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e-Therapeutics' new boss sees lots of potential

Snapshot

  • Network-driven platform helps expedite the drug discovery process
  • Denmark's Novo Nordisk uses the platform for new diabetes drugs
  • Two cancer programmes of its own
  • Ali Mortazavi now executive chairman 
scientist in a lab

Quick facts: e-Therapeutics PLC

Price: 14.25 GBX

AIM:ETX
Market: AIM
Market Cap: £59.72 m
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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.

It also has two NDD-derived immuno-oncology programmes in the pipeline.

How it’s doing

In June, e-therapeutics teamed up with Belgian life sciences giant Galapagos to uncover a new means of treating idiopathic pulmonary fibrosis, a serious lung disease with a poor prognosis.

The work, which will lean into ETX’s expertise in network biology and in-silico phenotypic screening, will focus on approaches to modulate one specific mechanism involved in IPF and other fibrotic conditions.

Financial details were not provided; however, the UK company said it will receive “upfront and near-term payments material to [its] cash position”. It is also eligible for pre-clinical and clinical development and commercial milestone payments.

e-therapeutics said it had also  re-purposed an existing platform to test approved and known drugs, both alone and as combinations, for Covid-19 treatment

In July, the company launched a £12.4mln funding round for the “next stage of growth and value creation” by expanding its drug discovery platform and asset pipeline.".

What the boss is saying: Ali Mortazavi

"I am excited by the potential of e-therapeutics' proprietary platform technologies to meaningfully transform and accelerate the drug discovery process, increasing the probability of bringing better therapies to market.

"The proposed fundraise will allow us to further invest in these and to expand our in-house capabilities and team. We believe that this will enable us to forge additional collaborations with leading biopharmaceutical companies"

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Inflexion points 

  • More collaborations deals signed for either NDD or GAINs
  • Funding package to accelerate development plans agreed
  • Progress with own drug candidates

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