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C4X Discovery Holdings

Termination of coverage

Update | Pharmaceutical & healthcare | 09 Aug 2017

Edison Investment Research is terminating coverage on C4X Discovery Holdings (C4XD). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

C4X Discovery Holdings

Strategic collaboration with Evotec

Flash note | Pharmaceutical & healthcare | 29 Sep 2016

C4X Discovery has announced a new strategic collaboration with Evotec, which builds on a previous agreement (January 2015) to develop new small molecule drugs across a range of targets, therapeutic areas and stages of development. The agreement is a risk-shared multi-target programme. This is a positive development and builds on the recent fund-raising (£5.0m before expenses via a placing of 4.9m new shares, at 102p) as it enables outputs from its drug discovery engine and its preclinical pipeline to progress.

C4X Discovery Holdings

Financing enables C4X to drive strategy forward

Flash note | Pharmaceutical & healthcare | 06 Sep 2016

C4X Discovery has announced that it has raised £5.0m before expenses via a conditional placing of 4.9m new shares, at a placing price of 102p. This represents a c 4.2% discount to the closing price of 106.5p (on 5 September). It is positive news as it provides the company with sufficient funds to continue driving forward its strategy of becoming a highly efficient and productive drug discovery engine and continue building its existing pipeline of five preclinical assets with the aim of tripling the pipeline in three years' time.

C4X Discovery Holdings

A more refined approach

Update | Pharmaceutical & healthcare | 29 Mar 2016

C4X's interims revealed a refinement of its hybrid business model, whereby it will stop offering access to its drug discovery technology on a fee-for-service basis, instead seeking to strike more strategic and collaborative agreements with pharma/biotech partners. The recent £1.67m acquisition of Adorial, with an innovative technology to help identify novel drug targets, could significantly enhance and accelerate C4X's drug discovery capabilities. With £5m in cash as of 31 January 2016, and operating costs on the rise to support pipeline and technology development, we anticipate a fresh financing in H216.

C4X Discovery Holdings

Adorial augments novel drug discovery

Flash note | Pharmaceutical & healthcare | 02 Mar 2016

C4X Discovery's £1.67m purchase of Adorial provides access to a technology platform that should enable C4X to accelerate the identification of novel drug targets and associated development of small molecule drugs. The deal complements C4X's rational drug design technology and fits its strategic ambition of becoming a highly efficient and productive drug discovery engine, targeting up to 15 new development projects over the next three years.

C4X Discovery Holdings

Safer, better, faster

Initiation | Pharmaceutical & healthcare | 05 Jan 2016

C4X Discovery's (C4XD) proprietary drug discovery platform allows the accurate measurement of molecular shapes in solution enabling improved and accelerated drug discovery. It has five programmes targeting validated clinical targets, with plans to add substantially to these in the next couple of years. The Orexin programme's lead candidate, a selective OX1 antagonist, is in formal preclinical studies with clinical development anticipated by mid-2017. We suggest that the potential of this programme alone largely supports the current valuation, indicating that significant potential upside value is not yet ascribed.

C4X Discovery Holdings

Rational drug design

QuickView | Pharmaceutical & healthcare | 23 Sep 2015

C4XD is developing its own pipeline of drug discovery programmes. The addiction programme's lead candidate, a selective OX1 antagonist, is in formal preclinical studies. Two further programmes are expected to show preclinical proof of concept by the year-end. The proprietary technology platform enables improved and accelerated drug discovery based on conformational design of solution structures. Collaborations with pharma and research companies on novel drug programmes provide both platform validation and steady, albeit modest, revenues (£0.6m in 2014).