C4X Discovery focused and funded after £15.95mln strategic divestment
London, UK
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August 07, 2023 08:01 AM Eastern Daylight Time
C4X Discovery Holdings PLC (AIM:C4XD) chief business officer Bhavna Hunjan and chief scientific officer Nick Ray speak to Thomas Warner from Proactive after the drug discovery company announced what it calls the strategic divestment of its Orexin-1 receptor antagonist programme to Indivior PLC (LSE:INDV) for £15.95mln.
In the divestment, C4X Discovery has sold the proprietary rights to its Orexin-1 antagonist programme for substance use disorders, including the lead candidate INDV-2000, to Indivior. This allows the company to crystallise the value of the programme, providing non-diluted funding for its future platform strategy.
Bhavna Hunjan explains that the deal offers an opportunity to realise the value of the programme sooner, aligning with their focus on immuno-inflammatory diseases and providing valuable non-dilutive funding for the company.
Nick Ray adds that the divestment is in line with their strategy to move forward as an immuno-inflammatory focused company. He reveals more about the company's pipeline, saying that good progress is being made toward the clinic with their lead programme and have several early-stage projects that will be further developed and disclosed to the public when ready.
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Proactive UK Ltd
+44 20 7989 0813
