Drug discovery company, E-therapeutics plc, which is based at Long Hanborough near Witney, raised £22.5 million through new ordinary shares to facilitate a number of initiatives, with a focus on expanding the company’s proprietary, disease-agnostic, drug discovery and development platform capabilities and asset pipeline.
The company also reported raising total gross funds of £13.2 million in its latest accounts, and revenues of £0.3 million.
Ali Mortazavi, Chief Executive Officer of e-therapeutics, said: “Our ambition is to transform the drug discovery process. The successful fundraises during the year enable the next stage of growth and value creation for the Company and we have begun to build momentum as we move forward with our strategy delivering scientific progress and current and prospective partnerships and collaborations. Ending the year in a secure financial position will enable us to make significant progress in the year ahead and beyond.”
e-therapeutics platform is a combination of large-scale, proprietary databases and a suite of powerful computational tools that employ network analysis, data mining, machine learning, Al and optimisation. The novelty of its biology-centred approach, underpinned by integration of multiple disparate data sets, enables the characterisation of currently intractable or undruggable disease processes and the identification of the best ‘network-aware’ intervention strategies.