e-Therapeutics plc Edison issues update on e-Therapeutics (ETX)
July 27 2017 - 11:46AM
RNS Non-Regulatory
TIDMETX
e-Therapeutics plc
27 July 2017
London, UK, 27 July 2017
Edison issues update on e-Therapeutics (ETX)
New CEO Dr Ray Barlow, who joined e-Therapeutics (ETX) in April,
has undertaken a business and strategic review, assisted by an
independent industry-wide expert panel. The portfolio has been
rationalised from six to two preclinical immuno-oncology
programmes; two programmes are available for out-licensing, while
data will be published on two others to showcase and validate the
proprietary network pharmacology discovery platform. This will
secure ETX's cash runway comfortably to the end of 2019, free
capacity to add new programmes in H217 and enable further
investment in the platform. The management team is now focused on
external collaborations and partnerships to provide validation and
generate revenue. ETX's attendance at industry conferences,
including one in Boston this week, will help to raise its
profile.
No change to our numbers: cash of GBP14m (as of end-January
2017), tax credits (GBP2.8m received June 2017) and prudent cost
control give ETX a secure cash runway to the end of 2019. However,
deals remain key to unlocking value and the new team is focused on
arranging meetings with potential collaborators. Attendance at
industry conferences and data publication will raise the profile of
the new management and the innovative discovery platform.
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