Appointment of Dr Dan Gooding as Consultant

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)	[phone]
John Howes (Corporate Broking)	[phone]
IFC Advisory Limited
Tim Metcalfe Zach Cohen	[phone] [e-mail]

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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