e-Therapeutics plc Further milestone in Galapagos collaboration (9219D)
02 Julio 2021 - 1:00AM
UK Regulatory
TIDMETX
RNS Number : 9219D
e-Therapeutics plc
02 July 2021
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 Tel: +44 (0)1993 883
Karl Keegan, CFO 125
Laura Roca-Alonso, CBO 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.
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