Nuformix PLC (LON:NFX) is a specialist in cocrystal technology, which repurposes existing drugs for new uses, and has adopted a business model of licensing agreements and fee-for-service work; the use of its technology to create ‘out-licensing’ opportunities; co-development tie-ups to extend the patent life of generic products.
How it’s doing
In August, Nuformix said the preparations are underway “for first clinical exposure” of its anti-fibrotic candidate, NXP002, and added that it is “looking at all options for deriving value from this product globally”.
The NXP004 programme in idiopathic pulmonary fibrosis (IPF) had also showed promise in a key area in early-stage pre-clinical trials, it said in an update.
In oncology, Nuformix has granted Oxilio a six-month option over NXP001, which the latter will develop as a cancer treatment.
If the option is triggered, Nuformix will receive a “significant upfront payment”, additional development milestones and a royalty on net sales capped at £2mln a year. In return, Oxilio will get a licence to the patent estate and ”know-how” related to NXP001.
There was an after-tax deficit £756,000 in the year to March with cash of £544,000 at the end of the period.
What the boss says: Chris Blackwell, executive chairman
“Whilst we are optimistic, we remain conservative and focused on delivery for both our in-house and collaborative development programmes and with a determination to create and deliver shareholder value."