Full Year Results


[vc_row unlock_row_content=”yes” row_height_percent=”0″ override_padding=”yes” h_padding=”6″ top_padding=”7″ bottom_padding=”3″ back_image=”82811″ back_repeat=”no-repeat” back_position=”right top” overlay_alpha=”90″ gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ back_size=”400px”][vc_column width=”2/3″][vc_empty_space empty_h=”2″][uncode_info_box items=”Date,Categories|do_not_display_prefix”][vc_custom_heading auto_text=”yes” heading_semantic=”h1″ text_font=”basis-grotesque” text_size=”fontsize-155944″ text_weight=”700″ text_color=”color-399881″ css_animation=”left-t-right”][/vc_custom_heading][vc_column_text]C4X Discovery Holdings plc

(“C4XD”, “C4X Discovery” or the “Company”)

Full Year Results

Building out the C4XD portfolio, driving early innovation and advancing near-term programmes[/vc_column_text][vc_separator sep_color=”color-119415″ el_width=”100%” el_height=”1px”][vc_column_text]7 January 2020 – C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces its full year results for the year ended 31 July 2019.

Dr Clive Dix, CEO of C4X Discovery, said: “2019 was a year of building out the C4X Discovery portfolio and advancing our drug discovery programmes to create a sustainable pipeline of potential revenue-generating assets. As momentum continues to build across our key programmes, we remain confident in our business strategy with partner discussions to date confirming commercial interest for our NRF-2 programme. This follows our already out-licensed Orexin-1 programme which is progressing to clinical studies with Indivior. Now in 2020, we will continue to advance the next wave of potential out-licensing candidates and to drive forward partnering deals to create value for our shareholders. With the business in a strong position, we are excited by our future prospects as we focus on building our pioneering Drug Discovery company towards sustainability.”

Highlights (including post-period end)

Financial

  • Revenue was £nil (2018: £7,064,000 driven entirely by the Indivior licensing agreement in 2018)
  • R&D expenses increased 51% to £10,585,000 (2018: £6,992,000), reflecting the Company’s planned increase in drug discovery investment and continued development of lead drug candidates
  • Total loss after tax was £10,912,000 or 18.82 pence per share (2018: £1,135,000 or 2.34 pence per share)
  • Total funds raised of £17.7 million (gross) in two tranches:
    • October 2018, raised £10.1 million (before expenses) from both new and existing investors
    • Post period, November 2019, raised £7.6 million (before expenses) via a placing, subscription by directors and open offer

Operational

Advancing the next wave of out-licensing opportunities

  • Continued progress across C4XD’s proprietary portfolio of 11 drug discovery programmes in multiple therapeutic areas including neurodegeneration, oncology and inflammation
  • Partnering process for oral NRF-2 activator programme launched with discussions to date confirming commercial interest for NRF-2 in Sickle Cell Disease (SCD) and Pulmonary Arterial Hypertension (PAH)
  • Post-period end, Indivior awarded a National Institutes of Health (NIH) HEAL grant to take C4XD’s Orexin-1 antagonist candidate, C4X-3256, into a Phase 1 clinical trial for the treatment of opioid use disorder

Collaborating to advance our Discovery Engine

  • Four new synergistic strategic partnerships to expand core state-of-the-art target identification platform, drug design capabilities and drug discovery portfolio
  • Lead target identified in Horizon Discovery (“Horizon”) collaboration nearing progression into a C4XD drug discovery programme
  • Dr Robin Carr to head newly formed C4XD Drug Discovery Advisory Network to identify new technologies and act as the Company’s ambassadors within the Biotech and Pharmaceutical industry

Analyst conference call today

Dr Clive Dix, Chief Executive Officer, and members of the management team will host a webcast for analysts at 11am GMT today. A copy of the final results presentation will be released later this morning on the Company website at www.c4xdiscovery.com. Please contact Consilium Strategic Communications for details on C4XDiscovery@consilium-comms.com / +44 203709 5700.

The Annual Report will be sent to shareholders prior to the Annual General Meeting on 31 January 2020.

[/vc_column_text][vc_empty_space empty_h=”2″][vc_accordion typography=”yes” sign=”plus” el_class=”style-color-586707-bg unshadow-sm unradius-xl” active_tab=”#”][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Contact Information” tab_id=”1626774575-1-0″][vc_row_inner][vc_column_inner width=”1/1″][vc_column_text]C4X Discovery Holdings plc

Mo Noonan, Communications+44 (0)7876 444 977

Panmure Gordon (UK) Limited (NOMAD and Broker) +44 (0)20 7886 2500

Freddy Crossley, Emma Earl (Corporate Finance)
Rupert Dearden (Corporate Broking)

Consilium Strategic Communications

Mary-Jane Elliott, Chris Gardner, Matthew Neal +44 (0)203 709 5700[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”About C4X Discovery” tab_id=”1626774575-2-49″][vc_column_text]C4X Discovery (C4XD) aims to create the world’s most productive Drug Discovery engine by using cutting-edge technologies and expertise to efficiently deliver best-in-class small-molecule medicines to clinical partners for the benefit of patients. The Company’s business model focuses on replenishing big pharma discovery pipelines and driving returns through revenue generating pre-clinical licensing deals. In 2018, C4XD successfully out-licensed a pre-clinical programme in addictive disorders to Indivior in a deal worth up to $294m.

C4XD has a state-of-the-art suite of proprietary technologies across the Drug Discovery process and accesses further innovative capabilities and expertise through its growing network of partners. The Company is actively advancing its diverse pre-clinical discovery portfolio which is focused on inflammation, neurodegeneration and oncology (including immuno-oncology). Opportunities to maximise value from the portfolio are proactively driven by C4XD’s commercial division. The Company is led by a highly experienced management team and Board who have delivered significant value creation within the healthcare sector.

For additional information please go to:www.c4xdiscovery.com[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=” Important Notices” tab_id=”1631183866023-2-2″][vc_column_text]The person responsible for arranging the release of this announcement on behalf of the Company is Bradley Richard Hoy, a director of the Company

IMPORTANT NOTICES

Panmure Gordon (UK) Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (the “FCA”), is acting as Nominated Adviser and broker to the Company for the purposes of the AIM Rules for Companies and the AIM Rules for Nominated Advisers in connection with the Placing and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of Panmure Gordon (UK) Limited or for advising any other person on any transaction or arrangement referred to in this Announcement.[/vc_column_text][/vc_accordion_tab][/vc_accordion][vc_empty_space empty_h=”2″][vc_button button_color=”color-399881″ size=”btn-lg” radius=”btn-circle” hover_fx=”full-colored” custom_typo=”yes” font_family=”basis-grotesque” font_weight=”600″ border_width=”0″ link=”url:https%3A%2F%2Fwww.c4xdiscovery.com%2Fwp-content%2Fuploads%2F2021%2F09%2FPrelim_Results_7_Jan_2020_1.pdf|target:_blank”]Download[/vc_button][/vc_column][vc_column column_width_percent=”100″ gutter_size=”3″ font_family=”basis-grotesque” overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1/3″][vc_empty_space empty_h=”2″][vc_empty_space empty_h=”5″][vc_widget_sidebar use_widget_style=”yes” widget_collapse=”yes” widget_collapse_tablet=”yes” widget_style_title_typography=”inherit” widget_style_no_arrows=”yes” sidebar_id=”sidebar-112841″][/vc_column][/vc_row][vc_row unlock_row_content=”yes” row_height_percent=”0″ override_padding=”yes” h_padding=”6″ top_padding=”2″ bottom_padding=”4″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″][vc_column width=”1/1″][uncode_index el_id=”index-190960″ index_type=”carousel” loop=”size:12|order_by:date|post_type:post|taxonomy_count:10″ auto_query=”yes” auto_query_type=”related” carousel_lg=”3″ carousel_md=”3″ carousel_sm=”1″ thumb_size=”four-three” gutter_size=”3″ post_items=”media|featured|onpost|original,category|yesbg|relative|hide-icon,date,title” carousel_interval=”3000″ carousel_navspeed=”400″ stage_padding=”0″ single_shape=”round” radius=”xl” single_overlay_opacity=”50″ single_padding=”2″ single_title_family=”basis-grotesque” single_title_dimension=”fontsize-122203″ single_title_weight=”700″ single_shadow=”yes” single_border=”yes”][/vc_column][/vc_row]