Drug research business lands major deal

Drug research firm C4X Discovery has landed a licensing deal worth $294m and is aiming to become a world leader in its field.

The Manchester based company published its interim results and announced the licensing deal with US firm Indivior.

The company which has developed a drug for the treatment of addiction received $10 million upfront.

The treatment of addiction is forecast to be worth an estimated $13bn per year in 2018.

The firm invested £3.4 in research and development and has net assets of £6.2m.

Dr Clive Dix, chief executive of C4X Discovery, said: “The recent period has seen C4XD make significant progress towards our goal of becoming the world’s most productive, self-sustaining drug discovery engine.

“We have strengthened our portfolio of pre-clinical assets aimed at meeting the pharma industry’s increasing demand for high quality early-stage drug candidates and now have a number maturing towards potential out-licensing discussions, with three in particular gaining momentum and commercial interest.

“The post period completion of the deal with Indivior validates our business model and serves as a solid foundation on which to build towards additional high-value licensing agreements for our portfolio, existing and future.”

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