e-Therapeutics plc Key Milestone Achieved on Galapagos Collaboration (0218I)
12 Abril 2022 - 1:00AM
UK Regulatory
TIDMETX
RNS Number : 0218I
e-Therapeutics plc
12 April 2022
e-therapeutics plc
("e-therapeutics" or "the Company")
Key Milestone Achieved and Significant Progress on Galapagos
Collaboration
Oxford, UK, 12 April 2022 - e-therapeutics plc (AIM: ETX; OTCQX:
ETXPF), a specialist in computational drug discovery with a focus
on developing RNA interference ("RNAi") therapeutics, today
announces that it has reached a key milestone in its collaboration
with Galapagos NV ("Galapagos"), a fully integrated European
biotech focused on the discovery, development and commercialization
of novel modes of action medicines for diseases with large unmet
medical needs primarily in inflammation, fibrosis and other
indications.
This key milestone results in a cash payment to e-therapeutics,
following the successful characterisation by the Company of the
mechanism of action of hit compounds ("hits") identified earlier in
the collaboration. These hits, which were originally identified
through e-therapeutics' proprietary computational discovery
platform, have been experimentally validated by Galapagos in
relevant assays.
The collaboration with Galapagos has achieved the goal of
successfully identifying potential therapeutic strategies in a
specific area of biology associated with idiopathic pulmonary
fibrosis ("IPF") and potentially other fibrotic indications. In
keeping with previous e-therapeutics projects, the hit rate in
identification of active compounds was several orders of magnitude
higher than industry standard, further validating e-therapeutics'
robust computational biology methods.
e-therapeutics has now achieved all pre-agreed near-term
milestones and the future of the identified hits and targets will
be determined by Galapagos according to its strategic
priorities.
Under the terms of the agreement, e-therapeutics is eligible to
receive additional milestone payments through pre-clinical and
clinical development, regulatory as well as commercial milestones.
The Company also remains free to explore partnering opportunities
in all other areas of biology relating to IPF and fibrosis.
Ali Mortazavi, Chief Executive Officer of e-therapeutics,
commented: "We are delighted to report significant progress on our
collaboration with Galapagos, focused on the identification of both
targets and small molecules in IPF. This constitutes further
recognition of the impact of our computational platform in an area
of high unmet medical need. Our proprietary drug discovery platform
can unlock indications, therapeutic areas and mechanisms that are
challenging to carry out discovery in and shed light on complex
human biology, significantly increasing the efficiency of the
R&D process at the foundational stages."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act
2018.
Enquiries:
e-therapeutics plc
Ali Mortazavi, CEO Tel: +44 (0)1993 883
Laura Roca-Alonso, CBO 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 Galapagos NV
Galapagos NV discovers, develops and commercializes small
molecule medicines with novel modes of action. Galapagos'pipeline
comprises discovery through Phase 3 programs in inflammation,
fibrosis and other indications. The company's ambition is to become
a leading global biopharmaceutical company focused on the
discovery, development, and commercialization of innovative
medicines. More information at www.glpg.com.
About e-therapeutics plc
e-therapeutics plc is a UK-based company integrating
computational power and biology to accelerate the discovery of
life-transforming medicines. The Company has developed and
validated a powerful, disease and modality agnostic computational
approach to drug discovery, leveraging its industry-leading
expertise in network biology to fully capture and interrogate human
disease complexity.
The Company's multi-disciplinary team builds computational
models of biological functions to transform the search for new
medicines, interventions, mechanisms and genetic support. Its
biology-led in silico laboratory enables rapid hypothesis
generation and phenotypic screening of millions of compounds
leading to 100-1000x higher hit rates in the wet lab and successful
mode of action elucidation. Novel targets can also be identified,
prioritised and assessed. Harnessing internal target gene
discoveries, e-therapeutics is currently building an in-house
pipeline of RNAi based medicines, using its proprietary
GalNAc-siRNA technology.
e-therapeutics has deployed and validated its disease-agnostic
computational drug discovery platform both in house and with
partners, including Novo Nordisk, Galapagos NV and a US-based, top
5 pharmaceutical company.
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