Half-year results 2022


This announcement contains inside information

C4X Discovery Holdings plc

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

Third proprietary programme advancing towards partnership

Expansion of portfolio with the addition of six new early-stage programmes

28 April 2022 – C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces its half-year results for the six months ended 31 January 2022.

Dr Clive Dix, CEO of C4X Discovery, said: Following the successful out-licensing agreement for our IL-17A inhibitor programme last year, we have continued to make substantial progress across our portfolio with our NRF2 programme now in advanced commercial discussions with multiple partners.  A strong focal point for the Company over the past six months has been to expand our portfolio.  The team has analysed over 80 opportunities and selective feasibility studies have led to six new projects entering our portfolio.  We are applying our rigorous assessment to ensure that each programme is scientifically viable, commercially attractive and has the potential to offer meaningful future returns to our investors.  With our next key programme advancing towards partnership, a strong and resilient approach to replenishing the pipeline and having strengthened our leadership during the period, we believe that C4XD is well positioned for ambitious future growth.”

Operational Highlights (including post-period events)

  • Indivior progressing the Phase 1 clinical trial of C4XD’s oral Orexin-1 receptor antagonist, C4X_3256, for addiction with preparations for multiple ascending dose study ongoing
  • C4XD’s second out-licensed programme, IL-17A inhibitor for inflammatory diseases, is making strong progress towards the next milestone with our partner Sanofi
  • Advanced commercial discussions with multiple potential partners for NRF2 activator programme for inflammatory diseases with pre-candidate nomination, preliminary safety and efficacy studies completed.
  • α4β7 integrin inhibitor programme for inflammatory diseases generated multiple chemical series showing activity and selectivity vs α4β1 matching or exceeding current clinical compounds
  • MALT-1 inhibitor programme for cancer transitioned into lead optimisation phase after demonstrating in vivo activity with multiple series
  • C4XD programme portfolio expanded with the addition of six early-stage pipeline programmes.  These are being resourced to achieve significant chemistry and biology progression milestones
  • Board appointments of Dr Mario Polywka as Non-Executive Director and Bhavna Hunjan as Chief Business Officer as Dr Harry Finch stepped down from the Board.  Dr Catherine Tralau-Stewart succeeds Craig Fox as Chief Scientific Officer

Financial Highlights

  • Revenue was £66,000 (January 2021: £nil)
  • Total loss after tax of £4.5 million or 1.98 pence per share (January 2021: £3.6m or 2.19 pence per share)
  • R&D expenses were £3.9 million (January 2021: £3.3m), reflecting focused investment in key Drug Discovery programmes
  • Net assets of £15.2 million (January 2021: £19.0m)
  • Net cash as at 31 January 2022: £11.7 million (31 January 2021: £15.4m)

Analyst webcast and conference call today

Dr Clive Dix, Chief Executive Officer, and members of the management team will host a webcast for analysts at 10am BST today.  The webcast can be accessed online at:

https://www.lsegissuerservices.com/spark/C4xDiscoveryHolding/events/be580a3b-99d2-433d-a6cc-82595bd2013d

A copy of the final results presentation will be released later this morning on the Company website at www.c4xdiscovery.com.

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

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