e-Therapeutics fast to get products on sale soon

Jun 30 2010 by Karen Dent, The Journal

NORTH East pharmaceuticals company e-Therapeutics is aiming to have its first drugs on the market within the next two years.

The firm, originally spun-out from Newcastle University in 2001, says an anti-depressant developed with KLab in India is likely make it through the various regulatory hoops by late 2011/early 2012.

e-Therapeutics, which has a staff of 15 in the North East and works with 25 clinicians based in India, is also developing a range of specialist drugs in-house.

Chief executive Professor Malcolm Young, said: “[They] are niche areas where the regulation is likely to be fast-tracked and we will do that ourselves. Then it depends – if some of these niche fast tracks go well, they will probably be the next [on the market] in 2012/13.”

The company, which has raised £4.5m in investment in the last 12 months, says its strategic plans for growth are on track as it revealed a £2.25m pre-tax loss for the 12 months to the end of January, up from a £1.95m loss the year before.

Prof Young said: “The results relate to a strategic year for us. We need to develop our infrastructure. In the year ahead, we will move forward the clinical programme.”

Prof Young, who earlier this month was named as the Ernst & Young Innovation Entrepreneur of the Year for the North & Midlands region, said the company did not receive its first major investment until 2005, so its timescale for getting products to market was rapid by industry standards.

“It’s going very fast compared to others – the average is 12.7 years,” he pointed out.

e-therapeutics’ overall aim is to become one of the world’s most profitable pharmaceutical companies by 2015, with a turnover target of over £100m.