Partner Article

Drug firm on track despite losses

DRUG discovery and development group e-Therapeutics has posted pre-tax losses of £2.25m for the year to the end of January - up from £1.95m last time.

The Newcastle firm develops drugs to tackle cancers, asthma and depression and is in the process of extending its coverage to degenerative diseases such as Alzheimer’s as it moves closer to its aim of becoming a £100m-a-year company.

Chief executive Malcolm Young said: “2009 was a positive year for e-Therapeutics, which remains focused on maximising the commercial benefits of our proprietary drug discovery platform.

“Our technology and expertise position e-Therapeutics at the forefront of the growing and exciting network pharmacology arena.

“The pharmaceutical industry is increasingly recognising that drugs interact in multiple ways with proteins in the body, the medical consequences of which our network technology helps to predict.

“We therefore look ahead with confidence, as e-Therapeutics continues discussions aimed at further developing our own drug portfolio and deploying our unique de-risking technology commercially.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .