What C4X does
To achieve this goal it is using cutting-edge technologies and expertise to efficiently deliver small-molecule (pharmaceutical) medicines.
It has a unique software platform for determining the flexible 3D shapes of drug molecules from experimental data.
This enables the rapid design and discovery of novel and potent drugs for diseases with high unmet medical need across broad therapeutic areas.
Unlike many drug companies, it looks to find partners at the pre-clinical phase, allowing big pharma to fund expensive human trials.
It successfully out-licensed its programme for addictive disorders to Indivior, receiving an upfront £7.7mln (US$10mln) and milestones of £227mln (US$294mln).
It is working on potential treatments for Parkinson’s, Alzheimer’s and inflammatory bowel disorders and it has numerous collaboration deals.
Below is the company’s drug pipeline
How it is doing
In June chief executive Clive Dix was appointed as a member and deputy chair of the steering board of the UK Vaccine Taskforce.
In May, the AIM-listed firm raised £1.6mln through an oversubscribed placing at 15p a throw to strengthen its balance sheet as its partnering and strategic collaborations progress and will boost working capital during the progression of its pipeline portfolio. C4X said the new funds should provide it with at least twelve months working capital.
In April C4X said its closely-watched NRF-2 activator programme for sickle cell disease and pulmonary arterial hypertension was down to a short-list of three molecules.
FTSE 250-listed drug group Indivior was preparing to take C4X’s treatment for opioid use disorder into the clinic as part of a deal worth US$294mln. Phase I and II studies will receive financial backing from the National Institutes of Health in the US.
At the same time, its high-value, early-stage drug candidate designed to inhibit interleukin-17, showed early encouraging signs in inflammation.
The six months to January ended with cash and equivalents of £5.5mln, while the value of its intellectual property was £10.3mln. Investment in research and development during the six months to January 31 was £3.6mln, down £1.3mln from a year ago. As would be expected from a company heavily focused on research, it was loss-making - to the tune of £4.89mln at the operating level, down from £6.26mln a year earlier.
What the boss says: Clive Dix, chief executive
"We would like to thank Polar Capital and our other new and existing investors for their active support of C4XD and continued belief in our vision."
"It is encouraging to see investor understanding of the ongoing long-term contribution of the life sciences industry and the value of innovative, early-stage drug discovery amidst the uncertainties generated by the COVID-19 pandemic."
"These additional resources will support our continuing scientific progress and commercial discussions across our portfolio."
- Clinical trial for the Orexin-1 programme with Indivior
- A partner for the NRF-2 activator programme with the company seeing commercial interest
- Partners for other projects under development