NFX Nuformix Plc

TIDMNFX

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(R) brand name. Lynparza(R) 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(R) has secured similar approvals in breast, pancreatic and prostate cancers with further trials on-going. These approvals have propelled Lynparza(R) 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(R) 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 (R) 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 (R) 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           Via IFC Advisory 
  Director 
  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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June 29, 2022 02:00 ET (06:00 GMT)

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