RE: In great financial health25 Oct 2019 13:42
the £2m payment was outlined in the RNS 30/5/19 :
"The positive results from the trial now enable the Company to:
· Confirm NXP001's potential for development as a treatment for CINV, enabling current and future licensees to launch new products into the £16bn oncology supportive care market
· Trigger a final milestone payment of £2m from its Chinese licensing partner, Newsummit Biopharma, who have commenced product registration in China (Nuformix retains 10% royalty, with remaining milestone payments expected during June 2019)
· Progress on-going discussions for licensing rest of world rights to NXP001 for CINV
· Finalise further product development opportunities for the NXP001 programme to generate additional future value
· Progress its wider portfolio using the Company's proven approach in identifying high-value applications for cocrystal technology"