E-Therapeutics (LON:ETX) expects to generate a “wealth of data” from a clinical programme focusing on four drug candidates.
This pipeline was identified using a platform called network pharmacology and spans cancer, infections and psychiatry.
Having raised £16.6 million, the company is in a position to embark on an ambitious phase I and phase II trial programme, and has the funds to carry on until 2013.
The programme will look at ETS2101, a drug that promotes a phenomenon called apoptosis, or programmed death in cancer cells.
Alongside this it is carrying out further work on a drug to combat C.difficile called ETX1153c, and ETX1153a for hospital acquired infections. And it is developing an anti-depressant – ETS6103.
Each has been “re-purposed” using network pharmacology from an existing drug already on the market.
Chief executive Malcolm Young: “Our recent fundraising provided significant resources to invest in the business, allowing us to begin a second wave of drug discovery using our unique network pharmacology platform and to pursue clinical development of the most promising drugs from our first wave of discovery.
“Our clinical effort is now focused on four commercially attractive candidates spanning cancer, infections and psychiatry.
“With numerous trials set to report over the next two years and the prospect of new outputs from our discovery platform, we believe we are well placed to generate substantial value both in the near term and beyond.”
Young’s comments came as the company released its financial results for the year to January 31, which revealed the loss before tax rose £400,000 to £2.655 million.-Ian Lyall