REG - Nuformix PLC - NXP004 Update

NuformixAnnouncement

29/06/2022 07:01

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RNS Number : 5387Q  Nuformix PLC  29 June 2022

29 June 2022

 

Nuformix plc

 

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

 

NXP004 Update

 

Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet
medical needs in fibrosis and oncology via drug repurposing, is pleased to
provide an update in relation to the Company's NXP004 programme, focused on
the development of novel physical forms of olaparib.  Olaparib is currently
marketed by AstraZeneca, under the Lynparza® brand name. Lynparza® was first
approved in December 2014 for the treatment of adults with advanced ovarian
cancer and deleterious or suspected deleterious germline BRCA mutation.
 Since then, Lynparza® has secured similar approvals in breast, pancreatic
and prostate cancers with further trials on-going.  These approvals have
propelled Lynparza® sales to US$2.7bn in 2021, with industry analysts
forecasting annual sales of US$9.7bn by 2028.

 

Olaparib is known to present significant challenges in achieving effective
oral delivery.  In August 2017, AstraZeneca secured approval for a new
formulation of Lynparza® which sought to address such challenges.  The
Company has previously demonstrated the enhanced performance of NXP004
cocrystals compared to olaparib.  Further preformulation studies have allowed
the Company to identify lead cocrystals from its patent estate to be
progressed for further development.

 

The Company is pleased to report that it has initiated a programme of work to
progress the NXP004 programme in three key areas:

 

·    Commence the scale-up of lead cocrystal production processes;

·    Directly compare in-vitro dissolution performance of lead co-crystals
to the marketed Lynparza® product; and

·    Based on the results from these studies a formulation development
programme may be initiated.  The aims of this work will be to develop
prototype formulations that offer the potential to be both bioequivalent and
'bio-better' versus the Lynparza® product.

 

Further updates will be announced in due course, as appropriate.

 

Commenting, Dr Julian Gilbert, Non-executive Director of Nuformix, said: "The
strategy of the Group is to continue to optimise value from its existing
assets while maintaining tight control of costs.  We believe that NXP004 has
considerable commercial potential and the work we are now undertaking is
designed to formulate our lead co-crystals towards a product form suitable for
human use.  This work will direct and support future out-licensing
discussions for NXP004.  I look forward to providing further updates in due
course as we progress."

 

Enquiries:

 

 Nuformix plc
 Dr Julian Gilbert, Non-executive Director         Via IFC Advisory

 Maddy Kennedy, Non-executive Director

 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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