RE: What have I missed?25 Oct 2019 09:33
Eastern promise for Nuformix?Shares in Nuformix, the Cambridge-based drug company, gave up recent gains yesterday to trade 5 per cent lower and close at 8¼p.
Chatter that Nuformix is close to securing a licensing deal with Kissei Pharmaceutical, one of Japan’s largest drug companies, has sent shares in the minnow higher in recent days.
Nuformix uses co-crystal technology to re-engineer drugs. Market gossip suggests that Kissei is in talks to license Nuformix’s lead fibrosis treatment alongside its unique oral delivery system.
The proprietary delivery mechanism resolves a number of efficacy problems that have plagued Kissei for years, they claim. The partnership could enable Kissei to treat other conditions.
The reports suggest that the deal being discussed involves an upfront milestone payment of £15 million and annual royalty payments worth more than £200 million.
If a deal is struck and structured on those terms, Nuformix would generate revenues well in excess of its current £40 million market value.
Established in 2008, Nuformix set out to identify known drug molecules with the potential to function as innovative therapies for unmet medical needs.