logo-loader
viewN4 Pharma PLC

N4 Pharma surges as MedImmune agrees to extend collaboration deal

The two parties had been working together as part of a project funded by the UK government and they have agreed to continue their research

dna
MedImmune wants to work with N4 to develop an “optimised version of Nuvec”

N4 Pharma Plc (LON:N4P) shares surged on Monday morning after the specialist pharma agreed to extend its research collaboration with MedImmune, a subsidiary of UK drugs giant AstraZeneca PLC (LON:AZN).

For the past nine months, the two have been exploring the manufacture of a prototype nanomedicine which uses N4’s Nuvec delivery system, which delivers DNA directly into cells in a bid to encourage the production of anti-cancer antigens.

READ: N4 surges on latest Nuvec study data

That research project was funded by an Innovate UK feasibility grant, although it came to an end last week.

But MedImmune has confirmed that it wants to carry on working with N4 to conduct further research with a view to agreeing on terms for co-development of an optimised version of Nuvec under an “appropriate collaboration agreement”.

“We are delighted that MedImmune is continuing to work with N4 Pharma to evaluate the potential of our Nuvec system,” said chief executive Nigel Theobald.

“MedImmune is able to provide considerable expertise and resources for this work and their continued support for N4 Pharma and Nuvec is a clear indication of Nuvec's potential as a non-lipid, non-viral vaccine delivery technology and an example of how we can establish separate agreements for different versions of the Nuvec platform technology.”

Shares jumped 28.4% to 7.13p on Monday morning.

Quick facts: N4 Pharma PLC

Price: 3.15 GBX

AIM:N4P
Market: AIM
Market Cap: £3.2 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Global Energy Metals in London discussing plans to develop cobalt projects...

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) CEO Mitchell Smith caught up with Proactive's Andrew Scott while in London to update shareholders on progress within its portfolio of cobalt and battery metal projects. Smith says the firm's well-placed to take advantage of the...

10 hours, 30 minutes ago

2 min read