinical risk ahead of 2028 data.
The signal: The transaction is a reverse-merger route to public markets for a private biotech, pairing Redx's fibrosis pipeline with Skye's Nasdaq listing and a fresh capital stack aimed squarely at a single lead asset through mid-stage data.
Read more: finanznachrichten.de
Image credit: jurvetson
