viewe-Therapeutics PLC

e-Therapeutics eyes further partnerships and possibly M&A to fully exploit its potential

Its most significant landmark of the year just gone was a collaboration with Danish multi-national Novo Nordisk focusing on type-2 diabetes

The company is at the forefront of network-driven drug discovery

e-Therapeutics PLC’s (LON:ETX) annual results revealed a year of significant progress exploiting the potential of its network-driven drug discovery, including its first commercial research collaboration.

That particular tie-up, with the Danish multi-national Novo Nordisk focusing on type-2 diabetes, provided “important validation” of its technology, the company said.

It added that business development activities continued with “a number of discussions progressing on a range of revenue-generating and value-creating deals”.

READ: Danish drugs giant Novo Nordisk to use e-Therapeutics’ technology in searchfor new diabetes treatments

Interestingly, chairman Iain Ross said his team was looking at “alternative sources of funding”, broader industry partnerships and potentially M&A deals “in order to fully exploit all [e-Therapeutics’] assets and capabilities”.

The life sciences group said the current partnerships with companies such as C4X Discovery, Biorelate and Intellegens were “delivering”. Meanwhile, in-house work on patient work in breast cancer has yielded “promising results”.

In common with most businesses at this formative stage of development, e-Therapeutics was loss-making. It posted a £5.1mln operating deficit for the 12 months to the end of January as it burned £3.7mln in cash. More importantly, it was sitting on funds of £5.9mln as at the year-end.

“In executing our plans, we have managed our cash and resources carefully to nurture our core business and to enable us to continue to offer a range of assets and capabilities to the industry,” said chief executive Ray Barlow.

“We remain focused on our extensive business development efforts and are in a number of detailed discussions with potential partners.

“Confident in the broad versatility and utility of the NDD platform, we remain focused on translating this into value for our shareholders."

Quick facts: e-Therapeutics PLC

Price: 14.25 GBX

Market: AIM
Market Cap: £595.06 k

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