Skye Bioscience and Redx Pharma combine to form Fibrx Therapeutics with $125M financing for fibrosis pipeline

Skye Bioscience announced a combination with privately held Redx Pharma, creating a new public company called Fibrx Therapeutics.

The transaction is structured as a reverse merger and provides $125 million in financing, giving the combined firm runway into 2029.

Fibrx will focus on advancing Redx’s fibrosis assets, including lead candidate RXC008, a GI-restricted pan-ROCK inhibitor for fibrostenotic Crohn’s disease, which is slated to start a Phase 2 trial.

Topline data from the Phase 2 study are expected in the second half of 2028, and the company plans to list on Nasdaq after the deal closes.