Interim Results for the six months ended 31 January 2018


C4X Discovery Holdings plc

(“C4XD”, “C4X Discovery” or the “Company”)

Interim results for the six months ended 31 January 2018

12 April 2018 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering drug discovery company, today announces its interim results for the six months ended 31 January 2018.

Corporate highlights:

Deal update

  • On 29 March 2018, post-period end, C4XD announced a licensing deal with Indivior worth up to $294 million for C4XD’s oral Orexin-1 receptor antagonist for the treatment of addiction, receiving $10 million upfront. The treatment of addiction represents a substantial area of unmet medical need, forecast to be worth an estimated $13 billion per annum in 20181.

Discovery Engine progress

  • Following the out-licensing of C4XD’s IND-ready Orexin-1 programme to Indivior, the Company now has three lead drug discovery programmes showing in vivo activity, opening up a path to candidate selection and opportunity to progress to partnering discussions.
  • C4XD’s proprietary drug asset portfolio of ten programmes across a number of therapeutic areas, including inflammation, neurodegeneration, immuno-oncology, addiction and diabetes, has progressed towards revenue generation.

Innovative technologies to advance drug development

  • A new version of the Taxonomy3® software was released in late 2017 which has doubled the analysis speed for gene-gene interaction and continued investment in the software will result in C4XD being capable of analysing six disease datasets per annum.
  • C4XD has initiated the creation of a specialised visualiser (“4Sight”) to allow the viewing of C4XD’s proprietary 4D molecular data to provide a revolutionary way of viewing and comparing molecules in a virtual world utilising the latest VR technology.
  • 4Sight has been chosen as a case study for Immerse UK which is supporting the UK in becoming the global leader in the application of immersive technologies.

Financial highlights:

  • Investment in R&D was £3.4 million in the six months ending 31 January 2018, up £0.4 million from the £3.0 million in the six months ended 31 January 2017 reflecting progress across the portfolio.
  • Cash, cash equivalents, short-term investments and deposits at 31 January 2018 of £1.4 million (31 July 2017: £2.2 million and 31 January 2017: £6.0 million).
  • Net assets at 31 January 2018 of £6.2 million (31 July 2017: £10.1 million and 31 January 2017: £6.9 million).

Post-period end

  • Post-period end an R&D tax credit of £1.7 million and the upfront payment from Indivior of £7.1 million ($10.0 million) have been received.

Dr Clive Dix, CEO of C4X Discovery, said: “The recent period has seen C4XD make significant progress towards our goal of becoming the world’s most productive, self-sustaining drug discovery engine. We have strengthened our portfolio of pre-clinical assets aimed at meeting the pharma industry’s increasing demand for high quality early-stage drug candidates and now have a number maturing towards potential out-licensing discussions, with three in particular gaining momentum and commercial interest. The post period completion of the deal with Indivior validates our business model and serves as a solid foundation on which to build towards additional high-value licensing agreements for our portfolio, existing and future.”

1. Source: GBI Research 2012

Analyst conference call today

Clive Dix (Chief Executive Officer), Brad Hoy (Chief Financial Officer) and Craig Fox (Chief Scientific Officer) will present the results at 10:00am BST on 12 April 2018 during a live conference call and webcast. A copy of the final results presentation will be released later this morning on the Company's website at

Dial-in details are:

Participant local dial-in: +44 (0)330 336 9411

Participant free phone dial-in: 0800 279 7204

Participant code: 2785155

To access the audio webcast, please follow this link.

An audio replay file will be made available shortly afterwards via the Company website:

Download the interim financial report below.