31 March 2015: 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.”
Issued for and on behalf of e-Therapeutics by Instinctif Partners.
For the full release, please visit the company website at www.etherapeutics.co.uk and for more information please contact:
e-Therapeutics plc
Malcolm Young, CEO
Steve Medlicott, Finance Director
Tel: +44 (0)1993 883 125
www.etherapeutics.co.uk
N+1 Singer
Aubrey Powell / Jen Boorer
Tel: +44 (0) 20 7496 3000
www.n1singer.com
Instinctif Partners
Melanie Toyne Sewell / Emma Barlow
Tel: +44 (0) 20 7457 2020
Email: e-therapeutics@instinctif.com
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