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All change at e-Therapeutics as former Silence boss comes on board

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: 19.5 GBX

AIM:ETX
Market: AIM
Market Cap: £62.87 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.

Following a strategic review in 2017, the focus is now on commercialisation: securing partners for its platform, discovery and development projects.

A first commercial research collaboration deal for the NDD platform was when Novo Nordisk asked to use it as part of its search for new diabetes treatments.

ETX is also working with C4X Discovery, Biorelate and Intellegens and more collaborations are expected over the next twelve months.

The company also uses its platform to discover its own drugs.

It currently has two NDD-derived immuno-oncology programmes in the pipeline, although these are currently playing second fiddle to the NDD platform itself.

How it’s doing

In February, Ali Mortazavi, the former chief executive of Silence Therapeutics, took over following wholesale board changes, with the firm also launching a £1.6mln refinancing.

Mortazavi is now executive chairman with Michael Bretherton joining as new independent non-exec.

The placing was at 3p per share with Mortazavi and major shareholder Richard Griffiths (29.3%) both subscribing to the share issue.

What the boss is saying: Ali Mortazavi

 "Having spent an extensive period of time conducting deep due diligence on e-therapeutics' NDD platform, I am extremely impressed with the company's capabilities.

"The business has continued to make good progress over the past six months and is continuing to convert the extensive work done in business development into a range of potential revenue and cash-generating partnerships."

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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