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e-Therapeutics names Daniel Elger new chief financial officer

Published: 03:54 13 Jun 2011 EDT

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AIM listed drug discovery and development company E-Therapeutics (LON:ETX) has named Daniel Elger as chief financial officer (CFO) and appointed him to the board.

Elger has previously served as vice president for marketing and communications at cancer drug developer Antisoma, where he played active roles in corporate strategy, fundraisings and the acquisition of two US biotech companies.

Before Antisoma, e-Therapeutics' new CFO was a programme director for major pharmaceutical companies at a marketing and communications agency.

“Daniel has a wide set of skills across corporate, financial and communications areas, and he is a valuable addition to the e-Therapeutics team,” said chief executive of e-Therapeutics Malcolm Young.

“Following our £21 million placing at the beginning of the year, implementing our strategic plans and communicating them to current and potential shareholders will be key elements of his role.”

The Newcastle-based company has a pipeline of three drugs - with a further seven undergoing assessment.

The company specialises in an area of drug research called network pharmacology. This cutting edge science has the potential to evaluate new compounds for efficacy and safety, which ought to ensure fewer drugs fail in clinical trials.

E-Therapeutics raised £17 million back in February to fund the development of its drugs for depression, cancer and intestinal disease - C.difficile.

In a research note on the company, Edison Investment Research said that e-Theraperutics’ lead assets (ETS2101 in cancer, ETX1153c in C. difficile, ETS6103 in depression) should enter Phase II studies by Q4 2011, with data expected mid-2012.

Out-licensing deals with upfront payments, milestones and royalties may follow shortly thereafter, it said.

e-Therapeutics present at the Proactive One2One Investor Forum - October 26th

Ali Mortazavi, CEO of e-Therapeutics PLC (AIM:ETX, OTCQX:ETXPF), addressed the challenges of traditional drug discovery, emphasising its high risk, extensive timeline, and considerable cost at the Proactive One2One Investor Forum. Underlining the inefficiencies of this model, Mortazavi posed...

on 11/01/2023