REG - Nuformix PLC - £210,000 Placing

NuformixAnnouncement

Thu 07:00

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RNS Number : 6843J  Nuformix PLC  22 May 2025

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22 May 2025

 

Nuformix plc

 

("Nuformix" or the "Company" or the "Group")

 

£210,000 Placing

 

Nuformix plc (LSE:NFX), a pharmaceutical development company targeting unmet
medical needs in fibrosis and oncology via drug repurposing, announces a
conditional placing (the "Placing") to raise gross proceeds of £210,000
through the issue of 300,000,000 new ordinary shares ("New Ordinary Shares")
in the capital of the Company at a price of 0.07 pence per share (the "Issue
Price").

 

The net proceeds of the Placing will be used by the Company to drive forward
partnering discussions for its NXP002 programme, an inhaled treatment for
idiopathic pulmonary fibrosis ("IPF") and progressive pulmonary fibrosis
("PPF"), as well as to provide funding to enable the submission of an
application for Orphan Drug Designation in the USA for NXP002 in the treatment
of IPF, and for general corporate purposes.

 

The Placing and issue of the New Ordinary Shares are subject to the fulfilment
of the following conditions ("Conditions"): (i) approval by the Financial
Conduct Authority ("FCA") and publication by the Company of a prospectus; (ii)
there being no breach of the obligations under the placing agreement entered
into between CMC Markets UK Plc ("CMC Markets") and the Company prior to
Admission; and (iii) admission of the New Ordinary Shares to trading on the
Main Market of the London Stock Exchange ("Admission") becoming effective.

 

Application will be made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on the Main Market of the London Stock
Exchange and the equity shares (transition) category the FCA Official List
assuming the Conditions are met.

 

The Company and its advisers are finalising the prospectus and, following FCA
approval, anticipate being able to release a further update regarding the
timetable for Admission.

 

CMC Markets trading as CMC CapX, acted as the Company's sole placing agent in
respect of the Placing.

 

Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "The Placing
will provide the Company with additional funds to support it through an
exciting period as we progress discussions with potential licensing and
development partners, who like us are keen to improve the treatment of IPF and
PPF via inhalation.  Following the news of the European Medicines Agency's
Committee for Orphan Medicinal Products positive opinion regarding NXP002's
eligibility for Orphan Drug Designation in IPF we will now also be applying
for US FDA orphan drug designation. I look forward to providing further
updates in due course."

 

Enquiries:

 

 Nuformix plc
 Dr Dan Gooding, Executive Director  Via IFC Advisory

 CMC Markets
 Douglas Crippen                     +44 (0) 20 3003 8632

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

 Zach Cohen                          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 a pipeline of preclinical assets with potential
for significant value and early licensing opportunities.

 

 

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