On the back of signing its first out-licensing deal, Roquefort Therapeutics PLC (LSE:ROQ, OTCQB:ROQAF) said it is also "engaging with multiple big pharma partners" interested in its siRNA programmes in immunology and inflammation.
Also known as gene silencing, siRNA, or small interfering RNA, and is a field of research that has attracted a lot of attention industrywide with some big deals inked for early-stage assets.
In an update alongside interim results, Roquefort said the focus going forward will be finalising its first deal with the contract research group PDC, worth an initial $10 million.
CEO Ajan Reginald told investors: "During the first half of the year we continued with our strategy to select novel medicines in high-value pharmaceutical markets and developed them to deliver the results required to attract big pharma partners.
"This culminated in Roquefort Therapeutics announcing the signing of a term sheet for our first therapeutic licensing deal with PDC, whilst also engaging with multiple Big Pharma partners regarding our siRNA programmes in immunology and inflammation."
For the six months ended June 30, Roquefort posted a net loss of £596,547 and exited the period with £595,662 on the balance sheet.