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Nuformix PLC - pharmaceutical development firm based in London - Signs an exclusive global licensing agreement with pharmaceutical development company Oxilio Ltd for NXP001, a proprietary new form of aprepitant, for oncology indications. Under the terms, 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.
Chief Executive Officer Anne Brindley says: "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."
Current stock price: 1.45 pence
Year-to-date change: down 45%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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