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C4X Discovery “very confident” of delivering deals in the near future

In a business update it said it is in licensing discussions with potential partners for two of its early-stage drugs

C4X Discovery Holdings plc - C4X Discovery Holdings PLC said it is “very confident” of delivering deals in the near future

C4X Discovery Holdings plc (LON:C4XD) said it is “very confident” of delivering deals in the near future.

In a business update it said it is in licensing discussions with potential partners for two of its early-stage drugs, while collaborations with two life sciences groups are making progress.

Chief executive Clive Dix said its NRF-2 activator had the potential to become an alternative treatment for people poorly served by the current sickle cell medication.

This is supported by recent industry data on the condition. “This new data supplements learnings from our early discussions and increases our confidence towards a sickle-cell disease focused out-licensing,” said Dix.

In the update, C4X also noted there had been “strong interest from potential partners” for its oral IL-17 inhibitor for inflammation.

Its partnership with LifeArc, announced just under a year ago, is also proving a success.

“In initial studies, multiple hit compounds have progressed with the aim of generating a lead series with in vivo activity for oncology and inflammatory indications by the second quarter of 2020,” investors were told.

“Significant industry activity from multiple pharmaceutical companies for the target of interest at recent scientific meetings supports the ongoing partnering potential of this programme.”

Another tie-up, this time with AIM-listed Horizon Developments (LON:HZD), inked last December, has made “rapid progress”.

In fact, researchers have now generated “comprehensive data packages” for potential new targets.

Finally, last week it was announced that a C4X-discovered molecule licensed to drug developer Indivior has received a multi-million dollar grant as part of a US project to fight opioid addiction.

Analysts said the Indivior tie-up and NIH HEAL award provide third-party validation of the C4X technology and its strategy of partnering early in the drug development process.

"We are excited that the world class drug discovery being carried out by the team at C4XD has built a highly valuable portfolio of new medicines that will allow us to strike further lucrative deals with pharma partners as demonstrated by Indivior's grant awarded by NIH HEAL,” said CEO Dix.

“We are very confident about delivering these deals in the near future and beyond."

Quick facts: C4X Discovery Holdings PLC

Price: 11.6 GBX

AIM:C4XD
Market: AIM
Market Cap: £12.57 m
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Full interview: C4X Discovery fully cashed up and sees big potential for its...

C4X Discovery Holdings plc's (LON:C4XD) Clive Dix speaks to Proactive London's Andrew Scott following the news they've raised around £6.6mln to strengthen its balance sheet amid ongoing licensing discussions for its early-stage drug candidates. While expressing regret for the level at which...

on 25/10/19

2 min read