Last checked at 2 Jul 2021 07:00
e-therapeutics plc
("e-therapeutics" or "the Company")
Achievement of further milestone in Galapagos collaboration
Oxford, UK, 2 July 2021 - e-therapeutics plc (AIM: ETX.L) announces that it has met a key milestone in its collaboration with Galapagos NV ("Galapagos"), a commercial stage company specialized in the discovery and development of small molecule medicines with novel modes of action, with a focus on inflammation, fibrosis and kidney disease. This milestone results in a payment from Galapagos. The objective of the collaboration between the Company and Galapagos, which was announced on 10 June 2020, is to identify new therapeutic approaches to modulate a specific mechanism involved in idiopathic pulmonary fibrosis (IPF) and other fibrotic indications.
Under the terms of the agreement, e-therapeutics is eligible to receive additional milestone payments through pre-clinical and clinical development as well as commercial milestones.
Ali Mortazavi, Chief Executive Officer of e-therapeutics, commented: "I am delighted with the progress of our collaboration with Galapagos following our recent update on 23 April 2021. We believe e-therapeutics' network biology approach will become an important component of small molecule drug discovery and we are implementing the same approach to our internal pipeline, using RNAi as the therapeutic modality of choice."
Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Enquiries:
e-therapeutics plc | |
Ali Mortazavi, CEO Karl Keegan, CFO Laura Roca-Alonso, CBO | Tel: +44 (0)1993 883 125 www.etherapeutics.co.uk |
SP Angel Corporate Finance LLP |
Tel: +44(0)20 3470 0470 |
Nominated Adviser and Broker | |
Matthew Johnson/Caroline Rowe (Corporate Finance) | |
Vadim Alexandre/Rob Rees (Corporate Broking) | |
About e-therapeutics plc
e-therapeutics plc is an Oxford, UK-based company with a powerful computer-based approach to drug discovery, founded on its industry-leading expertise in network biology to fully capture disease complexity. The Company combines network science, machine learning, artificial intelligence, statistics and big data with expertise in drug discovery and development to transform the search for new medicines and intervention strategies.
e-therapeutics has developed an in silico laboratory that enables the rapid screening of millions of compounds and the identification of small subsets that are enriched for highly active hits. Its proprietary platform also has novel applications in functional genomics, being able to analyse complex genetic datasets, provide a deep understanding of pathological mechanisms and distil actionable insights for the discovery of novel drugs, biomarkers and diagnostics.
e-therapeutics has deployed and validated its disease-agnostic drug discovery platform both in house and with partners, including Novo Nordisk, Galapagos NV and a US-based, top 5 pharmaceutical company.