Ebers Cannabinoid Collaboration Update

RNS Number : 6247L

Nuformix PLC

09 September 2019

 

9th September 2019

Nuformix plc

("Nuformix" or "the Group"),

Ebers Tech Strategic Cannabinoid Collaboration Update

Nuformix, the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs is pleased to update shareholders on its collaboration with Ebers Tech Inc. (Ebers), a private Canadian cannabinoid development company backed by leaders from the financial sector with connections to major vertically integrated US cannabinoid players.

Nuformix and Ebers are pleased to announce a first patent filing in relation to novel cannabinoid cocrystals following the commencement of development activities under the previously announced Strategic Cannabinoid Agreement (the "Agreement").

Under the Agreement, Ebers gained exclusive access to Nuformix's existing cannabinoid IP and technology platforms to enable the development of differentiated cannabinoid products. This first resulting patent filing relates to novel forms of a naturally-occurring cannabinoid, which is the subject of growing scientific interest as its therapeutic promise becomes increasingly validated. The patented cannabinoid forms have immediate applications in both pharmaceutical and consumer products worldwide, which in due course, will generate further milestone payments, plus royalties to Nuformix of 20% under the Agreement terms.

Nigel Little, Director of Ebers, said: "We're excited Nuformix have achieved this first patent filing for Ebers Tech. From a strategic perspective, Nuformix's proven track-record in securing worldwide patent protection for improved drug forms provides Ebers with an opportunity to generate high-value IP, identified as a limitation within the emerging cannabinoid market. This a key milestone in allowing Ebers to create and protect superior cannabinoid products for consumer product and therapeutic applications."

Dr Dan Gooding, CEO, Nuformix plc, added: "We're delighted to secure this opening cannabinoid IP filing, which serves as the first disclosable validation of the Ebers agreement. The number of patents filed is one of several key performance indicators for the collaboration and demonstrates the partnership and overall concept are well-founded. For Nuformix, this first patent filing creates a path to further income from Ebers. We will continue to inform the market as further patents are filed and milestones and royalties are paid in-line with the agreement".

All R&D work conducted by Nuformix and its partners in the UK will be conducted in compliance with UK legislation regarding controlled substances.

Market Abuse Regulation (MAR) Disclosure. Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the publication of this announcement via a Regulatory Information Service and accordingly, this inside information is now considered to be in the public domain.

Enquiries:

Nuformix plc Dr Dan Gooding, Chief Executive Officer	[phone]
Optimum Strategic Communications Mary Clark, Supriya Mathur Email: [e-mail]	[phone]

About Nuformix plc  www.nuformix.com 

Nuformix is a pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs. Nuformix's risk-mitigated development strategy has resulted in a pipeline of discoveries through which it has developed and patented novel cocrystal forms of approved small molecules.

Nuformix's IP portfolio of granted patents covers cocrystal forms of five small molecule drugs.  Nuformix is targeting high-value unmet needs with its lead programmes in oncology supportive care: NXP001 and fibrosis: NXP002.

Nuformix was established in Cambridge in 2009 and has invested in pharmaceutical cocrystal R&D, establishing world-class capability and know-how in cocrystal discovery and development, yielding multiple product opportunities. 

Nuformix plc shares are traded on the London Stock Exchange's Official List under the ticker: NFX.L.

About Ebers Tech Inc

Ebers Tech Inc is a private Canadian company backed by leaders from the financial sector focussed on the development of superior, differentiated cannabinoid products for a multitude of consumer product and therapeutic applications.

About the Cannabinoid Product Market

The cannabinoid product market is perceived to be a rapidly growing and significant market in products not containing THC. The projected US cannabinoid-based pharmaceuticals market alone is expected to grow ~US$ 50bn by 20291. The existing wider cannabinoid product market is large and growing. Global CBD product sales are estimated at £1.1bn in 2018 and forecast to reach £22bn by 20252, with GW Pharma's Epidiolex, a CBD-based pharmaceutical product, forecast to achieve annual sales of £1.7bn3. Through the agreement with Ebers Tech, Nuformix will benefit from adding its technology to a range of products into multiple markets versus taking a single product containing our technology into a single market.

 

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1 https://www.statista.com/statistics/588853/market-size-of-cannabinoid-pharmaceuticals-in-the-us/

2 https://www.zionmarketresearch.com/report/cannabidiol-products-market 

3 https://seekingalpha.com/article/4228926-gw-pharmaceuticals-big-upside-expected-revenues

 

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