For immediate release 28 September 2016
This announcement contains inside information
C4X Discovery Holdings plc
("C4XD" or the "Company")
C4X Discovery Enters New Strategic Collaboration with Evotec
C4X Discovery builds on previous agreement with Evotec on broad, innovative drug discovery portfolio
C4X Discovery Holdings plc (AIM: C4XD), an innovative drug discovery engine, today announces that the Company has entered into a multi-target, risk-sharing alliance ("the Agreement") with Evotec AG ("Evotec"), a leading drug discovery alliance and development partnership company. The new Agreement builds on the strategic collaboration between the two companies announced in January 2015 and will see C4XD and Evotec work together to develop new small molecule drugs across a range of targets, therapeutic areas and stages of development, with the initial programmes targeted towards the treatment of cancer and autoimmune diseases.
This new, longer-term strategic alliance will be a risk-shared multi-target programme with a minimum of three projects active at any point in time. As part of the Agreement, Evotec will apply its extensive assay and screening technologies, laboratory scientists and medicinal chemistry know-how to selected C4XD programmes, in return for funding to partially cover operational costs, milestones dependent on developmental success and a share of potential future royalties.
Each programme will run until the point of Potential Development Candidate ("PDC") nomination, after which C4XD, which retains all IP, will have the right to out-license successful projects to the pharma industry or proceed itself to clinical studies on a case-by-case basis, as per its existing model. Financial terms have not been disclosed.
This collaboration is consistent with C4XD's approach to drug discovery whereby target identification and validation, compound design and optimisation, and critical-path planning are conducted in-house, while those activities that require laboratory infrastructure and technically specialised staff - such as chemical synthesis, assay development, compound screening and conduct of disease models - are partnered with specialised providers. However, in Evotec, C4XD gains not only a partner with significant know-how and expertise in the target and therapeutic areas C4XD is pursuing, but one with common developmental and commercial goals and the financial strength to share developmental risk with C4X, thereby reducing near-term cost while increasing the potential output of C4XD's drug discovery engine.
Evotec is listed in Germany on Xetra with a market capitalisation of more than €600m and, in 2015, €127.7m in revenues. The company has the largest chemistry operation in the whole of the UK life-sciences sector, including large pharma, and counts among its clients most of the world's top-20 pharmaceutical companies.
Commenting on the strategic collaboration, Clive Dix, CEO of C4X Discovery, commented: "We are delighted to expand on our successful relationship with Evotec through this alliance that is designed to support us in achieving our vision of becoming the world's most productive drug discovery engine. This new long-term Agreement is a step change from our previous collaboration as now the risk of small molecule development will be shared as we progress candidates towards the clinic. We have already identified the first three small molecule targets and the combination of our unique technologies and the infrastructure and expertise that Evotec has in place will enable us to accelerate the development of novel small molecule drug candidates."
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are very pleased to continue and expand the broad-based drug discovery collaboration with C4XD. This integrated drug discovery deal showcases our broad target class expertise coupled with our industry leading platform, which perfectly complements C4XD`s technology and expertise. We look forward to a fruitful collaboration with our scientific colleagues and friends at C4XD."
No financial details were disclosed.
For further information, please contact:
C4X Discovery Holdings plc
Clive Dix, Chief Executive Officer 07801 865803
Zeus Capital Limited
Dan Bate 0161 831 1512
Dominic Wilson/Phil Walker 0203 829 5000
Consilium Strategic Communications
Mary-Jane Elliott, Chris Gardner, Matthew Neal, Melissa Gardiner 0203 709 5700
About C4X Discovery
C4X Discovery aims to become the world's most productive drug discovery engine by exploiting cutting edge technologies to design and create best-in-class small-molecule candidates targeting a range of high value therapeutic areas.
Since the Company's successful AIM IPO in October 2014, C4X Discovery has made considerable progress across its in-house pipeline in addiction, diabetes and inflammation with a number of new drug candidates identified and further progress made towards the clinic. C4X Discovery now has five therapeutic projects underway.
The Company has two proprietary and synergistic software platforms, "Taxonomy3®" and "Conformetrix", that provide a significant competitive advantage when combined with an experienced management team. "Taxonomy3®" is a human genetics analysis platform that utilises a unique mathematical approach to discovery and validation of drug targets for the treatment of a variety of diseases. "Conformetrix" determines the 3D shape of drug molecules from experimental in vitro data giving medicinal chemists new and unprecedented insights into the behaviour and physical properties of drug molecules. This enables the rapid design and discovery of better and safer drugs for diseases with high unmet medical need across broad therapeutic areas. C4X Discovery's drug discovery engine was further strengthened by the acquisition of technologies from Molplex Ltd, in 2016, which included a software-based system which combines chemoinformatics, computational chemistry and artificial intelligence to optimise the drug discovery process.
The Company was founded as a spin-out from the University of Manchester and has a highly experienced management team and Board who have delivered significant value creation within the healthcare sector historically. For additional information please go to: www.c4xdiscovery.com
About Evotec AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology and infectious diseases. On this basis, Evotec has built a broad and deep pipeline of more than 70 partnered product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and development partnerships with e.g. Janssen Pharmaceuticals in the field of Alzheimer's disease, with Sanofi in the field of diabetes and with Pfizer in the field of tissue fibrosis. For additional information please go to www.evotec.com.
This information is provided by RNS