e-Therapeutics (LON:ETX) chief executive, professor Malcolm Young, hailed the “striking productivity” of its drug discovery engine as the firm delivered its end of term report.
Annual results reprised the significant progress made with its flagship cancer treatment ETS2101, which is currently in three separate clinical studies.
The life science firm, a pioneer of a technique called network pharmacology, confirmed that preliminary results from its US brain cancer trial will be available in the second quarter.
Phase IIb studies on its most advanced drug candidate, ETS6103 for depression, are set for completion in the second half, after which e-Therapeutics will look for a partner for it.
It also said it is assessing potential funding opportunities for ETX1153c, a fledgling treatment for the difficult to treat bacterial infection C. difficile.
In the lab, e-Therapeutics delivered a “dramatic acceleration of molecule selection and testing” during the year, with approximately 2,200 molecules, across six discovery projects, being assessed.
This compares to about 100 molecules in the previous year.
CEO Young said: "The investment and enhancements we have made over the past two years are paying dividends, not only with the number of molecules we can now screen, but in the ground-breaking yields we are observing.
“We have a wealth of active molecules to choose from to take forward into development.”
The financial results revealed that e-Therapeutics is well-funded with £33.8mln in the bank as at the end of the year.
The loss for 2014, largely an irrelevance for an emerging drugs developer, was £9.8mln.