What it does
Finding, testing and developing new drugs is a notoriously expensive process.
e-Therapeutics PLC (LON:ETX) has built network-driven drug discovery platforms (NDD and GAINs) that harness the power of big data and artificial intelligence (AI).
The company’s main claim is that these processes allows it to discover new and better drugs in a more efficient and effective way.
Following a strategic review in 2017, the focus is now on commercialisation: securing partners for its platform, discovery and development projects.
Last year it secured its first commercial research collaboration deal for the NDD platform when Novo Nordisk asked to use it as part of its search for new diabetes treatments.
ETX is also working with C4X Discovery, Biorelate and Intellegens, and more collaborations are expected over the next twelve months.
The company also uses its platform to discover its own drugs. It currently has two NDD-derived immuno-oncology programmes in the pipeline, although these are currently playing second fiddle to the NDD platform itself.
How it’s doing
In October, E-Therapeutics PLC (LON:ETX) said multiple proposals for its artificial intelligence-based drug research products had been sent to potential partners and customers.
The AIM-listed group has programmes running already using its network-driven drug discovery (NDD) platform and Genome Associated Interaction Networks (GAINs) with Danish pharma Novo Nordisk for type-2 diabetes.
A collaboration with an unnamed pharma major for a project looking at brain conditions such as Parkinson's, Alzheimer's and Huntington's was also announced in August.
E-Therapeutics added that these collaborations have been structured so that it retains ownership of key data while enabling the output from its platforms to be tested in its partners' in-house assays.
“We continue to believe that the best way to create significant incremental value is to generate proprietary pre-clinical data, particularly on our in-house novel therapeutic assets.
“In particular, we think that there is an exciting opportunity to develop our own datasets in other core disease areas using our new GAINs approach.
Results for the six months to July showed efforts to pare down on costs paying off as operating losses dropped to £1.6mln (£2.8mln) with cash at the period end of £5.2mln (£5.9mln).
What the boss is saying: Ray Barlow, chief executive (in October)
"The business has continued to make good progress over the past six months and is continuing to convert the extensive work done in business development into a range of potential revenue and cash-generating partnerships."
- More collaborations deals signed for either NDD or GAINs
- Funding package to accelerate development plans agreed
- Progress with own drug candidates