E-THERAPEUTICS PLC
(“e-Therapeutics” or the
“Company”)
e-Therapeutics plc (AIM: ETX): Upon the completion of Ray
Barlow’s first three months as CEO of e-Therapeutics, the Company
outlines below the conclusion of the strategic review for its
investors and other stakeholders.
- A systematic review of the technology
confirms the novelty, utility and productivity of e-Therapeutics’
Network-Driven Drug Discovery (NDD) platform
- Internal discovery efforts will focus
on the Company’s two immuno-oncology programmes, and all other
programmes will be used for platform validation purposes and/or
immediate out-licensing
- Investment in the NDD platform will
continue to develop its functionality and capabilities, including
in genomics and artificial intelligence/machine learning
- Costs continue to be managed prudently,
and the Company confirms receipt of £2.8m tax credit
- The prime focus will be on business
development, external collaboration and partnership
Ray Barlow, CEO of e-Therapeutics, said:
“Based on a detailed, systematic review of the business and
its technologies, we are firmly of the view that we have created a
unique and sophisticated computer-based drug discovery platform
which is significantly more rapid and productive than other
approaches available to the industry.
“Our network-driven view of biology and disease is gaining
more and more attention in literature and the industry.
Furthermore, results we have generated show that our approach
has the potential to discover new and better drugs with potentially
novel mechanisms of action (MoAs).
“While exercising keen cost control, we will continue to
invest in the development of the platform and also carefully deploy
our own resources to progress selected internal programmes.
Our internal discovery efforts will now focus on our two novel,
small molecule, immuno-oncology programmes in checkpoint signalling
modulation and tryptophan breakdown (catabolism).
“Our business model is directed to external collaboration and
partnership, including the out-licensing of our assets at a
pre-clinical stage. We will now take our Hedgehog signalling
modulation programme out to the industry.
“We can apply our approach to a range of complex diseases,
and hope that our platform will be of interest to a range of
traditional biopharmaceutical companies as well as to a new
generation of companies looking to disrupt drug R&D. We believe
there is potential to enter into several different types of
collaborative partnerships and agreements to create sustainable
mutual value.”
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
ADDITIONAL INFORMATION & BACKGROUND ON THE STRATEGIC
REVIEW
A ‘root and branch’ review was undertaken by the CEO, including
a panel composed of leading commercial and scientific experts
working for (or with background in) big pharma (AstraZeneca, Pfizer
and Merck & Co.) and successful biotechs (Piramed, Mission
Therapeutics, Benevolent AI).
The various areas of the review with further information are
summarised below:
Review confirms utility and productivity of e-Therapeutics’
network-driven drug discovery (NDD) platform in creating new and
potentially better drugs
- Confirmation that e-Therapeutics’
approach is unique and productive, and should have advantages in
terms of time, cost, novelty and quality over other approaches to
small molecule drug discovery
- NDD approach has now been used to
identify small molecule hits in 12 discovery programmes in diverse
areas of biology, including oncology, immunology and
neurodegeneration
- The process is rapid: identifying
drug-like molecules takes nine months or less from original concept
to initial hits. This compares to 24 months or more for standard
approaches
- The process is highly productive:
potent, selective and novel drug-like molecules identified at a
level of productivity several orders of magnitude higher than
typical high throughput or phenotypic approaches
- The approach can be used to identify
potentially novel mechanisms of action (MoAs) and first-in-class
candidates
Review confirms market dynamics favourable towards
e-Therapeutics’ approach, model and business plan – pharma industry
is focusing more on a network view of genomics and disease
- There is a growing interest by the
industry in focusing drug R&D on a network view of biology and
disease, as described in a recent BioCentury Innovations article
(see link: HERE)
- e-Therapeutics’ drug Discovery Engine
is a unique way to approach this increasingly important area of
drug discovery:
- A combination of large-scale,
proprietary databases and a suite of powerful computational tools
that employ data mining, machine learning, artificial intelligence,
optimisation, and network analysis
Review confirms two immuno-oncology programmes should be the
focus for incremental investment
- Confirmation follows a systematic
assessment of the status of all programmes, including data
generated, investment required, competitive landscape and potential
of programme to meet unmet clinical and commercial need
- Checkpoint signalling modulation and
tryptophan breakdown (catabolism) programmes continues to be the
focus for further internal investment. These programmes address
gaps in available treatments and have potential to provide novel,
first-in-class drugs
- Actions for other programmes:
- Hedgehog signalling modulation and
anti-influenza programmes validate the NDD approach and will be
taken out to the industry as potential out-license
opportunities
- TNF alpha suppression and Telomerase
projects underpin the scientific foundation of the NDD approach and
data will be submitted to scientific and industry publications
Review confirms utility of approach which enables
e-Therapeutics to work in areas of biology with high unmet clinical
and commercial need
- e-Therapeutics now has significant
expertise in the application of its specialised approach to network
biology to a broad range of complex diseases
- New network feasibility projects in
triple negative breast cancer, tumour microenvironment and other
complex disease like neurodegeneration and fibrosis
- Intention to approach industry to work
with them on using NDD on disease areas of clinical and commercial
interest
Positive outcomes generated from programmes to date,
encourage further investment in the platform
- Review confirms e-Therapeutics has
created a unique and sophisticated computer-based drug discovery
platform which is significantly more rapid and productive than
other approaches available to the industry
- Plan to continue:
- Refinement of current, user-friendly
interface
- Regulatory network construction and
analysis (“drugging the undruggable”)
- Application of networks to personalised
medicine and disease segmentation based on genomics
- Expansion of the use of artificial
intelligence (AI)/machine learning for data augmentation
- Work on elucidating novel MoAs via a
network-driven approach
Cost control will be applied to maintain cash
resources
- A thorough financial review of all
elements has been undertaken
- The number of active, self-funded
discovery programmes reduced from six to two, with capacity to
initiate new projects
- External funding sought for other
programmes
Focus on business development
- Prime focus of the business is now
firmly on business development activities and on external
validation of the platform and programmes
- Active marketing of Hedgehog and
anti-influenza programmes
- Partners also sought for new NDD
projects utilizing the drug discovery platform
- Business rebranded and new website and
marketing material created
- Sponsorship of AI Pharma Innovation
Summit (July 2017) in Boston to showcasee-Therapeutics’
technologies to Chief Technology Officers (CTOs) and heads of
informatics of major industry players
Further points of note
- R&D tax credit of £2.8m received in
late June 2017
- Full financial update as part of our
half-year announcement, scheduled for 26 September 2017
FURTHER DETAIL ON PROGRAMMES
Checkpoint signalling modulation
The aim of this programme is to create novel, small molecule
disruptors of checkpoint signalling that can increase the
anti-tumour activity of immune cells and directly overcome T-cell
anergy and reverse T-cell exhaustion.
e-Therapeutics has identified compounds that are active in a
panel of challenging orthogonal assays. The Company also appears to
have novel MoA (not A2A or CTLA-4 or PD-1 antagonist). Whilst
relatively early, this programme is in a rapidly developing space
with high industry interest. The Company will continue to invest in
this programme to build on the exciting and encouraging data it has
generated to date.
Tryptophan Catabolism (degradation)
The aim of this programme is to create novel, small molecule
agents that can reduce the catabolism (degradation) of tryptophan
which, in turn, should prevent the suppression of T-cell responses
in cancers as a monotherapy or in combination.
This programme has been highly productive, and the team has
identified novel, picomolar potent, drug-like compounds with
activity greater than agents currently in the clinic, such as
epacadostat (Incyte), indoximod (New Link Genetics) and BMS-986205
(BMS/Flexus). In addition, data suggests that a novel MoA (not IDO
or TDO inhibitors) has been found which will be explored
further.
Hedgehog signalling modulation
The aim of this programme is to create novel, potent and
selective Hedgehog pathway modulators with reduced tendency to
induce SMO resistance and activity against tumours resistant to the
existing agents vismodegib and sonidegib.
This programme has been a good validation of e-Therapeutics’
approach. The Company has identified molecules with single-digit
nanomolar potency in cellular assays, some of which have no (or
some limited) binding to SMO, superior efficacy in
vismodegib-resistant cells and activity in a mouse xenograft model,
equivalent or superior to the established agents. The Company will
now take this programme out to the industry to see the level of
interest as an out-licensed asset.
-Ends-
Notes to Editors
About e-Therapeutics plc
e-Therapeutics is an Oxford-based company with a unique and
powerful computer-based drug discovery platform and a specialised
approach to network biology.
Its novel methodology and Discovery Engine allow the Company to
discover new and better drugs in a more efficient and effective
way.
For more information about the Company, please visit
www.etherapeutics.co.uk
This announcement includes "forward-looking statements" which
include all statements other than statements of historical facts,
including, without limitation, those regarding the Company's
financial position, business strategy, plans and objectives of
management for future operations, and any statements preceded by,
followed by or that include forward-looking terminology such as the
words "targets", "believes", "estimates", "expects", "aims",
"intends", "will", "can", "may", "anticipates", "would", "should",
"could" or similar expressions or the negative thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the Company’s
control that could cause the actual results, performance or
achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by
such forward-looking statements. Such forward-looking statements
are based on numerous assumptions regarding the Company's present
and future business strategies and the environment in which the
Company will operate in the future. These forward-looking
statements speak only as at the date of this announcement. The
Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward looking
statements contained in this announcement to reflect any change in
the Company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based. As a result of these factors readers are cautioned not
to rely on any forward-looking statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20170723005014/en/
For further information, please contact:e-Therapeutics
plcRay Barlow, CEOSteve Medlicott, Finance DirectorTel: +44 (0)
1993 883 125www.etherapeutics.co.ukorNumis Securities
LimitedMichael Meade / Freddie Barnfield (Corporate
Finance)James Black (Corporate Broking)Tel: +44 (0) 207 260
1000www.numis.comorInstinctif PartnersMelanie Toyne
Sewell/Alex ShawTel: +44 (0) 207 457 2020Email:
e-therapeutics@instinctif.com
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