- Date 7 Jun 2019
- Sectors Life Sciences
Nuformix (LSE: NFX), the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs, is pleased to announce positive results in its clinical study for the Company's lead programme NXP001.
NXP001 is in development as a treatment for chemotherapy-induced nausea and vomiting ("CINV"), a large, under-exploited and growing market, which in demographic terms comprises one third of global cancer patients.
In a pilot study in healthy subjects, a proprietary cocrystal-based formulation developed within the NXP001 programme demonstrated bioequivalence to Merck's EMEND® at 125mg both in terms of peak exposure and overall exposure (Cmax and AUC).
The positive results from the trial now enable the Company to:
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Confirm NXP001's potential for development as a treatment for CINV, enabling current and future licensees to launch new products into the £16bn oncology supportive care market
Trigger a final milestone payment of £2m from its Chinese licensing partner, Newsummit Biopharma, who have commenced product registration in China (Nuformix retains 10% royalty, with remaining milestone payments expected during June 2019)
Progress on-going discussions for licensing rest of world rights to NXP001 for CINV
Finalise further product development opportunities for the NXP001 programme to generate additional future value
Progress its wider portfolio using the Company's proven approach in identifying high-value applications for cocrystal technology
Dr Dan Gooding, CEO, Nuformix plc, said: "We have now delivered a successful outcome in Nuformix's first clinical study. The results have positive implications for our NXP001 programme and provide further validation for Nuformix's overall business model. The results trigger payment of the final £2m milestone from Newsummit Biopharma, advance product registration in
China and allow us to progress further discussions for out-licensing NXP001 worldwide.
"Clinical success with NXP001 demonstrates the potential for our wider pipeline. We now seek to replicate our approach of using known drugs to create value with reduced risk and costs of development to build a wider pipeline of innovative therapies. This will be achieved both with in-house programmes and in other collaborations, such as that announced previously with Ebers. We look forward to updating the market as we build on today's success to make progress both technically and commercially across the Nuformix portfolio."