Nuformix PLC Licensing agreement with Oxilio for NXP001 (4839L)
13 September 2021 - 4:00PM
UK Regulatory
TIDMNFX
RNS Number : 4839L
Nuformix PLC
13 September 2021
13 September 2021
Nuformix plc
("Nuformix" or the "the Company")
Worldwide licensing agreement with Oxilio for NXP001
Nuformix plc (LSE: NFX), a pharmaceutical development company
targeting unmet medical needs in fibrosis and oncology via drug
repurposing, is pleased to announce that it has signed an exclusive
global licensing agreement with Oxilio Ltd ("Oxilio"), a privately
held pharmaceutical development company, for NXP001 (a proprietary
new form of aprepitant) for oncology indications.
Under the terms of the licensing agreement, Oxilio has obtained
an exclusive licence to research, develop and commercialise NXP001
globally for oncology indications. Nuformix is eligible to receive
an undisclosed upfront payment, development milestone payments and
a royalty on net sales, capped at GBP2 million per annum.
-- On 23 September 2020, Nuformix granted an exclusive option to
Oxilio to license NXP001 globally for oncology indications. This
triggered an undisclosed upfront payment.
-- On 22 March 2021, Oxilio exercised its option to acquire a
licence for NXP001. Oxilio and Nuformix then began working together
to finalise an exclusive global licensing agreement for NXP001.
Dr Anne Brindley, CEO of Nuformix, said: "We are delighted to
complete the licensing agreement with Oxilio - achieving this
exclusive global licensing deal for NXP001 in oncology is a major
step forward as it validates the Nuformix technology and
intellectual property, and also endorses our strategy of
repurposing drugs and licensing at an early stage. Nuformix will
now concentrate on developing its two lead assets NXP002 and
NXP004."
Dr Simon Yaxley, Co-Founder and Director of Oxilio said: "We are
pleased to expand our clinical development pipeline with the
licensing of NXP001, which is highly complementary to our strategy
of identifying, repurposing and commercialising existing drugs to
address unmet needs in cancer therapy . NXP001 , a novel form of
aprepitant with improved properties, and its Phase 1 study
demonstrates the potential for improved bioavailability without
needing a complex formulation. Our hope is for the consolidated
efforts under the agreement to enable Oxilio to accelerate the
development of NXP001 and bring new treatment options to a broad
range of cancer patients."
Enquiries:
Nuformix plc +44 (0) 1223 627 222
Dr Anne Brindley, CEO
Allenby Capital Limited +44 (0) 20 3328 5656
Nick Athanas / George Payne (Corporate
Finance)
Stefano Aquilino / Matt Butlin (Sales
& Corporate Broking)
Walbrook PR +44 (0) 20 7933 8780
Anna Dunphy / Paul McManus nuformix@walbrookpr.com
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.
For more information, please visit www.nuformix.com
About NXP001
NXP001 is a proprietary new form of the drug aprepitant that is
currently marketed as a product in the oncology supportive care
setting (chemotherapy induced nausea and vomiting). A disadvantage
of aprepitant is that its sub-optimal properties necessitate a
complex formulation. Nuformix discovered and has attained granted
patents on new forms of aprepitant (NXP001) with improved
properties.
About Oxilio
Oxilio is a privately held pharmaceutical development company
focused on repurposing known drugs for the treatment of cancer
through a programme of corporate alliances coupled with rapid proof
of concept clinical development.
Oxilio will develop and seek to exploit NXP001 globally for the
treatment of cancer. It is focused on alleviating the current
dilemma of a shortage of effective drug candidates that have
potential as new cancer therapies, by adopting a drug repurposing
strategy (identifying new uses for approved or investigational
drugs that are outside the scope of the original medical
indication). The major advantage of this approach is that the
pharmacokinetics, pharmacodynamics and toxicity profiles of these
drugs are already reasonably well established. Thus, drug
repurposing is a less risky development route with substantially
lower associated development costs. The agreement with Nuformix
allows Oxilio to focus on developing rapidly a unique formulation
and dosage form with NXP001 and progressing into the clinic.
For more information, please visit www.oxilio.co.uk.
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