Manchester-based drug discovery company C4X Discovery Holdings plc said on Monday that “over the next 12-24 months” it will look to “advance and augment” its portfolio to deliver “the next generation of high value, commercially attractive candidates to secure strategic collaborations with high quality partners …”

In April, subsidiary C4X Discovery Limited signed an exclusive worldwide licensing agreement with Sanofi for C4XD’s IL-17A oral inhibitor programme worth up to €414 million.

Announcing its full-year results for the year ended July 31, 2021, C4X Discovery said revenue was £5.6 million (2020: nil) and total loss after tax of £3.8 million (2020: £7.8 million loss).

C4X Discovery CEO Clive Dix said: “2021 has been a tremendous year of progress for C4XD across our entire portfolio, culminating in the signing of our second major licensing deal with a global pharma company. 

“The €414 million agreement with Sanofi for our IL-17A oral inhibitor programme further demonstrates the value of our Drug Discovery expertise and business model of driving shareholder value through early-stage revenue generating deals.

“There is also significant partnering interest in NRF2 …

“As we approach 2022, the successful £15 million financing in autumn 2020, along with a roadmap of potential cash milestones over the next 24 months, allows us to advance and broaden our portfolio as we look to build long-term value for shareholders.”