e-Therapeutics Strategic Prioritization On Discovery Platform And Commercialisation

OXFORD & NEWCASTLE, England--(BUSINESS WIRE)--e-Therapeutics plc (AIM:ETX), the drug discovery and development company, announces its full year results for the year ended 31 January 2016.

“This has been a very productive year for our discovery platform which continues to exceed our expectations by generating high quality, potent compounds. Some of these programmes have the potential to be game changers in immuno-oncology, cancer drug-resistance and anti-infection.”

Operational highlights

• Highly productive discovery platform
  • Strategic focus for the business, now fully developed and generating many potent compounds
  • 12 active projects (FY15: 6) and three projects in lead optimisation (FY15: nil)
• ETS6103 – detailed update on analysis of Phase IIb trial results
  • Confirmed antidepressant activity for SSRI non-responders
  • Fewer side effects and better tolerance profile than current post-SSRI treatment
• ETS2101 – refocus from infused form to explore oral form
  • Early phase experimental clinical trials completed
  • New data suggests potential for compound when given without a steroid pre-med
• Board changes – appointment of Professor Trevor Jones as Non-Executive Director and Iain Ross as Non-Executive Chairman
• Prioritisation of asset commercialisation – progressing more projects from discovery platform and seeking partners for assets

Financial highlights

• Net cash at £24.8m (FY15: £33.8m)
• Operating loss of £11.6m (FY15: loss of £10.2m)
• R&D tax credit of £2.5m (FY15: £2.0m)
• Discovery spend was £4.3m (FY15: £2.7m) due to the increase in number of active projects

Professor Malcolm Young, CEO of e-Therapeutics, said:

“This has been a very productive year for our discovery platform which continues to exceed our expectations by generating high quality, potent compounds. Some of these programmes have the potential to be game changers in immuno-oncology, cancer drug-resistance and anti-infection.

“Detailed analysis of the Phase IIb clinical data for ETS6103 has confirmed its effectiveness as an anti-depressant for patients who have not responded to an SSRI. Early stage exploratory clinical trials on ETS2101 have established an acceptable dose for this product candidate and important information concerning the potential route of administration.

“Our main priorities are to drive the productivity of the discovery platform further and realise shareholder value through the commercialisation of our assets. We maintain a healthy cash position in support of our strategy.”

For the full release, please visit the Company website at www.etherapeutics.co.uk.

About e-Therapeutics plc

e-Therapeutics (AIM: ETX) is a drug discovery and development company with a proprietary discovery platform based on advances in network pharmacology and chemical biology.

The Company is applying its platform to the discovery of new drug candidates. The therapeutic focus of the Company’s discovery activity is in immuno-oncology, addressing drug resistance to targeted cancer therapies, and antivirals. The platform is yielding multiple, highly potent, selective and diverse molecules at much higher yields than is reported for conventional drug discovery.

The Company has generated a variety of preclinical stage assets, including ETX1153c, a functionally resistance-less antibiotic; ETS2300, telomerase inhibition in anti-cancer; ETS3100, small molecule anti-TNFa; ETS2400, in Hedgehog pathway inhibition; and ETS5200, novel broad-spectrum antivirals.

e-Therapeutics has also advanced selected drug candidates into clinical trials. A Phase IIb study of a drug candidate for major depressive disorder, ETS6103 is complete, plus Phase I clinical trials in cancer for ETS2101.

The Company is well funded to advance its programmes. It is based at sites in Oxford and Newcastle, UK. For more information about the Company, please visit www.etherapeutics.co.uk