Nuformix PLC Operational Update (1624T)
July 02 2018 - 2:00AM
UK Regulatory
TIDMNFX
RNS Number : 1624T
Nuformix PLC
02 July 2018
2 July 2018
Nuformix plc
("Nuformix" or the "Company")
Operational Update
Nuformix, the pharmaceutical development company using cocrystal
technology to unlock the therapeutic potential of approved small
molecule drugs is pleased to update shareholders regarding the
Company's developments since coming to market in October 2017.
Nuformix has added world class members to its team to support
the Company's technical and commercial aspirations. Dr Andy
Richards has joined as Chairman of the Nuformix Advisory Panel, Dr
Chris Blackwell has joined the Nuformix Board as a Non-Executive
Director and Dr Alex Eberlin has joined the R&D team as Head of
Chemistry. These additions bring a wealth of proven expertise in
life sciences value creation and broaden the Company's network.
The Company has completed a full Strategic, Commercial and
Operational Review in respect of Nuformix's lead programmes, its
wider portfolio and early-stage pipeline. All previously planned
research and development activities are fully supported by the
newly formed Advisory Panel and the Board, as are the associated
commercial objectives.
In respect of NXP001, the Company is currently awaiting
confirmation that its first pre-clinical milestone has been
achieved, which will result in the initial GBP500,000 payment from
Newsummit Biopharma ("NSB"). In addition, the Company is on track
to deliver its first human pharmacokinetic data in early 2019. MHRA
clearance is expected in November 2018 with patients scheduled for
dosing in January 2019. All clinical materials have been generated
and are ready for study commencement at Quotient. Demonstration of
bioequivalence to the reference product will trigger a further GBP2
million payment from NSB, whilst the marketing of the Rest of World
rights will commence in Q3 2018.
In respect of NXP002, our Strategic Review combined with
emerging pre-clinical data strongly supports primary development
towards a treatment for Idiopathic Pulmonary Fibrosis ("IPF"). The
Company expects to announce completion of its pre-clinical IPF
programme shortly, following initial positive pilot study results
as previously announced. Our clinical partners have now received
tissue from all required donors to complete the study, with
anticipated reporting of results in Q3 2018. Formulation
development is on-going as the Company positions itself for an
initial patient proof-of-concept study in IPF prior to commercial
out-licensing. Additional development opportunities and further
partnerships are being explored in parallel.
In a short time the Company has made additional progress with
our product pipeline to maximise the opportunity to address unmet
patient needs using cocrystal technology and de-risking commercial
success. In pipeline development, we continue to validate a select
number of early-stage cocrystal-based products to support future
progression to clinic. The Company is pleased to announce that it
has discovered new cocrystal drug forms for molecules of
therapeutic and commercial interest.
St. George Street Capital is the first of several anticipated
collaborations, where Nuformix will share future development risk
with partner companies in supporting their development of
proprietary assets using Nuformix technology. Collaborations allow
rapid growth in the number and value of Nuformix assets and, in
addition, generate upfront and near term revenue.
The Company will continue to update shareholders and report
progress and data on our current lead programmes, collaborations
and product pipeline.
www.nuformix.com
Market Abuse Regulation (MAR) Disclosure. Certain information
contained in this announcement would have been deemed inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the publication of this announcement via a
Regulatory Information Service and accordingly, this inside
information is now considered to be in the public domain.
Enquiries:
Nuformix plc
Dr Dan Gooding, Chief Executive
Officer +44 (0)1223 423667
Gable Communications Ltd
John Bick / Justine James +44 (0)20 7193 7463
About Nuformix plc www.nuformix.com
Nuformix is a pharmaceutical development company using cocrystal
technology to unlock the therapeutic potential of approved small
molecule drugs. Nuformix's risk-mitigated development strategy has
resulted in a pipeline of discoveries through which it has
developed and patented novel cocrystal forms of approved small
molecules.
Nuformix has created an IP portfolio containing a range of
granted patents covering cocrystal forms of five small molecule
drugs. Nuformix is targeting high-value unmet needs with its lead
programmes in oncology supportive care: NXP001 and fibrosis:
NXP002.
Nuformix was established in Cambridge in 2009 and has invested
into pharmaceutical cocrystal R&D, establishing world-class
capability and know-how in cocrystal discovery and development,
yielding multiple product opportunities. Nuformix plc shares are
traded on the London Stock Exchange's Official List under the
ticker: NFX.L.
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END
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