A company developing a drug candidate found by AIM-listed C4X Discovery Holdings PLC (LON:C4XD) is to receive US funding for the next phase of its development.
Indivior (LON:INDV), which specialises in opioid addiction treatments, has been awarded a HEAL grant by the National Institutes of Health (NIH)
The award will fund a phase I trial of Orexin-1 along with the toxicology and drug metabolism studies needed to start a phase II assessment.
The NIH launched the Helping to End Addiction Long-term initiative last April to help improve prevention and treatment strategies for opioid misuse.
C4XD chief executive Clive Dix said he was “thrilled” Indivior had received the NIH backing.
“The support of NIH HEAL through this award not only validates our scientific expertise in Drug Discovery, but also our commercial strategy of out-licensing,” he added.
For C4XD, the focus currently is on finding a partner for its next molecule, NRF-2, for the treatment of sickle cell disease as well as “rapidly advancing” its drug discovery programmes.
“We believe that C4XD is building a credible and highly valuable portfolio of candidates for out-licensing to the pharma industry," CEO Dix said.
The company's shares were up 15% in afternoon trade.