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C4X says drug discovery alliance with Evotec will help reduce operational costs

Clive Dix, chief executive at C4X Discovery Holdings (LON:C4XD) talks to Proactive Investors after the AIM-listed pharma firm  entered into a multi-target, risk-sharing alliance with Germany's Evotec AG with whom the company already had a collaboration agreement.

"We have moved a step closer to a partnership. We now get a much  deal in terms of the costs of what we do with them. For that they get a small level of ownership" he explains, adding the alliance will see a minimum of three projects active at any point in time.

Dix also commented on the £5mln fund raise the company recently completed.

"That will help fund the programmes we are currently running," he says, "when we get these programmes running with Evotec, we will have eight moving at a rate that will surprise people when we announce the next milestone. We are very excited. We expect within the next year to move some of these programmes significantly".

Quick facts: C4X Discovery Holdings PLC

Price: 18 GBX

AIM:C4XD
Market: AIM
Market Cap: £21.46 m
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