C4X Discovery Holdings plc (LON:C4XD) confirmed it is in confidential discussions with “multiple” potential partners for a promising drug programme.
Its NRF-2 activator could help treat chronic obstructive pulmonary disease and pulmonary arterial hypertension as well as sickle cell disease.
“Having launched a partnering process for our NRF-2 programme, we are now in licensing discussions with pharmaceutical partners to take forward our lead series to clinical development,” chief executive Clive Dix, in commentary accompanying the company’s interim results.
C4X’s stated aim is to become the world’s most productive drug discovery engine.
To achieve this goal it is using cutting-edge technologies and expertise to efficiently deliver small-molecule (pharmaceutical) medicines.
Pre-clinical phase companies
Unlike many drug companies, it looks to find partners at the pre-clinical phase, allowing big pharma to fund expensive human trials.
Last year it successfully out-licensed its programme for addictive disorders to Indivior, receiving an upfront £7.7mln (US$10mln) and milestones of £227mln (US$294mln).
It is working on potential treatments for Parkinson’s, Alzheimer’s and inflammatory bowel disorders and it has numerous collaboration deals.
“We are also excited to enter new partnerships with LifeArc, GTN, and Horizon which have enabled us to augment our discovery engine with technologies at the cutting-edge of drug discovery and accelerate the growth of our portfolio by accessing highly attractive earlier-stage therapeutic targets and chemistry,” said CEO Dix.
As is common with companies working in early-stage drug discovery, C4X was loss-making for the six months ended January 31. The deficit was £5mln, but in the period it invested £4.9mln in its R&D pipeline.
A more instructive benchmark for businesses of this ilk is cash in the bank, which was £9.2mln at the period-end following a £10.1mln fundraise last October. Its net assets are valued at £12.8mln.