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E-Therapeutics eyes full control of discovery platform tech

E-Therapeutics ended its latest half year with cash of more than £30mln.

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The discovery platform currently has 10 live projects.

Drug developer E-Therapeutics (LON:ETX) is mulling taking full control of the technology behind in its drug discovery platform.

E-Therapeutics, which ended its latest half year with cash of more than £30mln, said the value of any such acquisition would not exceed £2.5mln with a possible share element.

The discovery platform currently has 10 live projects, which will be whittled down for formal pre-clinical development early next year, with the most promising to enter clinical development in 2017.

The other live discovery activities include hundreds of potential compounds, mostly in immuno-oncology.

Last month, the group detailed progress with two drugs currently on trial.

Results from a phase IIb trial of ETS6103 for depressive disorders are expected by the end of January, while ETS2101 has entered phase Ib trials for hepatocellular carcinoma and pancreatic cancer.

Interim losses to June were £5.8m (£5.1m) reflecting increased spending in both discovery and development arms offset slightly by lower administrative costs.

Spending is set to rise in the current half year as E-Therapeutics' projects progress.

Quick facts: e-Therapeutics plc

Price: 4 GBX

AIM:ETX
Market: AIM
Market Cap: £10.77 m
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