Highlights
Drug discovery activity renewed
• New wave of work begins using network pharmacology platform
• Focus on cancer and neurodegenerative diseases
• Platform gains further intellectual property protection (announced September)
Clinical development programmes advanced
• Four drugs prioritised, targeting cancer, infections and psychiatry
• Preparations on course for four trial starts in early 2012
• Extensive clinical data expected in 2012 and 2013
Business evolving to meet new challenges
• Development programmes reviewed and revised by new Development Director Steve Self Daniel Elger joins as CFO, bringing added biotech, oncology and commercial experience
• First scientists hired for new network pharmacology discovery unit at Oxford
Balance sheet strengthened
• Equity placing raises net £16.7 million to invest in discovery and development Loan debt of £1.0 million repaid
• Cash and liquid resources of £15.3 million at 31 July 2011 (31 July 2010: £1.8 million; 31 Jan 2011: £0.9 million)
• Half-year net loss of £1.5 million (2010: loss of £1.0 million) reflects investment in business
Commenting on the Results, Professor Malcolm Young, CEO of e-Therapeutics, said: “We now have the funds we need to advance our clinical-stage drugs through key milestones and to generate new drug candidates using our unique discovery platform in network pharmacology. e-Therapeutics has never been in a stronger position from which to create value for shareholders.”
For more information, please contact:
e-Therapeutics plc
Malcolm Young, CEO
Daniel Elger, CFO
Tel: +44 (0) 7909 915 068
www.etherapeutics.co.uk
Panmure Gordon (UK) Limited
Andrew Burnett / Aubrey Powell
Tel: +44 (0) 20 7459 3600
www.panmure.com
College Hill
Melanie Toyne Sewell/Jayne Crook
Tel: +44 (0) 20 7457 2020
Email: e-therapeutics@collegehill.com
