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TMCNet:  e-Therapeutics' Full Year Results for the 12 Months Ended 31 January 2014

[May 12, 2014]

e-Therapeutics' Full Year Results for the 12 Months Ended 31 January 2014

OXFORD & NEWCASTLE, United Kingdom --(Business Wire)--

e-Therapeutics plc (AIM:ETX), the drug discovery and development company, today announces its full year results for the 12 months ended 31 January 2014.

Operational highlights

Positive interim results from lead cancer drug ETS2101

  • Phase I trial in brain cancer, five dose escalation steps completed, no serious drug-related adverse events
  • Post year end
    • Phase I study with oral formulation commenced in healthy volunteers; completion expected Q4 2014
    • Temporary halt of recruitment to trial due to drug storage issues now reversed in both the UK and US
    • Positive interim results achieved from UK study in a variety of solid tumours; well tolerated, no further occurrence of dose-limiting fatigue and early evidence of possible retarding of tumour progression

Progress and decisions on other programmes

  • Commencement of Phase IIb trial of ETS6103 in major deprssive disorder
  • Positive preclinical data for ETX1153c against C.difficile; search for development partner ongoing


Increased resource applied to drug discovery using Network Pharmacology

  • Expansion of discovery and informatics capabilities in Oxford complete and operating fully
  • A number of discovery projects in in vitro testing

Financial highlights

  • Successful fund raising of £40 million (gross) with support from Invesco and Aviva, providing runway through to 2019 to support multiple efficacy studies of ETS2101 and further build the pipeline
  • Cash and liquid resources of £43.1 million at 31 January 2014 (31 January 2013: £9.8 million)
  • Full year loss before tax of £6.1 million (FY 2013: loss of £5.0 million) as investment continues into clinical and development pipeline
  • Post year end, appointment of new Finance Director, Steve Medlicott

Commenting on the results, Professor Malcolm Young, CEO of e-Therapeutics, said:

"e-Therapeutics is making substantial progress in our clinical programmes and in discovery, with four clinical trials ongoing in the UK and US that are expected to generate further data in the next period. Financially, the Company is well capitalised, with solid support from its investors, and operationally, both locations in Oxford and Newcastle are fully resourced and operating well. Consequently we have a clear, unobstructed road forward on which to progress and the next few years hold significant promise for the Company."

For the full release, please visit the company website at www.etherapeutics.co.uk.


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