Last checked at 13 Sep 2021 07:00
13 September 2021
Nuformix plc
("Nuformix" or the "the Company")
Worldwide licensing agreement with Oxilio for NXP001
Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, is pleased to announce that it has signed an exclusive global licensing agreement with Oxilio Ltd ("Oxilio"), a privately held pharmaceutical development company, for NXP001 (a proprietary new form of aprepitant) for oncology indications.
Under the terms of the licensing agreement, Oxilio has obtained an exclusive licence to research, develop and commercialise NXP001 globally for oncology indications. Nuformix is eligible to receive an undisclosed upfront payment, development milestone payments and a royalty on net sales, capped at £2 million per annum.
· On 23 September 2020, Nuformix granted an exclusive option to Oxilio to license NXP001 globally for oncology indications. This triggered an undisclosed upfront payment.
· On 22 March 2021, Oxilio exercised its option to acquire a licence for NXP001. Oxilio and Nuformix then began working together to finalise an exclusive global licensing agreement for NXP001.
Dr Anne Brindley, CEO of Nuformix, said: "We are delighted to complete the licensing agreement with Oxilio - achieving this exclusive global licensing deal for NXP001 in oncology is a major step forward as it validates the Nuformix technology and intellectual property, and also endorses our strategy of repurposing drugs and licensing at an early stage. Nuformix will now concentrate on developing its two lead assets NXP002 and NXP004."
Dr Simon Yaxley, Co-Founder and Director of Oxilio said: "We are pleased to expand our clinical development pipeline with the licensing of NXP001, which is highly complementary to our strategy of identifying, repurposing and commercialising existing drugs to address unmet needs in cancer therapy. NXP001, a novel form of aprepitant with improved properties, and its Phase 1 study demonstrates the potential for improved bioavailability without needing a complex formulation. Our hope is for the consolidated efforts under the agreement to enable Oxilio to accelerate the development of NXP001 and bring new treatment options to a broad range of cancer patients."
Enquiries:
Nuformix plc | +44 (0) 1223 627 222 |
Dr Anne Brindley, CEO |
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Allenby Capital Limited | +44 (0) 20 3328 5656 |
Nick Athanas / George Payne (Corporate Finance) |
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Stefano Aquilino / Matt Butlin (Sales & Corporate Broking) |
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Walbrook PR Anna Dunphy / Paul McManus | +44 (0) 20 7933 8780nuformix@walbrookpr.com |
About Nuformix
Nuformix is a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing. The Company aims to use its expertise in discovering, developing and patenting novel drug forms, with improved physical properties, to develop new products in new indications that are, importantly, differentiated from the original (by way of dosage, delivery route or presentation), thus creating new and attractive commercial opportunities. Nuformix has an early-stage pipeline of preclinical and Phase 1-ready assets with potential for significant value and early licensing opportunities.
For more information, please visit www.nuformix.com
About NXP001
NXP001 is a proprietary new form of the drug aprepitant that is currently marketed as a product in the oncology supportive care setting (chemotherapy induced nausea and vomiting). A disadvantage of aprepitant is that its sub-optimal properties necessitate a complex formulation. Nuformix discovered and has attained granted patents on new forms of aprepitant (NXP001) with improved properties.
About Oxilio
Oxilio is a privately held pharmaceutical development company focused on repurposing known drugs for the treatment of cancer through a programme of corporate alliances coupled with rapid proof of concept clinical development.
Oxilio will develop and seek to exploit NXP001 globally for the treatment of cancer. It is focused on alleviating the current dilemma of a shortage of effective drug candidates that have potential as new cancer therapies, by adopting a drug repurposing strategy (identifying new uses for approved or investigational drugs that are outside the scope of the original medical indication). The major advantage of this approach is that the pharmacokinetics, pharmacodynamics and toxicity profiles of these drugs are already reasonably well established. Thus, drug repurposing is a less risky development route with substantially lower associated development costs. The agreement with Nuformix allows Oxilio to focus on developing rapidly a unique formulation and dosage form with NXP001 and progressing into the clinic.
For more information, please visit www.oxilio.co.uk.