Nuformix PLC Corporate Update (1592N)
May 30 2022 - 2:01AM
UK Regulatory
TIDMNFX
RNS Number : 1592N
Nuformix PLC
30 May 2022
30 May 2022
Nuformix plc
("Nuformix" or the "Company")
Corporate Update
Nuformix plc (LSE: NFX), a pharmaceutical development company
targeting unmet medical needs in fibrosis and oncology via drug
repurposing, is now able to provide an update on the Company's
assets and other corporate matters.
NXP002
NXP002, a new form of tranilast , is the Company's pre-clinical
lead asset and a potential novel inhaled treatment for Idiopathic
Pulmonary Fibrosis ("IPF").
As announced on 25 November 2021, positive data was received
from initial pre-clinical studies. In vitro studies demonstrated
NXP002's feasibility for formulation as a simple and stable
solution with suitable properties for delivery via
nebulisation.
In vivo studies evaluated NXP002's pharmacokinetics when
delivered by nebulisation. Results demonstrated that NXP002 can be
efficiently delivered to the lung.
Further in vivo studies evaluated the pharmacodynamics of NXP002
when delivered by nebulisation. This study showed that inhaled
NXP002 could dose-dependently regulate the production of
inflammation and fibrosis-relevant cell mediators in response to a
lipopolysaccharide (" LPS") challenge.
Following the results of these studies, a final planned
pre-clinical study was commissioned to assess the duration of
action with the gap between inhaled NXP002 and the LPS challenge
extending from 30 minutes, as in the first study, in various stages
up to eight hours. However, the Contract Research Organisation
("CRO") undertaking the study had a protocol failure, voiding the
study. The CRO repeated the study as per the protocol.
The repeat study has recently concluded. The results, however,
were inconsistent with the first in vivo study at all time points
and also with the oral control. In the opinion of the Company and
its development advisers, no positive or negative conclusions could
be drawn from this study.
The Company, in consultation with the CRO, has therefore decided
to move forward with further studies, including evaluation of a new
formulation. New studies will examine both the pharmacokinetics of
NXP002 as an inhaled product and further test its efficacy in
repeat LPS challenge studies. The timing of results from this study
is dependent upon the availability of slots with the CRO and is
expected on or before Q1 2023.
NXP004
The Company has previously demonstrated the enhanced performance
of NXP004 compared to olaparib's free form. Subsequently,
additional pre-formulation studies have been completed confirming
the superiority of the Company's recently patented cocrystal forms
and a lead cocrystal has been selected to enter drug product
development. Further updates will be announced in due course.
NXP001
Following the Company's signing of an exclusive global licensing
agreement with Oxilio Ltd ("Oxilio") for NXP001 on 13 September
2021, Oxilio continues to progress this asset. NXP001 is a
proprietary new form of aprepitant which is currently marketed for
cancer chemotherapy induced nausea and vomiting. The arrangement
with Oxilio is allowing them to progress NXP001 without cost to the
Company and Nuformix expects to receive milestone payments when the
product completes clinical trials and ultimately royalties on any
sales.
The board believes the Company has sufficient funds to undertake
the planned studies on NXP002 and operate on current projections
until Q4 2023.
Management
Following a search for a new Chief Executive Officer for the
Company, utilising external consultants, no suitable candidate has
been identified.
Commenting, Alastair Riddell, Executive Chairman of Nuformix,
said: " We continue to believe that NXP002 is a valuable asset that
can overcome the limitations and issues of tranilast being
delivered orally. The further study, that we anticipate will
confirm the previous findings, will commence as soon as the CRO is
able. We anticipate results from these studies by Q1 2023. We have
sufficient funds to conduct the studies on NXP002 and, based on our
current projections, to continue to Q4 2023."
Enquiries:
Nuformix plc
Dr Alastair Riddell, Executive Chairman Via IFC Advisory
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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