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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
E-therapeutics Plc | LSE:ETX | London | Ordinary Share | GB00B2823H99 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.075 | 0.75% | 10.025 | 9.50 | 10.50 | 9.75 | 9.75 | 9.75 | 325,706 | 16:35:27 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Coml Physical, Biologcl Resh | 475k | -8.27M | -0.0142 | -6.87 | 56.92M |
E-THERAPEUTICS PLC
(“e-Therapeutics” or the “Company”)
e-Therapeutics plc (AIM: ETX): Upon the completion of Ray Barlow’s first three months as CEO of e-Therapeutics, the Company outlines below the conclusion of the strategic review for its investors and other stakeholders.
Ray Barlow, CEO of e-Therapeutics, said:
“Based on a detailed, systematic review of the business and its technologies, we are firmly of the view that we have created a unique and sophisticated computer-based drug discovery platform which is significantly more rapid and productive than other approaches available to the industry.
“Our network-driven view of biology and disease is gaining more and more attention in literature and the industry. Furthermore, results we have generated show that our approach has the potential to discover new and better drugs with potentially novel mechanisms of action (MoAs).
“While exercising keen cost control, we will continue to invest in the development of the platform and also carefully deploy our own resources to progress selected internal programmes. Our internal discovery efforts will now focus on our two novel, small molecule, immuno-oncology programmes in checkpoint signalling modulation and tryptophan breakdown (catabolism).
“Our business model is directed to external collaboration and partnership, including the out-licensing of our assets at a pre-clinical stage. We will now take our Hedgehog signalling modulation programme out to the industry.
“We can apply our approach to a range of complex diseases, and hope that our platform will be of interest to a range of traditional biopharmaceutical companies as well as to a new generation of companies looking to disrupt drug R&D. We believe there is potential to enter into several different types of collaborative partnerships and agreements to create sustainable mutual value.”
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
ADDITIONAL INFORMATION & BACKGROUND ON THE STRATEGIC REVIEW
A ‘root and branch’ review was undertaken by the CEO, including a panel composed of leading commercial and scientific experts working for (or with background in) big pharma (AstraZeneca, Pfizer and Merck & Co.) and successful biotechs (Piramed, Mission Therapeutics, Benevolent AI).
The various areas of the review with further information are summarised below:
Review confirms utility and productivity of e-Therapeutics’ network-driven drug discovery (NDD) platform in creating new and potentially better drugs
Review confirms market dynamics favourable towards e-Therapeutics’ approach, model and business plan – pharma industry is focusing more on a network view of genomics and disease
Review confirms two immuno-oncology programmes should be the focus for incremental investment
Review confirms utility of approach which enables e-Therapeutics to work in areas of biology with high unmet clinical and commercial need
Positive outcomes generated from programmes to date, encourage further investment in the platform
Cost control will be applied to maintain cash resources
Focus on business development
Further points of note
FURTHER DETAIL ON PROGRAMMES
Checkpoint signalling modulation
The aim of this programme is to create novel, small molecule disruptors of checkpoint signalling that can increase the anti-tumour activity of immune cells and directly overcome T-cell anergy and reverse T-cell exhaustion.
e-Therapeutics has identified compounds that are active in a panel of challenging orthogonal assays. The Company also appears to have novel MoA (not A2A or CTLA-4 or PD-1 antagonist). Whilst relatively early, this programme is in a rapidly developing space with high industry interest. The Company will continue to invest in this programme to build on the exciting and encouraging data it has generated to date.
Tryptophan Catabolism (degradation)
The aim of this programme is to create novel, small molecule agents that can reduce the catabolism (degradation) of tryptophan which, in turn, should prevent the suppression of T-cell responses in cancers as a monotherapy or in combination.
This programme has been highly productive, and the team has identified novel, picomolar potent, drug-like compounds with activity greater than agents currently in the clinic, such as epacadostat (Incyte), indoximod (New Link Genetics) and BMS-986205 (BMS/Flexus). In addition, data suggests that a novel MoA (not IDO or TDO inhibitors) has been found which will be explored further.
Hedgehog signalling modulation
The aim of this programme is to create novel, potent and selective Hedgehog pathway modulators with reduced tendency to induce SMO resistance and activity against tumours resistant to the existing agents vismodegib and sonidegib.
This programme has been a good validation of e-Therapeutics’ approach. The Company has identified molecules with single-digit nanomolar potency in cellular assays, some of which have no (or some limited) binding to SMO, superior efficacy in vismodegib-resistant cells and activity in a mouse xenograft model, equivalent or superior to the established agents. The Company will now take this programme out to the industry to see the level of interest as an out-licensed asset.
-Ends-
Notes to Editors
About e-Therapeutics plc
e-Therapeutics is an Oxford-based company with a unique and powerful computer-based drug discovery platform and a specialised approach to network biology.
Its novel methodology and Discovery Engine allow the Company to discover new and better drugs in a more efficient and effective way.
For more information about the Company, please visit www.etherapeutics.co.uk
This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors readers are cautioned not to rely on any forward-looking statement.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170723005014/en/
For further information, please contact:e-Therapeutics plcRay Barlow, CEOSteve Medlicott, Finance DirectorTel: +44 (0) 1993 883 125www.etherapeutics.co.ukorNumis Securities LimitedMichael Meade / Freddie Barnfield (Corporate Finance)James Black (Corporate Broking)Tel: +44 (0) 207 260 1000www.numis.comorInstinctif PartnersMelanie Toyne Sewell/Alex ShawTel: +44 (0) 207 457 2020Email: e-therapeutics@instinctif.com
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