C4X Discovery Holdings PLC Business Update (7901P)

TIDMC4XD

RNS Number : 7901P

C4X Discovery Holdings PLC

05 September 2017

C4X Discovery Holdings plc

("C4XD", "C4X Discovery" or the "Company")

Business Update

5 September 2017 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering drug discovery company, today provides an update on the Drug Discovery Engine and portfolio progress.

The company has continued to make progress towards its aim of becoming the world's most productive drug discovery engine by exploiting cutting edge technologies to design and create best-in-class small-molecule candidates targeting a range of high value therapeutic areas.

Key drug discovery programmes in addiction and inflammation have advanced and our Taxonomy3(R) DNA-based target discovery technology is producing novel target data in a number of commercially valuable disease areas. These targets can be addressed through our drug design platform including our Conformetrix and Molplex chemistry technologies and we are in discussions with a number of potential pharmaceutical partners which we anticipate will result in a deal in line with our previously announced expectations.

Dr Clive Dix, CEO of C4X Discovery, said: "We continue to develop the data package around our most advanced drug candidate, an Orexin-1 antagonist aimed at treating addiction, and have recently completed a study in cocaine-induced brain dopamine elevation. Combined with our already compelling pre-clinical data package around nicotine addiction, we are confident that our lead programme represents a highly attractive prospect for partnering with pharma and the initial discussions are progressing as we had hoped.

"We are also increasingly seeing the power of our drug discovery engine with exciting new targets identified in inflammation and neurodegenerative diseases. These open new opportunities to develop valuable new discovery programmes and early-stage revenue-generating deals with the pharmaceutical industry."

--ENDS-

For further information, please contact:

C4X Discovery Holdings plc

Clive Dix, Chief Executive Officer 07801 865 803

Panmure Gordon (UK) Limited (NOMAD) 020 7886 2500

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Consilium Strategic Communications

Mary-Jane Elliott, Matthew Neal, Melissa Gardiner 0203 709 5700

About C4X Discovery

C4X Discovery aims to become the world's most productive drug discovery engine by exploiting cutting edge technologies to design and create best-in-class small-molecule candidates targeting a range of high value therapeutic areas. The company's goal is to drive returns through early-stage revenue-generating deals with the pharmaceutical industry.

C4X Discovery has a state-of-the-art suite of proprietary technologies across the drug discovery process. The company's innovative DNA-based target identification platform (Taxonomy3(R)) utilises human genetic datasets to identify novel patient-specific targets leading to greater discovery productivity and increased probability of clinical success. This is complemented by C4XD's novel drug design platform which comprises two innovative chemistry technologies, Conformetrix and Molplex, that combine 4D molecular shape analyses (based on experimental data) with best-in-class computational chemistry. This provides new and unprecedented insight into the behaviour of drug molecules, enabling the production of potent selective compounds faster and more cost effectively than the industry standard.

C4X Discovery is advancing its in-house pipeline in addiction, diabetes and inflammation with a number of new drug candidates identified and further progress made towards the clinic. In selecting new targets C4X Discovery will focus on the high-value disease areas of inflammation and neurodegeneration, and will continue to maximise value from opportunistic areas, for example, immuno-oncology, addiction, and diabetes.

The Company was founded as a spin-out from the University of Manchester. It has a highly experienced management team and Board who have delivered significant value creation within the healthcare sector historically and have enabled C4XD to reach multiple value inflexion points since IPO. For additional information please go to: www.c4xdiscovery.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 05, 2017 02:00 ET (06:00 GMT)