2nd May 2025 12:19
(Alliance News) - Nuformix PLC on Friday said it has continued to "advance and exploit" assets in its portfolio, two days after noting a positive opinion from an EU committee for NXP002.
The London-based developer of treatments for fibrosis and oncology said pretax loss widened to GBP376,668 in the six months ended March 31, from GBP242,529 a year prior.
Looking ahead, Nuformix said: "The company continues to advance and exploit the current assets within the portfolio through the research & development and business development activities."
It continued: "The strategy of the group is to continue to increase the value of its existing assets while maintaining tight control of costs, including conducting business development/licensing activities using a structured and data-driven approach, with the goal of seeking global licensing deals."
The company said it continued to believe that NXP002 offered a potentially significant treatment of progressive fibrosing interstitial lung diseases.
On Wednesday, Nuformix confirmed that it received notification from the European Medicine Agency's Committee for Orphan Medical Products of its positive opinion regarding Orphan Drug Designation in idiopathic pulmonary fibrosis for tranilast.
Tranilast is an active drug substance enabled for inhaled delivery in Nuformix's NXP002 lead programme.
Nuformix Executive Director Dan Gooding said: "We are delighted to receive news of the COMPs positive opinion regarding NXP002's eligibility for Orphan Drug Designation in IPF, a high-mortality rare disease, in urgent need of new treatments."
He added: "The COMP's opinion also underscores the significant unmet need for patients, in spite of the fact that treatments have been approved in the EU. We will now progress to applying for US FDA orphan drug designation. Given the EMA's positive opinion, we are hopeful that the US FDA would conclude similarly. We have shared the EMA's opinion with potential future licensing partners and will provide further updates in due course as appropriate."
Nuformix shares fell 5.3% to 0.13 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News slot editor
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