Press Releases

Half-year results for the six months ended 31 January 2020

C4X Discovery Holdings plc

("C4XD", "C4X Discovery" or the "Company")

Half-year results for the six months ended 31 January 2020

Continued progress across Drug Discovery portfolio

29 April 2020 C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces its interim results for the six months ended 31 January 2020.

Dr Clive Dix, CEO of C4X Discovery, commented: “We continue to progress our portfolio, with our inflammatory programmes generating significant advances. In particular, our lead IL-17 oral compound has progressed into Lead Optimisation following recent data demonstrating inhibition of inflammation following oral dosing in pre-clinical disease models. Our collaborations with LifeArc and Horizon Discovery, along with results from our Taxonomy3® platform, provide compelling insights as the next wave of potential candidates continue to advance. As a result of discussions with potential partners for our NRF-2 activator programme, we intend to enhance the licensing package and add value with additional study data focused on candidate nomination, as we did with partnered programme, Orexin-1. With this enhancement of our NRF-2 programme, the licensing process timeline is difficult to predict,” Dr Dix added: “I am extremely proud that although our focus has been to ensure the safety and wellbeing of our employees they have risen to the challenges of progressing our business activities during these difficult times.

Operational highlights:

  • Indivior progress C4X_3256 for the treatment of opioid use disorder towards Phase 1 clinical trial
    • Awarded National Institutes of Health (“NIH”) grant to fund Phase I clinical trial and toxicology and drug metabolism studies to enable Phase 2 trials
    • Altasciences appointed to conduct Phase I clinical trial and IND filed with FDA in January 2020
  • NRF-2 activator programme progressing
    • Partner discussions demonstrate commercial interest
    • Candidate nomination studies initiated with three lead ‘shortlist’ molecules; additional studies underway
  • Continued progress across Drug Discovery portfolio, particularly in inflammation
    • Lead IL-17 inhibitor compound demonstrated significant inhibition of inflammation in pre-clinical disease models for the first time following oral dosing
    • Recent data has demonstrated oral bioavailability of C4XD series in LifeArc collaboration
    • Novel, potent and selective inhibitors identified for C4XD α4β7 integrin inhibitor series
  • Leading synthetic lethal oncology target identified from the Horizon Discovery collaboration poised for entry into colon cancer specific target validation studies
  • Taxonomy3® delivering compelling insights into Parkinson’s Disease (“PD”) targets
    • Positive readouts from the first biological validation studies
    • CRISPR knockout studies underway for further high potential drug targets prior to being examined in neuronal cell assays
  • Dr Robin Carr to lead C4XD Drug Discovery Advisory Network to identify new technologies and act as C4XD ambassadors

Financial highlights:

  • Successful fundraise of £7.6 million (before expenses) with a total of 50,573,808 shares issued to both new and existing shareholders
  • R&D investment was £3.6 million in the six months ending 31 January 2020, down £1.3 million from the £4.9 million in the six months ended 31 January 2019
  • Cash, cash equivalents, short-term investments and deposits at 31 January 2020 of £5.5 million (31 July 2019: £2.4 million and 31 January 2019: £9.2 million)
  • Net assets at 31 January 2020 of £10.3 million (31 July 2019: £7.0 million and 31 January 2019: £12.8 million)

-ENDS-

Analyst conference call today

Dr Clive Dix, Chief Executive Officer, and members of the management team will host a webcast for analysts at 11am BST today. A copy of the final results presentation will be released later this morning on the Company website at www.c4xdiscovery.com. Please contact Consilium Strategic Communications for details on This email address is being protected from spambots. You need JavaScript enabled to view it. / +44 203709 5700.