REG - e-Therapeutics plc - Key Milestone Achieved on Galapagos Collaboration

E-TherapeuticsAnnouncement

12/04/2022 07:01

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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,                                                                        Tel: +44 (0)1993 883 125
 CEO

                                                                                     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 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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