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Share Price:5.45
Bid:5.20
Ask:5.70
Change:0.00 (0.00%)
Spread: 0.50 (9.62%)
Open: 5.30
High: 5.45
Low: 5.30
Yest. Close: 5.20
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Nuformix and VistaGen Announce CNS Agreement
Wed, 27th May 2020 07:00
RNS Number : 0473O
Nuformix PLC
27 May 2020
Nuformix and VistaGen Announce Agreement to Develop Novel Patentable Cocrystal Forms of AV-101 for Treatment of Multiple CNS Conditions
Novel Cocrystal Form of AV-101 Administered with Probenecid
May Have Superior Delivery, an Enhanced Therapeutic Profile
and Additional Intellectual Property Protection.
Cambridge, UK - 27 May 2020: Nuformix plc (LSE:NFX) ("Nuformix" or "the Company"), the pharmaceutical development company focused on unlocking the therapeutic potential and value of known drugs and VistaGen Therapeutics (NASDAQ:VTGN), a clinical-stage biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system "CNS" diseases and disorders with high unmet need, today announced their agreement to develop novel cocrystal-based formulations of VistaGen's CNS product candidates. Under the terms of the agreement, Nuformix and VistaGen will initially apply Nuformix's proprietary technology platform to develop patentable new crystalline forms of AV-101 that may offer superior delivery, an enhanced therapeutic profile and additional intellectual property protection. If successful, Nuformix and VistaGen will consider opportunities to extend the collaboration to other CNS therapeutic candidates with a view to unlocking additional therapeutic and commercial opportunities.
Dr Dan Gooding, Chief Executive Officer Nuformix, said:
"We're very pleased to announce this agreement with VistaGen and the opportunity to collaborate in CNS therapeutics. VistaGen and Nuformix share similar objectives in the development of new therapies and we look forward to making an important contribution to VistaGen's comprehensive AV-101 programme and developing the relationship further."
H. Ralph Snodgrass, PhD, VistaGen's President and Chief Scientific Officer, said: "Nuformix has a successful track record of using cocrystal technology to re-engineer the crystalline form of small molecule drugs for their own development and for select partners. Their team is not only highly experienced, but also scientifically creative. We look forward to a productive collaboration."
AV-101 is VistaGen's oral NMDAR (N-methyl-D-aspartate receptor) glycine site antagonist
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