Revenues rise at Oxford drug discovery company E-therapeutics after investment in scientific staff

etherapeutics

Drug discovery company, E-therapeutics plc, which is based at Long Hanborough near Witney, has announced its latest six months results (to the end of July). Following a successful £22.5 million equity raise in June, the company has reported revenues of £500,000, and an operating loss of £3.5 million for the period.

e-therapeutics has a powerful computer-based approach to drug discovery, founded on its industry-leading expertise in network biology to fully capture disease complexity.

The company combines network science, machine learning, artificial intelligence, statistics and big data with expertise in drug discovery and development to transform the search for new medicines and intervention strategies.

The Company has undergone a number of Board and leadership changes in addition to a significant increase in scientific staff. 

In October, the company announced it had filed five new patent applications relating to its innovative GalNAc-conjugated siRNA construct designs, including around stabilising chemical modifications enabling specific hepatocyte (liver cell) targeting and a further six new patent applications have now also been filed.

Ali Mortazavi, Chief Executive Officer of e-therapeutics, said: “I am extremely pleased with the progress the Company has made in the period. In particular, with further milestone achievements in our partnership with Galapagos and the completion of a successful equity fund raise. The raise enables enhanced investment for the Company to accelerate the development of RNAi therapeutics and to further develop our computational capabilities. Since the fund raise, we have made excellent progress in all areas of the Company and we are building on this positive momentum.

“We are delighted to announce top-line positive results from in vivo studies in non-human primates, confirming the Company’s proprietary GaINAc-siRNA platform has been successfully benchmarked against leading competitor RNAi platforms. These excellent results show that our proprietary delivery system and siRNA chemistries are competitive relative to peer platforms. This is a material step in the Company’s ultimate goal of developing an in-house RNAi pipeline with future scope for early-stage partnering. Eleven new patent applications have been filed to protect these innovations. In parallel, we are developing the world’s largest data resource in hepatocyte biology which will enable the identification and prosecution of novel therapeutic targets, both internally and with collaborators.

“We believe that e-therapeutics offers a differentiated strategy, with the ability to silence any gene in the liver with extremely rapid pre-clinical timelines, coupled with powerful computational capabilities, including in hepatocyte biology. We look forward to the future with great excitement.”