Nuformix PLC (LON:NFX) announced this morning that it has conditionally raised £1.565mln before expenses by way of a placing of new ordinary shares at 2p per share.
Dr Anne Brindley presents her plans for the new funds, which she explains have strengthened their financial position and in particular means they can drive forward the preclinical development plan for their lead asset (NXP002) to the next value inflection point. Brindley says this is necessary to increase the value of NXP002 and render it more attractive to licensing partners.
In addition, they await the outcome of Oxilio’s option to license NXP001 and the outcome of research and potential further patent application filing on NXP004 that, if successful, would provide an IP licensing opportunity.