Edison issues update on e-Therapeutics (ETX)

London, UK, 27 July 2017

Edison issues update on e-Therapeutics (ETX)

New CEO Dr Ray Barlow, who joined e-Therapeutics (ETX) in April, has undertaken a business and strategic review, assisted by an independent industry-wide expert panel. The portfolio has been rationalised from six to two preclinical immuno-oncology programmes; two programmes are available for out-licensing, while data will be published on two others to showcase and validate the proprietary network pharmacology discovery platform. This will secure ETX's cash runway comfortably to the end of 2019, free capacity to add new programmes in H217 and enable further investment in the platform. The management team is now focused on external collaborations and partnerships to provide validation and generate revenue. ETX's attendance at industry conferences, including one in Boston this week, will help to raise its profile.

No change to our numbers: cash of £14m (as of end-January 2017), tax credits (£2.8m received June 2017) and prudent cost control give ETX a secure cash runway to the end of 2019. However, deals remain key to unlocking value and the new team is focused on arranging meetings with potential collaborators. Attendance at industry conferences and data publication will raise the profile of the new management and the innovative discovery platform.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Charlotte Hetzel, +44 (0)20 3077 5700

Linda Pomeroy, +44 (0)20 3077 5738

healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-investment-research 

Twitter www.twitter.com/Edison_Inv_Res 

YouTube www.youtube.com/edisonitv