LONDON (Alliance News) - C4X Discovery Holdings PLC said Tuesday it has entered into a discovery partnership with LifeArc, a UK medical research charity, to develop small molecule drug candidates with applications in oncology and inflammation.
The drug discovery company said it will will join forces with LifeArc to progress medicinal chemistry efforts on a "novel, commercially attractive programme".
The aim of the partnership, of which no financial details were disclosed, is to develop oral, potent and selective small molecule drug candidates and deliver a "novel treatment in an area of high unmet clinical need".
Chief Executive Officer Clive Dix said: "This partnership not only demonstrates the potential of our Conformetrix platform, it also highlights our strategic approach of accelerating towards a diversified portfolio of pre-clinical assets for out-licensing. We are delighted to be working with the LifeArc team and look forward to a successful outcome and continuing to build on our strategic relationship."
C4X shares were trading down 9.3% at 78.0 pence each on Tuesday.