25 May 2016 07:00
e-Therapeutics plc
("e-Therapeutics" or the "Company")
Annual General Meeting
Oxford and Newcastle, UK, 25 May 2016 - e-Therapeutics plc (AIM: ETX), the drug discovery and development company, is holding its Annual General Meeting (AGM) today at 12.30pm.
Ahead of this meeting, the Chairman Iain Ross will provide the following comments:
"At e-Therapeutics, we are fortunate to have a highly productive drug discovery platform and the strength and depth of a range of assets which are fundamental to the commercial success of the Company.
"Two of our most advanced projects are approaching lead candidate selection with the expectation that the most advanced of these projects will enter preclinical development in the coming months.
"Last summer we signalled the initiation of discovery activities in immunotherapy and I am pleased to confirm that our programme now covers four active projects including checkpoint inhibition, tryptophan catabolism and selective cytokine modulation. Elsewhere, we are encouraged by the progress and scope of our antiviral programme.
"As discussed in the recent preliminary results, the orderly closure of the phase Ib trial of our cancer programme, ETS2101, has commenced and this process is anticipated to be completed by the end of the current financial year. With the proposed acquisition of Searchbolt, we will bring all of e-Therapeutics' intellectual property under one roof.
"We remain focused on the commercial validation of our proprietary drug discovery platform. The Company remains well funded, our last reported cash balance was £24.8m, and we anticipate receiving a R&D tax credit of £2.5m in the short term.
"We will provide a more detailed trading update at the end of the current half year."
-Ends-
For more information, please contact:
e-Therapeutics plc
Iain Ross, Chairman
Steve Medlicott, Finance Director
Tel: +44 (0)1993 883 125
www.etherapeutics.co.uk
Numis Securities Limited
Michael Meade / Freddie Barnfield (Corporate Finance)
James Black (Corporate Broking)
Tel: +44 (0) 207 260 1000
www.numis.com
Instinctif Partners
Melanie Toyne-Sewell / Jayne Crook / Emma Barlow
Tel: +44 (0) 207 457 2020
Email: e-therapeutics@instinctif.com
About e-Therapeutics plc
e-Therapeutics (AIM: ETX) is a drug discovery company with a proprietary discovery platform based on advances in network pharmacology and chemical biology.
The Company is applying its platform to the discovery of new drug candidates. The therapeutic focus of the Company's activity is in immuno-oncology, addressing drug resistance in targeted cancer therapies and anti-infectives. The platform is highly productive, yielding multiple potent and selective molecules at a much higher rate and more quickly than is reported for conventional drug discovery.
e-Therapeutics has a variety of preclinical stage assets, including ETX1153c, a functionally resistance-less antibiotic; ETS2300, telomerase inhibition in anti-cancer; ETS3100, small molecule anti-TNFα; ETS2400, Hedgehog pathway inhibition and ETS5200, broad spectrum antivirals. The Company has recently completed a phase IIb clinical trial for ETS6103, a drug to treat major depressive disorder.
The Company is fully funded to advance its drug discovery programmes. It is based in Oxford and Newcastle, UK. For more information visit www.etherapeutics.co.uk.