Businessman checking stock market online

E-Therapeutics PLC (LON:ETX) says multiple proposals for its artificial intelligence-based drug research products have been sent to potential partners and customers.

The AIM-listed group has programmes running already using its network-driven drug discovery (NDD) platform and Genome Associated Interaction Networks (GAINs) with Danish pharma Novo Nordisk for type-2 diabetes.

Watch the interview: e-Therapeutics continuing to convert business development into cash generating partnerships

In August, it also announced a collaboration with an unnamed pharma major for a project looking at brain conditions such as Parkinson’s, Alzheimer’s and Huntington’s.

E-Therapeutics added that these collaborations have been structured so that it retains ownership of key data while enabling the output from its platforms to be tested in its partners’ in-house assays.

“We continue to believe that the best way to create significant incremental value is to generate proprietary pre-clinical data, particularly on our in-house novel therapeutic assets.

“In particular, we think that there is an exciting opportunity to develop our own datasets in other core disease areas using our new GAINs approach.

“In addition, as noted, we have also created detailed plans on the experiments we would do next on our existing portfolio of pre-clinical assets, particularly in the immuno-oncology space.” 

E-Therapeutics added it is also looking at alternative sources of funding, including ‘shared funding’ approaches.

Results for the six months to July showed efforts to pare down on costs paying off as operating losses dropped to £1.6mln (£2.8mln) with cash at the period end of £5.2mln (£5.9mln).

Ray Barlow, chief executive, said: “The business has continued to make good progress over the past six months and is continuing to convert the extensive work done in business development into a range of potential revenue and cash-generating partnerships.”

–Edited to add video link