Nuformix PLC Admission and First Dealings (6265T)

TIDMNFX

RNS Number : 6265T

Nuformix PLC

16 October 2017

16 October 2017

Notice of Admission to Trading on The Official List and to Trading on the London Stock Exchange's Market for Regulated Securities

Nuformix plc (ticker: NFX)

Following a Reverse Takeover on the London Stock Exchange's market for regulated securities the undermentioned securities Nuformix plc (formerly Levrett plc: named changed 13 October 2017) will this morning be admitted to the standard segment of the Official List and are expected to commence trading on the London Stock Exchange's main market for listed securities this morning, 16 October 2017, at 8.00 a.m. ticker: NFX

 
 Name:    NUFORMIX PLC   Security:   ORDINARY SHARES 
                                      OF 0.1P EACH, FULLY 
                                      PAID 
-------  -------------  ----------  --------------------- 
 SEDOL:   BYW79Y3        ISIN:       GB00BYW79Y38 
-------  -------------  ----------  --------------------- 
 

Nuformix Summary

Nuformix is a UK incorporated pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs. It has discovered, developed and patented novel cocrystal forms of approved small molecules, creating an IP portfolio containing 14 granted patents covering cocrystal forms of five small molecule drugs. It has identified two drug cocrystals that the Directors and Directors on Admission believe represent stand-out commercial and therapeutic promise and is seeking to progress these programmes to human pharmacokinetic (PK) studies, funded by the Placing:

NXP001:

-- NXP001 is based on a currently marketed treatment in the field of oncology supportive care, which addresses some of the severe side effects faced by cancer patients in their treatment.

-- It provides entry into the large and growing oncology supportive care market, currently estimated at GBP17.5 billion per annum, rising to GBP23.5 billion in 2021.

NXP002:

-- NKP0002 is based on a known drug for the treatment of allergies. In this case, Nuformix seeks to reprofile the drug to treat a range of fibrotic conditions, which can occur in organs such as the lungs, liver or heart.

-- NXP002 provides a route into the large, emerging fibrosis market, currently estimated at over $1 billion in the US for lung fibrosis alone, with a safe and innovative treatment.

-- The Directors and Directors on Admission believe that there is high unmet need in an exponentially growing and critically ill patient population and strong potential for early out-licensing given the potential to treat a breadth of fibrotic conditions.

Nuformix Strategy

The Directors and Directors on Admission believe that approved drugs offer the potential to generate significant value in new therapeutic uses, as proven safety reduces development risk/cost and increases speed to clinic/market versus traditional biotech models. Nuformix's strategy seeks to harnesses these strategic advantages:

-- Identify known drug molecules with the potential to function as innovative therapies for unmet medical needs

-- Use cocrystal technology to protect and enable such molecules towards new commercially attractive product opportunities

-- Lower-risk human studies will provide validation to support out-licensing and further development by pharmaceutical partners

-- A balanced pipeline combines assets for early out-licensing with those offering significant mid-term partnering potential

-- Early licensing revenues allow Nuformix to self-fund future discovery and development and build greater value into our pipeline

Development Pipeline

The Enlarged Group intends to use cocrystal technology as applied to pharmaceutical development both for:

-- Innovative Generics: Deliver a material benefit to an existing drug in its existing use, such that therapeutic and commercial advantages are created (e.g. reduction of side effects)

-- Drug Reprofiling: Creating novel uses for existing drug molecules in areas of unmet need that would not be possible for the pure drug form.

The Directors and Directors on Admission believe that this approach will allow re-use of existing safety data, reducing the time and cost of achieving clinical proof-of-concept and increasing success rates versus traditional biotech models.

Nuformix has completed research partnerships with Vectura Limited ("Vectura") (LSE:VEC) and Magnus Oxygen Limited ("Magnus"). Patents have been filed as a result of collaborative research in each partnership.

Follow Nuformix on Vox Markets: follow at www.voxmarkets.co.uk/company/NFX

and www.nuformix.com

Enquiries:

 
 Nuformix plc 
  Dan Gooding, Chief Executive 
  Officer                          [phone] 
 Whitman Howard Limited 
  Nick Lovering                   [phone] 
 Gable Communications 
  Ltd 
  John Bick / Justine 
  James                           [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 16, 2017 02:00 ET (06:00 GMT)