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Ryan, the patents are for the composition, not the use. So they can out license the patent for a specific use and then to someone else for a different use.
"Should Oxilio exercise the option, Nuformix will licence its patent estate and know-how on NXP001"
Does "patent estate" not imply the entire of the patents on NXP001, including the CINV parts, or am I missing something?
Also remember CB mentioning rather specifically NXP001 on humans, which did lead me to question whether they had thought there could be implications for the veterinary market.
I actually am quite happy with today's announcement as they have affectively offloaded purposing of the product to another partner for a field they have yet to identify and are unlikely to find the capacity to explore with the headcount they have, its also less likely to be explored with the other more valuable IP they have in the works, it seems to me that this is a win win for both parties. I did not see referenced anywhere regional rights so do we assume should the licensee find the need/market they retain ROW for the purpose?
Try to consider 2m capped a year is better than nothing and the significant upfront payment as its not clarified is still yet to be negotiated so we can see what the partner comes up with before any agreement for rights to a market/need we have yet to even look at, which I think is a great for NFX. I had written off NXP001 in my investment case for this, for me it was always the least attractive product but was able to prove the technology to the market with the quickest time frame. So very happy with this rns.
Consequently I am also appreciative of the way the market has reacted, if you know something is undervalued surely that is a good thing as you can accumulate more with expectation of greater returns in future, unless you need a quick buck now of course.
Given the people on here who keep saying they've 'heard' something, who knows.
Maybe by proving that they can now keep a secret (by not leaking news before the event) future partners might be more willing trust us as reliable partners
I don't think that's why the price has fallen.
I simply think there is an exodus of holders ducked in by the P&D's who probably bought in on the expectation of big NXP002 or NXP004 news. NXP001 news is not the big deal they wanted to hear and they probably think that's all we're going to get for the time-being.
For the time being, that money will now be placed somewhere else where hopes of a quick return are high.
What this RNS demonstrates though is that the leaks have been sealed and no one will know exactly when news will land from now on.
That is the main point that I think has been missed by the market, this is a new use and doesn't replace the key area that NFX have been working on.
Thanks FX & cminhinnett.
Good that it shows this is additional and not a deviation of purpose.
Reposted for Soupdragon78, the following is stated in the RNS, this is an additional avenue to the main one NFX has been working on:
About NXP001 - Oncology
NXP001 has been developed by Nuformix, to date, with the aim of improving its use in the cancer critical care setting, particularly with regard to chemotherapy-induced nausea and vomiting (CINV). Business development activities continue with this focus alongside the option agreement for Oxilio to explore its potential in treating cancers.
I think it does.
See cmhininnett post earlier. It contains excerpt from the end of the RNS that states CINV activities continue alongside. So no detrimental impact on using NXP001 for its original purpose if opportunity arises.
One thing I'm thinking is whether this still allows NFX to outlicense NXP001 for CINV separately? i.e. multiple out-licenses.
I think the possible reason for the cap on future royalties could be because Nuformix has not carried out any development/ research into using NXP001 for cancer treatment, Nuformix have only been pursuing NXP001 for CINV. So Oxilio will be carrying out the research and development in a new area, with Nuformix in a relatively minor consultancy role, and Oxilio will be funding this work without any certainty that a cancer treatment will present itself or for what type of cancer. It may be that the cancer it can treat, if any, is a less common type and therefore has less market potential. So it is a bit different to most out-license situations, as no specific work has been carried out by the licensor and consequently there is a higher risk situation for the licensee, which is reflected in the terms.