Redag created as new UK agchem company
UK-based biotechnology company Redx (Liverpool, Merseyside) has demerged its agrochemical business from its pharmaceutical operations. The move sees the establishment of a new standalone company, Redag Crop Protection (Alderley Park, Cheshire). Redag was established two years ago as a subsidiary of Redx. Redag uses its prorietary Redox Switch platform to adapt existing crop protection products to create novel intellectual property. It aims to achieve revenues by entering into licensing and development agreements with agrochemical companies for the most promising compounds. “Our approach will help secure fast and efficient access to an extensive pipeline of new candidates at lower cost,” says Redag chief executive officer Bill Thompson.