e-Therapeutics plc ETX to receive two payments from Galapagos (3712W)
23 Abril 2021 - 1:00AM
UK Regulatory
TIDMETX
RNS Number : 3712W
e-Therapeutics plc
23 April 2021
e-therapeutics plc
("e-therapeutics" or the "Company")
e-therapeutics to receive two key milestone payments from
Galapagos
Oxford, UK, 23 April 2021 - e-therapeutics plc (AIM: ETX.L)
announces that it has met two key milestones in its collaboration
with Galapagos NV ("Galapagos"), a commercial stage company
specialised in the discovery and development of small molecule
medicines with novel modes of action, with a focus on inflammation,
fibrosis and kidney disease. In line with its collaboration
announced on 10 June 2020, the Company has met pre-defined
operational and success-based milestones, resulting in two payments
from Galapagos. Despite the global pandemic, the collaboration has
remained on schedule.
e-therapeutics' proprietary, disease-agnostic computational
platform centred around network biology enables in silico testing
of millions of therapeutic hypotheses. This technology offers a
solution to critical challenges in drug discovery through the
generation and interrogation of in silico models of biological and
disease processes. The Company leverages its platform to identify
active compounds with associated mechanistic information as well as
novel therapeutic targets.
Using its Network-driven Drug Discovery ("NDD") platform and
know-how, e-therapeutics has successfully identified hit compounds
against a specific biological process of interest to Galapagos
involved in idiopathic pulmonary fibrosis ("IPF") and potentially
in other fibrotic indications. Further to the initial computational
phase of the project, experimental testing of the computationally
predicted compound set was carried out in several relevant assays
and yielded a hit rate orders of magnitude higher than industry
standards for early phenotypic drug discovery. The companies will
now work to characterise these hits further.
Under the terms of the agreement with Galapagos, e-therapeutics
is eligible to receive additional milestone payments through
pre-clinical and clinical development as well as commercial
milestones. The Company 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: "e-therapeutics' ability to model human disease
processes effectively in silico addresses critical limitations of
the drug discovery process. Our deeper understanding of underlying
disease biology and ability to test millions of possible
therapeutic interventions computationally ahead of experimental
validation have the potential to mitigate late-stage, costly
failures in drug development. The progress made to date in our
collaboration with Galapagos to discover novel therapeutics in IPF
and fibrosis is yet another validation of our technology platform,
which can be applied to any therapeutic area."
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 Tel: +44 (0)1993 883
Karl Keegan, CFO 125 www.etherapeutics.co.uk
Laura Roca-Alonso, CBO
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.
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