With the refocusing of the business and the new CEO’s strategic review now implemented, e-Therapeutics (ETX) finds itself with the NDD platform and at least two lead preclinical small molecule immuno-oncology (I/O) assets at a time when big pharma partners are clamouring for those assets. This is because Merck and BMS’s marketed anti-PD-1 antibodies need synergistic mechanisms to broaden and extend the number and duration of their responses. ETX’s first partnership announcement will be a value inflection point.