e-therapeutics announces completion of £28.90 million fundraise
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JP Jenkins Ltd
3rd July 2024 ISIN: GB00B2823H99 JPJ:ETX
e-therapeutics plc ("e-therapeutics" or "ETX" or the "Company")
e-therapeutics announces completion of £28.90 million fundraise
London, UK, 3 July 2024 - e-therapeutics plc, a company integrating computational power and biological data to discover life-transforming RNAi medicines, is pleased to announce that it has completed its £28.90 million fundraise by way of a subscription by funds managed by M&G Investment Management Limited and Richard Griffiths and his controlled undertakings, both existing shareholders of the Company. The Subscription by M&G was conditional upon clearance under the National Security and Investment Act 2021, which is now complete.
The proceeds from the fundraise will be used to advance multiple GalOmic™ pipeline assets towards the clinic and initiate clinical trials on one program. The Company also plans to use the proceeds to keep its early pipeline well populated and accelerate development and integration of cutting-edge AI systems into its HepNet™ computational platform. Additionally, the Company will explore the option of listing on NASDAQ in due course.
Following the allotment and issue of shares, the Company has 777,002,154 ordinary shares of 0.1 pence each in issue each with voting rights in the Company.
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About e-therapeutics plc
e-therapeutics plc ("ETX") uniquely combines computation and RNAi to discover and develop life-transforming medicines. ETX's proprietary RNAi chemistry platform, GalOmic™, enables generation of specific, potent, and durable siRNA therapeutics for effective silencing of novel gene targets in hepatocytes. The cutting-edge HepNet™ computational platform allows ETX to discover better medicines faster through generation of novel insights and increased automation across all stages of drug development. HepNet™ encompasses an extensive hepatocyte-specific knowledgebase and a suite of advanced AI-driven approaches which enable identification of novel gene targets, rapid target-indication assessment, and predictive in silico siRNA design. The Company has specialist expertise and a robust position in applying computation to biology. Its computational approaches have been extensively validated through generation of data from pipeline programs and successful drug discovery collaborations with biopharma companies, such as Novo Nordisk, Galapagos NV, and iTeos Therapeutics.
Leveraging the combined capabilities of HepNet™ and GalOmic™, ETX is progressing a therapeutic pipeline of highly differentiated RNAi candidates across a variety of therapeutic areas with high unmet need. The Company has generated positive proof-of-concept data on preclinical assets in metabolic dysfunction-associated steatohepatitis (MASH), dry age-related macular degeneration (dry AMD), haemophilia, heart failure, and cardiometabolic disease, further validating its computationally enhanced approach to research and development. ETX is currently progressing its GalOmic™ therapies towards the clinic with its most developed assets, ETX-312 for MASH and ETX-407 for dry AMD, at the IND-enabling stage.
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