e-Therapeutics plc Announces Full Year Results
March 31 2015 - 02:14AM
Business Wire
Four Clinical Trials and Striking Results
from Discovery Engine
e-Therapeutics plc (AIM:ETX), the drug discovery and development
company, today announces its full year results for the year ended
31 January 2015.
Operational highlights
- ETS2101 currently in three
separate clinical studies, internationally
- UK Phase Ia study in cancer established
maximum tolerated dose, safe and tolerated
- US brain cancer trial ongoing and
preliminary results anticipated in Q2 2015
- UK Phase Ib study in pancreatic and
hepatocellular cancers to start mid-April 2015 across 15 locations
in four countries
- ETS6103 Phase IIb trial for
major depressive disorder; completion expected in H2 2015
- ETX1153c Potential opportunities
being explored
- Discovery platform achieving
striking productivity
- Molecule selection and testing, up to
2,200 molecules across six discovery projects(31 January 2014: 100
molecules)
- Data suggesting circa 20% of screened
compounds are active
- Yields three orders of magnitude better
than published rates for conventional drug discovery
- Intention for 2015, to analyse ten or
more discovery projects and undertake in vitro testing of many
thousand molecules
- Directorate changes: Chairman,
Professor Oliver James retired, Steve Medlicott appointed CFO and
Sean Nicolson appointed as Executive Director. Malcolm Young took
on the role of acting Chairman
Financial highlights
- Cash and liquid resources at £33.8
million (31 January 2014: £43.1 million) reflecting increasing
levels of research spend
- Loss before tax of £9.8 million (31
January 2014: loss £6.1 million)
- Anticipated R&D tax credit worth
£2.0 million (31 January 2014: £1.1 million), due to increases in
both R&D spend and the claimable rate of the R&D tax
credit
Professor Malcolm Young, CEO of e-Therapeutics, said:
“The past 12 months have seen a strong acceleration of progress,
both clinically and in discovery.
“In the clinic, we have had four clinical trials ongoing in
Europe and the US. We have had positive dosing and safety results
for our lead product, ETS2101 and we are moving into the next phase
of testing in two cancer indications. We have also seen good
progress with ETS6103 and anticipate the completion of its phase
IIb later this year.
“Most exciting has been the striking productivity of our drug
discovery engine. The investment and enhancements we have made over
the past two years are paying dividends, not only with the number
of molecules we can now screen, but in the groundbreaking yields we
are observing. We have a wealth of active molecules to choose from
to take forward into development.
“The combination of these successes in 2014/15 with a strong
balance sheet heralds another twelve months of major advancement
and progress.”
For the full release, please visit the company website at
www.etherapeutics.co.uk.
About e-Therapeutics
e-Therapeutics is an AIM-quoted biotechnology company with a
proprietary platform in network pharmacology, an innovative new
approach to drug discovery based on advances in network science and
chemical biology. The Company’s discovery and development activity
is focused in cancer and disorders of the nervous system.
e-Therapeutics is based at sites in Oxford and Newcastle, UK. For
more information about the Company please visit
www.etherapeutics.co.uk.
e-Therapeutics plcMalcolm Young, CEO / Steve Medlicott,
Finance DirectorTel: +44 (0)1993 883
125www.etherapeutics.co.ukorN+1 SingerAubrey Powell / Jen
BoorerTel: +44 (0) 20 7496 3000www.n1singer.comorInstinctif
PartnersMelanie Toyne Sewell / Emma BarlowTel: +44 (0) 20 7457
2020e-therapeutics@instinctif.com
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