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C4X Discovery clinches landmark US$294mln licence deal with Indivior for addiction treatment

It is the first major partnership for the AIM-listed group, which will receive US$10mln up front

Cravings and addiction are targeted by C4X's treatment

Drug discovery platform developer C4X Discovery Holdings plc (LON:C4XD) has licensed its addiction behaviour suppressant, C4X3256, to FTSE 250-listed Indivior in a deal worth up to US$294mln.

It is the first major partnership for the AIM-listed group, which will receive US$10mln up front and a further US$284mln dependent on how successful the drug proves.

READ: C4X Discovery expects “significant progress” in 2018 as it looks for a partner to take its addiction drug through the clinic

Markets had been waiting for C4X to agree a sizeable licensing deal and Clive Dix, chief executive, said the Indivior agreement validates both its strategy and its drug discovery platform.

In particular, it highlighted how C4X’s drug discovery engine “can generate best-in-class small-molecule candidates in high-value therapeutic areas”.

Taken orally, C4X3256 is seen as a new way of treating addiction and related disorders as it targets only the brain’s Orexin-1 receptor, which is considered central to a person’s craving and reward pathways. 

Through the licence, Indivior receives global and exclusive rights to C4X3256 and all other compounds in the same patent family.

WATCH: C4X Discovery 'turns engine right over' with landmark Indivior deal

In return, it will carry all of the costs for its future development.

The agreement covers the development of Orexin-1 antagonists for multiple indications, said C4X.

Dix added: “This agreement will allow us to accelerate the development of our portfolio to similar successful commercial arrangements."

Quick facts: C4X Discovery Holdings PLC

Price: 15.6 GBX

Market: AIM
Market Cap: £18.6 m

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