C4X Discovery focused and funded after £15.95mln strategic divestment
August 07, 2023 at 05:33 pm IST
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C4X Discovery Holdings PLC (AIM:C4XD) chief business officer Bhavna Hunjan and chief scientific officer Nick Ray speak to Thomas Warner from Proactive after the drug discovery company announced what it calls the strategic divestment of its Orexin-1 receptor antagonist programme to Indivior PLC (LSE:INDV) for £15.95mln.
In the divestment, C4X Discovery has sold the proprietary rights to its Orexin-1 antagonist programme for substance use disorders, including the lead candidate INDV-2000, to Indivior. This allows the company to crystallise the value of the programme, providing non-diluted funding for its future platform strategy.
Bhavna Hunjan explains that the deal offers an opportunity to realise the value of the programme sooner, aligning with their focus on immuno-inflammatory diseases and providing valuable non-dilutive funding for the company.
Nick Ray adds that the divestment is in line with their strategy to move forward as an immuno-inflammatory focused company. He reveals more about the company's pipeline, saying that good progress is being made toward the clinic with their lead programme and have several early-stage projects that will be further developed and disclosed to the public when ready.
Contact Details
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
C4X Discovery Holdings plc is a drug discovery company. The Company has a portfolio ranging from early-stage target opportunities to late-stage drug discovery programs. The Company has three commercially partnered programs with one candidate in clinical development. Its portfolio focuses on treatments for immuno-inflammatory diseases. The Companyâs pipeline products include MALT-1 Inhibitor, a4B7 Integrin Inhibitor, IL-17A Inhibitor, NRF-2 Activator, and others. Its target identification platform (Taxonomy3) is used to analyze complex genetic datasets to identify and characterize drug target candidates. Taxonomy3 offers the potential for patient stratification in clinical trials, ensuring patient targeting and the potential for rescuing failed clinical trials or for drug repurposing. PatientSeek is its new platform that applies the mathematical approach of Taxonomy3 to stratify patients for treatments based on their genetics.
C4X DISCOVERY HOLDINGS PLC 
