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Nuformix receives £500,000 milestone payment

The AIM-listed group will receive a further £2mln when it passes the next development landmark
Nuformix receives £500,000 milestone payment
The company re-purposes already-approved drugs

Nuformix PLC (LON:NFX) has passed a pre-clinical milestone for its cancer drug, NXP001, triggering a £500,000 milestone payment from partner Newsummit Biopharma.

The AIM-listed group will receive a further £2mln if it is able to demonstrate bioequivalence to a reference product. In layman’s terms, this means NXP001 must have the same pharmaceutical effect as the reference drug.

Nuformix uses cocrystal technology to re-engineer crystalline drugs. This helps unlock the therapeutic potential of already-approved small molecule treatments.

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