C4X Discovery Holdings PLC (AIM:C4XD) said it is in "advanced commercial discussions with multiple potential partners" for its NRF2 activator programme for inflammatory diseases.
If it inks a licensing deal, it will be the third cab off the rank for the group, which already has tie-ups with drug giants Indivior and Sanofi.
In the update, which accompanied the company’s prelims, C4X said it was also looking for partners for its inflammatory bowel disease candidate and its cancer and inflammation asset.
Underlining the progress the research team made during the year, over 80 opportunities were analysed, with six new early-stage programmes added to the pipeline.
The total loss for the 12 months ended January 31 was £4.5mln with £3.9mln invested in C4X’s R&D efforts.
It exited the period with £11.7mln in the bank.