e-Therapeutics plc
('e-Therapeutics' or 'the Company')
Directorate Change
Oxford, UK, 13 July 2016 - e-Therapeutics plc (AIM:ETX) announced today that Professor Malcolm Young is standing down as Chief Executive Officer with immediate effect and has resigned as a director of the Company. Professor Young has agreed to be available to provide occasional assistance to the Board for the next 6 months.
Iain Ross, Chairman said:
"Malcolm founded this Company in 2003 and has worked tirelessly to build its scientific base. Since 2007 as CEO he has led significant funding rounds and developed the business and the scientific team to the point where we have an exciting and productive discovery platform, which we believe can now be commercialized and partnered. He leaves the Company with our thanks and best wishes for the future."
Professor Young said:
"I am enormously proud to have delivered a drug discovery platform that is now mature and reliable. Armed with a leading discovery platform and maturing assets, the Company is now well placed for securing partnerships around these strong capabilities and assets."
The Company intends to make a further announcement outlining additional organisational changes.
-Ends-
Contacts:
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e-Therapeutics plc Iain Ross, Chairman Steve Medlicott, Finance Director
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Tel: +44 (0) 1993 883 125
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Numis Securities Limited Michael Meade / Freddie Barnfield (Corporate Finance) James Black (Corporate Broking)
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Tel: +44 (0) 207 260 1000
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Instinctif Partners Melanie Toyne Sewell |
Tel: +44 (0) 207 457 2020 |
About e-Therapeutics plc
e-Therapeutics (AIM: ETX) is a drug discovery company with a proprietary discovery platform based on advances in network pharmacology and chemical biology.
The Company is applying its platform to the discovery of new drug candidates. The therapeutic focus of the Company's activity is in immuno-oncology, addressing drug resistance in targeted cancer therapies and anti-infectives. The platform is highly productive, yielding multiple potent and selective molecules at a much higher rate and more quickly than is reported for conventional drug discovery.
e-Therapeutics has a variety of preclinical stage assets, including ETX1153c, a functionally resistance-less antibiotic; ETS2300, telomerase inhibition in anti-cancer; ETS3100, small molecule anti-TNFα; ETS2400, Hedgehog pathway inhibition and ETS5200, broad spectrum antivirals. The Company has recently completed a phase IIb clinical trial for ETS6103, a drug to treat major depressive disorder.
The Company is fully funded to advance its drug discovery programmes. It is based in Oxford and Newcastle, UK. For more information, visit www.etherapeutics.co.uk.
