E-therapeutics (ETX) , a company that integrates computational power and biology information to discover RNAi medicines, announced its results for the six months to 31 July 2023.
e-therapeutics reported revenue of £0.2 million, largely tied to a significant milestone achieved in partnership with iTeos. The company spent £5.3 million on R&D, primarily allocated to outsourced Contract Research Organization (CRO) costs and investments in the computational and RNAi platforms.
Despite an operating loss of £7.0 million and a loss after tax of £5.6 million, e-therapeutics remains diligent in cash management, maintaining £24.8 million in cash and cash equivalents as of July 31, 2023.
In the period, e-therapeutics successfully transitioned into a RNAi biotech company. Its lead assets in cardiometabolic disease and hemophilia advanced to preclinical proof-of-concept experiments, serving as validation of e-therapeutics' HepNet™ computational platform and GalOmic™ chemistry platform.
The primary focus for e-therapeutics now is the advancement of HepNet™. By using generative AI and large language models, the company coming closer to next-level predictive capabilities, streamlining target identification and significantly reducing the time and cost associated with drug development.
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e-therapeutics plc integrates computational power and biology information to discover life-transforming RNAi medicines. The company's technology uses computation to capture and model human biology, identify novel targets, and develop RNAi medicines against those targets that can be rapidly progressed to the clinic.
Its proprietary platform HepNet™ extracts insights from a wide array of data sources, employing advanced network biology analytics to identify novel target genes for scalable therapeutic development, streamlining early discovery stages. HepNet™ addresses key limitations of the biopharmaceutical industry, including extracting value from big data, addressing complex diseases and improving translatability in R&D.
With a significant net cash balance, the company is well funded to take its impressive research through to commercial sales.
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