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"The Board believes the value of NXP002 can be enhanced by studying the benefit of NXP002 in combination with therapies currently marketed for IPF and has prioritised this pre-clinical work, since likely adoption of new therapies for IPF will be on top of current standard of care."

Interesting comment about expanding the use of NXP001 outside the field of oncology.

Goup, on the Q1 aspiration, I think this is because Dan knew (or had an agreement) that he was going and was targeting that point to do a deal before leaving. If anything COVID coming along probably shot it down and CB hasn't proactively followed it up as he'd rather wait for someone new to do so.

Shandy, he was always interim exec chairman and said right from the start they’d be appointing someone new. The disappointment is that they’ve not even managed to achieve that over the past four months.

For immediate release

Nuformix plc

("Nuformix", the "Company" or the "Group")

Placing and Strategic Update

Cambridge, UK - 7 October 2020: Nuformix plc (LSE:NFX), a drug re-purposing specialist, is pleased to announce that it has conditionally placed 23,214,285 new Ordinary Shares (the "Placing Shares") at 2.8 pence per share (the "Placing Price") with certain existing and new investors (the "Placing") to raise approximately GBP0.65 million (before expenses) (the "Net Placing Proceeds").

Fundraising Highlights:

The Net Placing Proceeds will be used to accelerate business development with focus on the following key areas:

o Strengthen Group data packages for treating the effects of Covid-19

o Maximise opportunities for development pipeline especially lead asset, NXP002

o Recruit a CEO with responsibility for delivering the Group's strategy

o Augment and strengthen the Board with additional Non-Executive expertise

Strategic Update Highlights:

o Certain Group assets to be evaluated for treating the effects of Covid-19

o Expansion of the Group's business development strategy to optimise chances of securing additional deals and drive maximum value for shareholders

o Expanded licensing activities for the lead asset, NXP002, to seek global licensing partners in addition to continued negotiations on licensing for the Asian market

o Additional pre-clinical work for evaluation of the benefits of NXP002 in combination with existing marketed products in the treatment of IPF ( Idiopathic Pulmonary Fibrosis, a serious lung disease) , targeting the existing global IPF market valued at approximately US$2 billion per annum

o Expanded business development effort seeking to exploit value from NXP001 in indications outside the field of oncology

Background and Use of Net Placing Proceeds

Over recent months, the Board has undertaken a substantial amount of work to position the business for growth. The focus continues to be driving maximum value for shareholders with a number of key opportunities. In order to execute these, the Group requires additional expertise and an appropriate infrastructure, with a heightened focus on business development. Following the business review, the Group needs to bring in a CEO and augment the Board with additional Non-Executive expertise.

No surprises at the placing.

If anyone is that desperate to know they can just ask the company to have a look at the shareholder register. To decline, the company would have to apply to court.

Phen, we don’t know why the investors page now doesn’t include CPI as the last reporting from them they held 8.8% or 43.36m shares, so should be shown above many on that page.

The full sentence from the website.

"We are considering a number of inhalation devices that would enable rapid and deep penetration of the drug into the lungs with a view to evaluating them further."

On a slightly different tack, in the prelims the company said they would hope to announce the outcome of the Vistagen work over 'the next quarter'. Taking that as over the 3 months following the end of July, that takes us through to the end of this month.

Thats alright, was useful convo to bring up as it made me revisit the previous rns's mentioning inhaler and the interviews with Dan back through to Nov last year.

I'm not so concerned that they haven't updated re. selecting an inhaler type as thats not price sensitive, so wouldn't expect them to RNS it.
Its more the fact that they were still talking at the end of July about developing the formula that would work with the inhaled route.

olderbutwiser, see https://www.nuformix.com/news/nuformix-and-vectura-complete-1m-innovate-uk-research-grant/

Cambridge, UK - 18th September 2015

Following the original announcement in 2014, Nuformix is pleased to announce that it has successfully completed its Innovate UK project with Vectura. Awarded under its Formulated Products competition, IUK has supported the collaborative development of new cocrystal-based respiratory therapies.

Nuformix Chief Executive Officer Dr Dan Gooding said: “The Vectura project has been a stand-out success for Nuformix. Pairing Nuformix’s expertise in cocrystal discovery and development with Vectura’s world-leading capability in inhalation formulation has generated new understanding and applications for cocrystal technology in inhaled products, not to mention the validation the project provides to the technology and our approach. Nuformix has learned a great deal from the partnership and I am certain that this will translate into both IP and value creation via future new products.”

Purves, where did you hear they've been testing them?

Once I can pronounce Ubiquitination properly I might actually figure out what it means!

A good overview of how tranilast works in many different areas.

https://www.researchgate.net/publication/268690204_Tranilast_A_review_of_its_therapeutic_applications

Interesting point SSM re Dan and Qureight. Although previously at nfx Dan was particularly anti-AI. Also he is just an advisor at Qureight and not on the board, so I don’t see it as being him main employment role.

I still believe he is a co founder of Ebers though.

DG probably has some form of lock in agreement from his resignation.
I.e he could leave at ridiculously short notice but promise not to sell any for a year.

It’s been clear for months that nobody knows when, only people with an agenda have been pretending they know more.

Proactive has just put up a strange little article on NFX, doesn't say anything new but is dated 1st Sept even though it talks about the Oxilio deal which was only announced last week.

https://www.proactiveinvestors.co.uk/companies/news/930594/nuformix-takes-conservative-path-on-cancer-and-ipf-developments-930594.html