25th Feb 2020 11:42
(Alliance News) - N4 Pharma PLC on Tuesday reported a narrowed loss for 2019, and said it is working to improve Nuvec dispersion to address in-vivo inconsistencies.
Nuvec is the company's vaccine and cancer treatment delivery system. N4 has repeated a pre-clinical study of Nuvec due to inconsistencies identified in third-party pre-clinical studies.
In the in-vivo testing of Nuvec - that is, testing that takes place in a living organism - the company could not replicate the results of in-vitro testing or testing that takes place outside of a living organism.
According to the company, the in-vivo studies used different dosages, and may have prepared and handled Nuvec differently resulting in the treatment not being ideally dispersed.
N4 said it has completed the first two phases of a programme of work to improve dispersion and has now begun investigating how to maintain improved dispersion of treatments delivered using Nuvec.
N4 said should the program of work reach a successful conclusion, the improved consistency will put the company in a stronger position to embark on licensing discussions with prospective partners.
"We have recently worked on improving the dispersion of Nuvec with a view to addressing some of the inconsistencies seen in previous in vivo work. Our next focus is to assess the improved dispersion with further in vitro and in vivo testing of Nuvec using OVA plasmid DNA whilst working with Nanomerics on producing stable Nuvec formulations," said Chief Executive Nigel Theobald.
Earlier in February, N4 signed a 14-month research collaboration with Nanomerics Ltd to produce and test two candidate formulations using the Nuvec delivery system.
"We believe the work we have done in the last 12 months, together with our ongoing studies, puts our Nuvec delivery system in a stronger position than it was when we first announced our positive in vivo antibody results and we remain excited about the potential for Nuvec to become a credible delivery system in the field of cancer therapeutics and vaccines," added Theobald.
For 2019, N4 recorded a narrowed pretax loss of GBP948,725, from a loss of GBP1.4 million posted for 2018. No revenue was recorded for the period, and a government grant of GBP72,832 received the year prior did not repeat.
However, the pharmaceutical company raised GBP1.1 million of new funds through a placing of shares during the period. As at the end of the year, N4 had cash of GBP965,752.
Looking ahead, N4 Pharma said it will focus on making Nuvec more consistent, easier to handle and more efficacious. It added it is also considering investment and acquisition opportunities to widen its asset base.
The stock was 3.1% lower at 3.05 pence each on Tuesday morning in London.
By Ife Taiwo; [email protected]
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