Newcastle University and Aim-listed spinout E-Therapeutics heads to phase 1b trials with its cancer drug after upping its R&D budget.
E-Therapeutics, a UK-based drug development spin-out from Newcastle University, expects to make big advances in the coming year after having upped its research and development budget to more than £8m ($12m) in the previous year.
The company’s spend in research and development increased by 60%, moving from £5.367m in the company’s year end in January 2014 to £8.549m in January 2015. However operating losses have widened from £6.719m to £10.175m in the same period.
In March 2009 the company raised…
