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As Dan said on 13 June Q&A
'[we are]....just building out a Target list of companies that we want to take the NXP002 story to and that's a more specific longer term activity, building out the story, approaching companies with the right kind of message and establishing contacts, that's activities underway as well the European respiratory Congress meets this year in September in Milan we hope to have a a considerable number of discussions at that kind of event with obviously discussions already underway with a discrete number of specific partners'
Alternatively I think a deal to offload NXP001 will come first.
It is possible but is it likely?
My money is on next rns is that they've commenced the next studies.
Someones enjoying the quiet days picking stock just above the bid.
Also interesting that TRx released their accounts the same day as Oxilio.
*ahem*….
True that. Certainly didn't have any effect on the MM's prices, and SETs has move the bid up now.
Damned if I know.
Agreed older, fingers crossed there are a few suitable donors in good time.
Always fun to see a large 6m trade go through as unknown. Although I feel its a worked sell.
Interesting to see Oxilio's accounts just released.
They're likely to have around £700k available following their recent £850k placing. They had £137k in the bank at the end of Jan (which shows they spent about £800k on the phase 1 clinical) and debtors owing them £460k which is interesting. So approx £1.4m cash or equivalents.
But then they have £720k due to creditors over the next 12 months (from Jan) which leaves a balance of around £700k free for progressing assets.
They submitted further patents after this one so I don’t know how much the refusal based on claims 11 & 12 on this one affect the latter.
https://patentscope.wipo.int/search/en/detail.jsf?docId=JP344317072&_fid=US339759777
No, the NFX patent was refused in Japan.
The only alternative I see Jiving is that someone signs up to an exclusivity option.
Will be interesting how the Kissei side fairs given the company only has ten days left to appeal the refusal of the Japan patent.
Even without NDA's in place, we will not hear whether they are talking to anyone or not. Even preliminary contact is usually tightly guarded in pharma.
Anyone hoping for the company to say they are in talks with anyone in particular is deluded.
As jiving says nothing will come before the additional studies are done and that depends on the availability of donors. We know that last time they had to wait 6 months longer than expected to get the donor organ and this time they need 3.
Ok FX, so you're saying that despite Dan leaving NFX in June 2020 he somehow is responsible for the terms and conditions of the deal that was finalised and signed in September 2021. Makes sense.
FX, Dan didn't sell anything relating to NXP001. His side was related to the lipid based work on OXL001 which has nothing to do with NFX.
As you will remember Dan left NFX in June 2020 and the Oxilio deal was signed a year and a half later in September 2021.
With the average phase 2 clinical cost £13m I doubt think that 850k raise is going to get them far with their lead asset.
I think they would take it given the chance. Plus I think it would be beneficial to NFX in the short term. Agreed it isn't their lead asset, their priority has always been oxl001.
For Oxilio, it would save them future royalty payments, so nets off in the long run.
For NFX, the milestone payments are still some way away so don't help the need for cash in the short term. And royalty payments are years away, so not really a consideration.
If Oxilio paid 500-800k for nxp001, I wouldn't have problems with that. Gives some cash to get 002 and 004 to license where the real value sits.
If they offered a sum to take nxp001 in full and that sum allowed NFX to get 002 and 004 through to outlicensing then what would be your thoughts?
I like how Oxilio have fudged their chart on the investors page of their website so as not to show stagnation.
They indicate they have raised 1.2m although they’re only reporting 850k to companies house.
Wonder what they’ll spend it on?
Still keeps their valuation at £254m which is a constant source of hilarity.
So Oxilio have just raised £850k, they must have something to do.