LONDON (Alliance News) - Drug discovery and development company C4X Discovery Holdings PLC on Monday said it has identified multiple new drug targets in the area of inflammation and neurodegeneration using its Taxonomy3 platform.
C4X Discovery said the discovery represents the first major output from its Taxonomy3 platform since purchasing in March, noting that it has combined the platform with its Conformetreix technology to expand its pipeline.
C4X Discovery said it has identified multiple novel targets through analysis of research charity Wellcome Trust's rheumatoid arthritis dataset, and said it has already prioritised two of these drug targets for evaluation as potential new pipeline programmes. Both are amenable to drug screening using C4XD's Conformetrix technology and C4X Discovery aims to have identified first hits for the first of these targets within three months, the company said.
Meanwhile, analysis of Wellcome Trust's publicly available parkinson's disease dataset identified multiple novel targets in discrete patient sub-groups that could potentially provide an opportunity in stratified medicine, C4X Dicsovery said, noting that it was extending this analysis through examining an additional dataset. New targets for progression will be then selected and linked to a specific subgroup of Parkinson's patients, C4X Discovery added.
"The rapid progress we have made in the past few months demonstrates the potential of the enlarged C4XD platform to generate genetically validated targets in therapeutic areas of high unmet medical need that should have a significantly higher probability of clinical success," said Chief Executive Clive Dix.
"C4X Discovery is already seeing the benefits of combining Taxonomy3 with Conformetrix as it allows us to expand the pipeline and accelerate progress towards our aim of becoming the world's most productive drug discovery and development company," Dix added.
Shares in C4X Discovery were up 6.1% at 104.00 pence on Monday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
