New CEO Dr Ray Barlow, who joined E-Therapeutics (LON:ETXP) in April, has undertaken a business and strategic review, assisted by an independent industry-wide expert panel.
The portfolio has been rationalised from six to two preclinical immuno-oncology programmes; two programmes are available for out-licensing, while data will be published on two others to showcase and validate the proprietary network pharmacology discovery platform. This will secure ETX’ cash runway comfortably to the end of 2019, free capacity to add new programmes in H217 and enable further investment in the platform. The management team is now focused on external collaborations and partnerships to provide validation and generate revenue. ETX's attendance at industry conferences, including one in Boston this week, will help to raise its profile.
Expert panel confirms utility of ETX’s approach
Dr Barlow’s significant business development experience is driving the ongoing transformation at ETX. His ‘root and branch’ review of the company included the views of an independent panel of industry experts with scientific/commercial backgrounds at Astrazeneca (NYSE:AZN), Pfizer (NYSE:PFE), Merck (NYSE:MRK) and biotechs. It confirmed the productivity of the network-driven discovery (NDD) approach and its potential advantages in terms of time (nine months or less from concept to hits vs >24 months by standard methods), cost, and number/quality of output molecules.
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