Operational Update

RNS Number : 1624T

Nuformix PLC

02 July 2018

 

2 July 2018

Nuformix plc

("Nuformix" or the "Company")

Operational Update

Nuformix, the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs is pleased to update shareholders regarding the Company's developments since coming to market in October 2017.

Nuformix has added world class members to its team to support the Company's technical and commercial aspirations. Dr Andy Richards has joined as Chairman of the Nuformix Advisory Panel, Dr Chris Blackwell has joined the Nuformix Board as a Non-Executive Director and Dr Alex Eberlin has joined the R&D team as Head of Chemistry. These additions bring a wealth of proven expertise in life sciences value creation and broaden the Company's network.

The Company has completed a full Strategic, Commercial and Operational Review in respect of Nuformix's lead programmes, its wider portfolio and early-stage pipeline. All previously planned research and development activities are fully supported by the newly formed Advisory Panel and the Board, as are the associated commercial objectives.

In respect of NXP001, the Company is currently awaiting confirmation that its first pre-clinical milestone has been achieved, which will result in the initial £500,000 payment from Newsummit Biopharma ("NSB"). In addition, the Company is on track to deliver its first human pharmacokinetic data in early 2019. MHRA clearance is expected in November 2018 with patients scheduled for dosing in January 2019. All clinical materials have been generated and are ready for study commencement at Quotient. Demonstration of bioequivalence to the reference product will trigger a further £2 million payment from NSB, whilst the marketing of the Rest of World rights will commence in Q3 2018.

In respect of NXP002, our Strategic Review combined with emerging pre-clinical data strongly supports primary development towards a treatment for Idiopathic Pulmonary Fibrosis ("IPF"). The Company expects to announce completion of its pre-clinical IPF programme shortly, following initial positive pilot study results as previously announced. Our clinical partners have now received tissue from all required donors to complete the study, with anticipated reporting of results in Q3 2018. Formulation development is on-going as the Company positions itself for an initial patient proof-of-concept study in IPF prior to commercial out-licensing. Additional development opportunities and further partnerships are being explored in parallel.

In a short time the Company has made additional progress with our product pipeline to maximise the opportunity to address unmet patient needs using cocrystal technology and de-risking commercial success. In pipeline development, we continue to validate a select number of early-stage cocrystal-based products to support future progression to clinic. The Company is pleased to announce that it has discovered new cocrystal drug forms for molecules of therapeutic and commercial interest.

St. George Street Capital is the first of several anticipated collaborations, where Nuformix will share future development risk with partner companies in supporting their development of proprietary assets using Nuformix technology. Collaborations allow rapid growth in the number and value of Nuformix assets and, in addition, generate upfront and near term revenue.

The Company will continue to update shareholders and report progress and data on our current lead programmes, collaborations and product pipeline.

www.nuformix.com

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]
Gable Communications Ltd John Bick / Justine James	[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 has created an IP portfolio containing a range of granted patents covering 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 into 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.

 

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