Last checked at 10 Sep 2015 09:00
e-Therapeutics plc
('e-Therapeutics' or 'the Company')
Director's Disclosure
10 September 2015, Oxford and Newcastle, UK: Pursuant to AIM Rule 17 and Schedule II paragraph (g) of the AIM Rules, e-Therapeutics plc (AIM: ETX), the drug discovery and development company, discloses the following information in relation to the appointments of Brad Hoy, non-executive director of the Company.
On 13 February 2014 Burdica Biomed Limited ("Burdica"), a company of which Brad Hoy is a director, was placed into administration, with an initial estimate of deficiencies to creditors of approximately £200,000. However, in order to fulfil several historic orders placed by one of its key customers, Burdica has continued to trade with limited financial support being provided by the customer in order to facilitate the continuation of such trading. Accordingly, although the administration process is ongoing, as Burdica has continued to trade, the deficiencies to creditors upon conclusion of the administration process is expected to improve from initial estimates.
The Company will issue a further announcement in relation to this matter as and when appropriate.
Contacts:
e-Therapeutics plc
Steve Medlicott, Finance Director
Tel: +44 (0) 1993 883125
www.etherapeutics.co.uk
N+1 Singer
Aubrey Powell / Lauren Kettle
Tel: +44 (0)207 496 3000
www.n1singer.com
About e-Therapeutics plc
e-Therapeutics is a drug discovery and development company with a proprietary platform in network pharmacology, an innovative approach to drug discovery based on advances in network science and chemical biology. e-Therapeutics' platform is generating more potent, selective and diverse molecules at much higher yields than is reported for conventional drug discovery. The Company's discovery and development activity addresses age-related diseases, including cancer and central nervous system disorders, and it is fully funded to advance its programme into 2019, including phase II clinical data and multiple regulatory submissions.
e-Therapeutics has a phase IIb clinical stage drug candidate for major depressive disorder, ETS6103. It has a phase Ib clinical stage candidate in hepatocellular and pancreatic cancer, ETS2101. The company has a variety of preclinical stage assets, including ETX1153c, a functionally resistance-less antibiotic; ETS2300, potent telomerase inhibition in anti-cancer; ETS3100, potent small molecule anti-TNFα; ETS2400, potent Hedgehog pathway inhibition; and ETS6200, in neuroprotection.
e-Therapeutics is based at sites in Oxford and Newcastle, UK. For more information about the Company, please visit www.etherapeutics.co.uk.