Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, confirms that, post-fund raising, it has started the planned studies on its pipeline assets NXP002 (new form of tranilast) and NXP004 (undisclosed oncology drug).
· NXP002 additional pre-clinical activities on inhalation feasibility data package commenced
· NXP004 additional research into new physical forms commenced
NXP002 is the Company’s pre-clinical lead asset and a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis (IPF). It is a repurposed, new form of the drug tranilast, to be delivered in an inhaled formulation. As previously communicated, Nuformix planned to perform additional pre-clinical studies to generate a more robust data package with the goal of increasing the value of this asset and rendering it more attractive to licensing partners. Since completing the successful fundraise in March 2021, studies have commenced on these activities through outsourced expert contract organisations.
NXP004 represents novel forms of an undisclosed marketed oncology drug that has significant sales (more than £1 billion per annum in 2020) and is showing further growth. Nuformix filed one patent application on novel forms of this drug in 2020. Further outsourced research, through an expert contract organisation, on additional new forms and their properties has now commenced. If the research is positive, further patent applications may be filed.
The third pipeline asset, NXP001, a new form of the drug aprepitant, is progressing as planned. Oxilio exercised an option to take a licence to the Intellectual Property on this asset for oncology indications on 23 March 2021 and the licence agreement is currently being progressed.
Dr Anne Brindley, CEO of Nuformix, said: “I am pleased to communicate that, with the proceeds of the recent oversubscribed fund-raise in hand, the Company is executing on its plan that was communicated in March – both for NXP002 and NXP004. We are expecting results later in the year and further updates will be communicated when appropriate data are available. Thus, Nuformix is enacting on its strategy communicated in Q1 2021. Also the licensing discussions regarding NXP001 are ongoing and an update on that will be communicated at the appropriate time.”
Nuformix is a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing. The Company aims to use its expertise in discovering, developing and patenting novel drug forms, with improved physical properties, to develop new products in new indications that are, importantly, differentiated from the original (by way of dosage, delivery route or presentation), thus creating new and attractive commercial opportunities. Nuformix has an early-stage pipeline of preclinical and Phase 1-ready assets with potential for significant value and early licensing opportunities.
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