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Nuvec is a nanosilica systems targeting the delivery of therapeutics such as RNA, DNA, vaccines, and cancer therapies, and as a possible alternative delivery system to lipid nanoparticles and lipid nanosomes.
N4 has hired Andrew Leachman as the new head of Nuvec development. Leachman, it said, was previously a senior research scientist at FTSE 100-listed AstraZeneca PLC.
N4 is to look for partners to evaluate Nuvec within their products, having already signed one with MedImmune
Secondly, it is to begin an internal research programme to expand the dataset required to move Nuvec towards commercialisation.
Over the next few months N4 said it will demonstrate human primary cell transfection for Nuvec, investigate the degree of nuclease protection achieved, demonstrate pre-clinical efficacy, and undertake a pre-clinical toxicology study.
N4 said the first part is well underway, and it expects to complete "much of" the second phase by the end of the year.
Chief Executive Nigel Theobald said: "I am very excited about the potential for Nuvec and the appointment of Andrew to the team. I have no doubt that he will be a valuable asset to the business. The additional funds received from the recent warrant exercises put us in a strong position and not wholly reliant on partnerships to generate data for Nuvec, thereby making it easier for us to enter other commercial discussions. We will continue to discuss partnerships and seek relevant grant funding, where appropriate, to minimise our outgoing expenditure.
"Our intention is to undertake the relevant research and pre-clinical work to allow Nuvec to be in a position to enter human clinical studies with a partner by the end of 2020."
Shares were down 6.1% on Thursday at