RCS - Nuformix PLC - Appointment of Dr Dan Gooding as Consultant

NuformixAnnouncement

02/03/2022 07:00

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RNS Number : 2868D  Nuformix PLC  02 March 2022

REACH

 

2 March 2022

 

Nuformix plc

("Nuformix" or the "Company")

 

Appointment of Dr Dan Gooding as Consultant

 

Nuformix plc (LSE: NFX), the pharmaceutical development company targeting
unmet medical needs in fibrosis and oncology via drug repurposing, is pleased
to announce the appointment of Dr Dan Gooding as a consultant to the Company.
 Dr Gooding was a co-founder and ex-CEO of Nuformix and instigated the
Company's NXP002 programme as an inhaled therapy for the treatment of
Idiopathic Pulmonary Fibrosis ("IPF").

 

Commenting on his appointment, Dr Gooding said: "I am a strong believer in the
potential of NXP002 as an inhaled therapy for the treatment of IPF. The recent
positive pre-clinical data further cements this belief and I am delighted to
be able to support the Company in its development and commercialisation
activities for the NXP002 programme. My detailed knowledge of previous
development strategies, commercial discussions and continued commitment to the
success of the project and the Company will now be brought to bear in a formal
way, alongside the Nuformix team, for the benefit of the NXP002 programme and
the Company's shareholders."

 

Nuformix's Executive Chairman, Dr Alastair Riddell, said: " The recent
positive pre-clinical studies on NXP002 warrant the progression of further
product development and commercial discussions with licensing partners. Dr
Gooding brings significant corporate history and experience to the table which
will help facilitate these activities.

 

"Now the Company is able to invest in the formal development of NXP002, our
objective is to progress NXP002 through a series of value-inflexion points
prior to out-licensing. We look forward to announcing further results from our
ongoing pre-clinical studies on NXP002 in the near future.

 

"Furthermore, our search for a new CEO is progressing well and I look forward
to announcing an appointment in due course."

 

Enquiries:

 

 Nuformix plc
 Dr Alastair Riddell, Executive Chairman           Via IFC Advisory

 Stanford Capital Partners Limited
 Tom Price / Patrick Claridge (Corporate Finance)  +44 (0) 20 3650 3650
 John Howes (Corporate Broking)                    +44 (0) 20 3650 3652

 IFC Advisory Limited
 Tim Metcalfe                                      +44 (0) 20 3934 6630

 Zach Cohen                                        nuformix@investor-focus.co.uk (mailto:nuformix@investor-focus.co.uk)

 

About Nuformix

 

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.

 

About NXP002

 

NXP002 is a new form of tranilast being developed as an inhaled product for
the treatment of Idiopathic Pulmonary Fibrosis, a devastating lung disease
with a high mortality rate. The IPF market reached a value of £2bn in 2021
and is forecast to grow to £6.6bn by 2027. Novel therapeutic interventions
are required as approved therapies are limited to slowing disease progression.
NXP002 is being developed for delivery direct to the lungs by inhalation, a
new route of administration for this drug, uniquely enabled by Nuformix
technology protected by internationally granted patents. The inhalation route
is a well-known strategy for treatment of lung diseases to yield greater
efficacy and reduce systemic side-effects compared to oral treatment.

 

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