REG - Nuformix PLC - NXP001 Update

NuformixAnnouncement

18/09/2023 07:00

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RNS Number : 6842M  Nuformix PLC  18 September 2023

18 September 2023

 

 

Nuformix plc

 

("Nuformix" or the "Company")

 

NXP001 Update

 

Nuformix receives new NXP001 development milestone payments in updated Oxilio
agreement

 

Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet
medical needs in fibrosis and oncology via drug repurposing, is pleased to
announce that the Company is to receive new immediate and near-term
undisclosed milestone payments as part of an update to its NXP001 exclusive
licensing agreement with Oxilio Ltd ("Oxilio").

Under the revised agreement with, Oxilio will acquire ownership of Nuformix's
NXP001 patent estate, with Nuformix receiving the additional milestone
payments referred to above, whilst retaining further development milestones
and royalties capped at £2 million per year.

Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "Oxilio has
a clear plan as to how NXP001 fits into their overall product development plan
and we continue to fully support Oxilio in that process.  The updated
agreement has a dual benefit to Nuformix - we receive additional near-term
cash payments, whilst discharging responsibility for future patent upkeep
costs.  The net positive impact on our cash position will better enable the
Company to progress our core NXP002 and NXP004 programmes and respond to
requests for additional data as we continue partnering interactions for these
programmes."

Enquiries:

 

 Nuformix plc
 Dr Dan Gooding, Executive Director                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

 

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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