E-THERAPEUTICS TO WORK WITH TOP 5 GLOBAL PHARMA COMPANY ON NEURODEGENERATION DRUG DISCOVERY PROJECT
Oxford, UK, 13th August 2019 - e-therapeutics plc (AIM: ETX, "e-therapeutics") is pleased to announce an agreement to work with a global, top five pharmaceutical company, on a project in a specific area of biology associated with neurodegenerative diseases.
Neurodegeneration occurs when there is progressive loss of structure or function of neurons and can lead to a number of debilitating diseases such as Parkinson’s, Alzheimer’s and Huntington’s.1 There are currently over one billion people globally affected by these conditions.2
Under the 12-month agreement, e-therapeutics will use its proprietary Network-Driven Drug Discovery (“NDD”) approach to identify novel disease pathways and small molecules, both of which have the potential to modulate the biology of interest. As part of the project, the company will test the compounds resulting from e-therapeutics’ NDD platform in its in-house assays.
Dr Ray Barlow, CEO at e-therapeutics, said: “We are thrilled to be working with one of the largest global pharma companies in an exciting area of disease biology where there is a significant unmet need. This deal will allow us to directly showcase our Network-Driven Drug Discovery (NDD) technologies to them and the work has the potential to generate new therapeutic assets to add to our existing portfolio. We continue to work on a number of different types of external collaborations and look forward to sharing further news during the remainder of the year.”
e-therapeutics will be reimbursed for certain costs it incurs during the execution of this work. Intellectual property rights and know-how from e-therapeutics have not been granted to the company and the results and inventions produced by e-therapeutics during the project will be the sole property of e-therapeutics.
The pharma partner has also a review period, during which time they will decide whether to negotiate a collaboration with e-therapeutics. In the absence of such an agreement, e-therapeutics will be able to use the results from this project.