NFX22 Jul 2021 08:54
Nuformix plc
6th Floor
60 Gracechurch Street
London EC3V 0HR
22 July 2021
Dear Shareholder,
I am writing to you as the Non-Executive Chairman of Nuformix plc. This letter comes as a response to
a number of enquires we have had regarding the RNS we issued on Wednesday morning, 21 July
stating that Dr Anne Brindley has decided to step down from her role as CEO of the Company. I
understand the frustration and confusion from our valued shareholders on this news, feelings shared
by the Board, so I wanted to address some of the concerns in this letter. Her announcement came
after I had written my Chairman’s statement in the upcoming Annual Report.
Anne’s resignation was unexpected and is the result of a significant job offer she could not refuse from
previous colleagues – it is no reflection on Nuformix or her view of the opportunities in the Nuformix
pipeline.
Anne understands the difficulties this causes the Company and has committed to working diligently
on the ongoing Company projects during her six month notice period and will continue to push
forward the 3 pipeline assets for NXP002, NXP004 and NXP001, according to the strategy, as she has
done so far since joining. All these projects are proceeding according to plan towards the inflection
points previously communicated and all activities will continue to be progressed. The licensing
discussions with Oxilio for NXP001 are ongoing and further news on this will be announced via RNS as
soon as it is available. I do not doubt Anne’s commitment during this time.
As previously disclosed, we are expecting important readouts on the progress with NXP002 and
NXP004 later in 2021 and positive outcomes on these will trigger licensing discussions with key players.
Should this be the case, we will engage expertise in business development to pick up these projects.
Even without any short term licensing income, the Company is funded through to the first inflection
point for NXP002, to complete the research on NXP004, license NXP001 and to fund licensing
discussions for a sufficient runway after getting data. As a Board, we are committed to navigating the
Company through the next six months and beyond to achieve the best outcomes for our investors.
I would like to take this opportunity to thank our shareholders for their unwavering support and I look
forward to updating you further with news as soon as we can.
Yours sincerely,
Alastair Riddell
Non-Executive Chairman
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