Nuformix Share Discussion Threads

[spurs90] 02/1/2021 17:48

Operational Highlights

Leadership Team Expansion

During the period the clear focus was on the expansion of the leadership team, leading to the appointment of Dr Anne Brindley as CEO post period end and strengthening of the Board with two new Non-Executive Directors that bring additional R&D, business development and financial leadership experience to the Company.

Both appointments will be ‘extremely valuable’ as the Group moves forward with its near-term licensing opportunities and to provide the Board with additional and relevant experience. The experience that Maddy brings will strengthen the Group's financial governance as she takes up the role of Chair of the Audit Committee.

NXP002

Furthermore, progress was also made on the commercialisation front with further the development of the lead Asset, NXP002 which led to evaluate the benefits of NXP002 alone and in combination with standard of care for the treatment of Idiopathic Pulmonary Fibrosis (IPF), a serious lung disease.

Whilst discussions continue in Asia regarding the licensing of Asian rights to NXP002, the Group has also expanded its activities to evaluate additional licensing opportunities.

With regards to other portfolio assets, the Company signed an exclusive option agreement with Oxilio Ltd for the development and exploitation of NXP001 in oncology indications, and continued to strengthen patent portfolio, especially on the early-stage asset NXP004

NXP001

An option to license the use of Nuformix patents covering NXP001, without the need for development commitment, was granted to Oxilio Ltd "Oxilio" and announced in September 2020. The agreement with Oxilio triggered an undisclosed up-front payment for an exclusive option period of 6 months from September 2020 and within which period the global licensing agreement can be triggered. Should Oxilio exercise the option, Nuformix will licence its patent estate and know-how on NXP001 in return for an upfront payment and additional development milestones, with a royalty on net sales, capped at £2m per annum.

NXP004

NXP004 uses Nuformix proprietary technology applied to the active drug of a multi-billion-dollar product currently marketed for oncology indications.

Despite the commercial success of the marketed product, side-effects pose a significant challenge to its existing use and extension into new indications, that could benefit from the mechanism of action of NXP004.

The Company is currently evaluating new IP that could overcome some of the challenges posed by the originator's formulation.

Additionally, in August, the Group reported results from a pre-clinical pilot study evaluating the anti-fibrotic and anti-inflammatory effects of NXP004 against standard of care, a therapeutic area not currently exploited by the originator of the drug.

The Company successfully completed a placing on 7 October 2020 raising additional cash of £650,000 before expenses for the Company post period end.

The Company has also appointed Allenby Capital as sole broker

After the period end, the Group submitted an application for an Innovate UK Grant to support the development of NXP002 in IPF and with potential in other respiratory diseases including respiratory complications arising as a result of Covid-19.

Dr Chris Blackwell, Non-Executive Chairman of Nuformix, said: “A key priority for the Group was to establish strength in the areas of drug development, business development and financial control. With the successful appointment of an experienced CEO in Dr Anne Brindley, and our new Non-Executive Directors, Maddy Kennedy and Dr Julian Gilbert, we can now look forward to driving the value we all see in Nuformix. As our discussions continue on NXP002, I look forward to working with Anne and the rest of the Board, as the Group moves forward under its new leadership."

Outlook

The Company has already pencilled in significant Newsflow for 2021.

Firstly, Results from the pre-clinical studies to evaluate the benefits of NXP002 alone and in combination with standard of care for the treatment of IPF are expected in the first quarter of 2021.

The Group will also announce their plans for NXP004, following the positive anti-fibrotic and anti-inflammatory effects of NXP004 against standard of care, a therapeutic area not currently exploited by the originator of the drug.

The Group will also receive notification from Innovate UK, as to its grant application. Whilst success would provide important finances for NXP002, it is by no means assured, and the Board is therefore in the process of considering contingencies and additional sources of investment to supplement its existing cash resources and to provide additional cash runway for the Group.

With an augmented Board and new CEO in place, bringing additional expertise and new leadership, the Group believes it is ‘now in a position to drive its near-term strategic priorities focussed on deriving optimal value through business development and licensing opportunities with its existing assets.’

Dr Anne Brindley, CEO of Nuformix, said: "One of the attractions of Nuformix when I joined the Company just three weeks ago was the opportunity to grow value from its key assets. I relish the opportunity to work with the team on our strategic priorities and will update the market further in Q1 2021.”

[sikhthetech] 02/1/2021 17:46

For fx sake
#6976
"I once held shares in a company called QXL that underwent that kind of nonsense."

I like to search 'qxl' on the odd occassion to see if there's still any mention of it. It's amazing how qxl is still talked about, 12 yrs after it was taken over.
I don't remember you posting on qxl - which id was you using at that time?


Yes they were 1st UK online auction company but Ebay had the financial muscle to market themselves but were short sighted when it came to Eastern Europe.

The were taken over by Naspers in 2008 for £700m(I think). Naspers then sold them on and tripled their investment.

Now Qxl, known as Allegro, is worth $19bln - imagine if we still held them today. Compare that to the mere £7m offered by the Bod!!!

[frogyboyo] 01/1/2021 02:10

Ok well keep taking the pills mate!!!

[jamie414] 31/12/2020 14:33

Al good me toss pot, I'm not the one flipping out on forums about my investment ;)

[frogyboyo] 31/12/2020 12:10

Oh dear poor Jamie must be feeling very unhappy.

[jamie414] 31/12/2020 01:27

Try to sell your backside for 50p a go.You might make more than you do in this game lolMaybe! Always some weirdo with 50p pmsl Happy new year tosspot

[frogyboyo] 31/12/2020 01:22

Lovely man that. Lovely man. Happy New year.

[frogyboyo] 23/12/2020 17:06

Happy Christmas to you all. Let's pray the share price is many times higher this time next year.However I predict there will be no NFX this time next year which SHOULD be a good thing for us!!

[hollywood6] 22/12/2020 12:45

I must admit it sounds like a placing is going to happen here. I don't see the need to even mention the application for a grant as this may not even be approved, it screams desperation to me.I'm disappointed there has been no communicated improvement Re "discussions" NXP002. The fact that we have never know what stage discussions we're at mean we would have no comparison even if we knew where we are now!

[for fx sake] 22/12/2020 11:20

I wonder how much of that is going on new brokers and legal representation oh and not to forget, 3 extra new mouths to feed.If something doesn't happen quickly, they will soon be back cap in hand.

[geewizz1] 22/12/2020 11:11

They have more than you say as you seem to have forgotten the additional 650,000 pounds raised in October.

[for fx sake] 22/12/2020 10:27

Because of this statement regarding the application for innovate grant:"whilst success would provide important finances for NXP002, it is by no means assured, as these grants are highly competitive. The Board is therefore in the process of considering contingencies and additional sources of investment to supplement its existing cash resources and to provide additional cash runway for the Group"also because, although the have 4m in net assets, only 216k is in cash or cash equivalents.So, to sum up:Ebers - MIAVistagen- MIAOxilio - MoonshotNXP004 - keep quiet on that for nowThat leaves us with NXP002 and our very silent/reluctant "partner". One could be forgiven for thinking that the "partner" is more interested in sitting around, waiting for our cash reserves to run out so they can acquire the tech for nothing.They say that they are exploring other avenues for NXP002 as well. Which brings me to the conclusion that they may have big designs on pulling in huge external investment to fund their own development. Hence, the new internal appointments and broker. The dilution of such a big cash raise for this purpose will probably wipe existing small PI's out.

[dennisbergkamp] 22/12/2020 09:17

They raised in October, why would they raise again two months later?

That’s too soon

D

[john henry] 22/12/2020 08:59

Placing @ 2p imho

[peverill] 22/12/2020 07:32

Reads as a fresh start,probably cleared out anything they couldn't control and not worth chasing.Best to treat the RNS as a new beginning,they need money so concentrate on near term incomes and the rest will follow.The new broker smells of fund raiser,but they will probably need funds to progress the various programs,so sit back,enjoy Christmas and see what Q1 2021 brings,Merry Christmas to all.

[amaretto1] 22/12/2020 07:31

U made the mistake of falling in love with a share !!Fatal ..... red flags were waving months ago This tech has been tryed years ago !!

[dan de lion] 22/12/2020 07:31

New Broker to to raise more funds, dilution on the horizon:-

Allenby Capital currently advise over 60 corporate clients listed on the London Stock Exchange main market, AIM or Aquis exchanges. Allenby Capital will provide access for Nuformix to a broad spectrum of investors including institutional investors, family offices, private client brokers and high net worth individuals.

[soupdragon55] 22/12/2020 07:24

Looks like that's been dropped as well as Vistagen.

[dan de lion] 22/12/2020 07:22

No mention of any cannabinoid development or Ebers, surely if that had fallen through then it should have been announced via RNS, supposed to have been a Company making deal?

Gone the same way as the China millions!

[for fx sake] 21/12/2020 15:17

Ebers, are they still going?

[carlisle44] 21/12/2020 11:23

My word time freeze here.

Ebers to buy us out?

[jpuff] 21/12/2020 10:31

My buy showing as a sale

[carlisle44] 18/12/2020 16:21

Thanks Spurs. Very promising