Manchester and London, UK, 27 April, 2015 – C4X Discovery Holdings plc (AIM: C4XD), a leader in the rational discovery design and optimisation of novel small molecule therapeutics, today announces its interim unaudited results for the six months ended 31 January 2015.
- Successful IPO on AIM completed in October 2014 raising £11.0 million before expenses
- Exciting progress on our lead Orexin programme, Orexin-1, validating C4XD's technology and the benefits of a conformational approach to drug design and optimisation
- Initiation of a research agreement with Evotec AG ("Evotec") to develop C4XD's follow-up Orexin compounds, further expanding C4XD's pre-clinical pipeline to treat addictive disorders
- Renewal of our existing collaborations with Evotec AG ("Evotec") and Takeda Cambridge Ltd ("Takeda"), providing them access to C4XD's conformational design technology
- Progress in applying our technology to the prediction of crystal polymorphs
- Cash, cash equivalents and deposits at 31 January 2015 of £9.4 million (31 July 2014: £0.7 million)
- Total assets at 31 January 2015 of £10.4 million (31 July 2014: £1.2 million)
"With the IPO, C4XD has secured the funding that enables us to progress our two leading programmes to clinical development stage," stated Clive Dix, Chairman of C4XD. "The support and confidence of our collaboration partners, AstraZeneca, Evotec and Takeda validates the C4XD drug discovery and development platform. I am delighted with the progress made since IPO and believe the business is well positioned to deliver future value for shareholders."
Download the interim financial report below.