Nuformix PLC Ebers Cannabinoid Collaboration Update (6247L)
09 Septiembre 2019 - 1:00AM
UK Regulatory
TIDMNFX
RNS Number : 6247L
Nuformix PLC
09 September 2019
9th September 2019
Nuformix plc
("Nuformix" or "the Group"),
Ebers Tech Strategic Cannabinoid Collaboration Update
Nuformix, the pharmaceutical development company using cocrystal
technology to unlock the therapeutic potential of approved small
molecule drugs is pleased to update shareholders on its
collaboration with Ebers Tech Inc. (Ebers), a private Canadian
cannabinoid development company backed by leaders from the
financial sector with connections to major vertically integrated US
cannabinoid players.
Nuformix and Ebers are pleased to announce a first patent filing
in relation to novel cannabinoid cocrystals following the
commencement of development activities under the previously
announced Strategic Cannabinoid Agreement (the "Agreement").
Under the Agreement, Ebers gained exclusive access to Nuformix's
existing cannabinoid IP and technology platforms to enable the
development of differentiated cannabinoid products. This first
resulting patent filing relates to novel forms of a
naturally-occurring cannabinoid, which is the subject of growing
scientific interest as its therapeutic promise becomes increasingly
validated. The patented cannabinoid forms have immediate
applications in both pharmaceutical and consumer products
worldwide, which in due course, will generate further milestone
payments, plus royalties to Nuformix of 20% under the Agreement
terms.
Nigel Little, Director of Ebers, said: "We're excited Nuformix
have achieved this first patent filing for Ebers Tech. From a
strategic perspective, Nuformix's proven track-record in securing
worldwide patent protection for improved drug forms provides Ebers
with an opportunity to generate high-value IP, identified as a
limitation within the emerging cannabinoid market. This a key
milestone in allowing Ebers to create and protect superior
cannabinoid products for consumer product and therapeutic
applications."
Dr Dan Gooding, CEO, Nuformix plc, added: "We're delighted to
secure this opening cannabinoid IP filing, which serves as the
first disclosable validation of the Ebers agreement. The number of
patents filed is one of several key performance indicators for the
collaboration and demonstrates the partnership and overall concept
are well-founded. For Nuformix, this first patent filing creates a
path to further income from Ebers. We will continue to inform the
market as further patents are filed and milestones and royalties
are paid in-line with the agreement".
All R&D work conducted by Nuformix and its partners in the
UK will be conducted in compliance with UK legislation regarding
controlled substances.
Market Abuse Regulation (MAR) Disclosure. Certain information
contained in this announcement would have been deemed inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the publication of this announcement via a
Regulatory Information Service and accordingly, this inside
information is now considered to be in the public domain.
Enquiries:
Nuformix plc
Dr Dan Gooding, Chief Executive
Officer +44 (0)1223 627222
Optimum Strategic Communications
Mary Clark, Supriya Mathur +44 (0) 20 3950
Email: nuformix@optimumcomms.com 9144
About Nuformix plc www.nuformix.com
Nuformix is a pharmaceutical development company using cocrystal
technology to unlock the therapeutic potential of approved small
molecule drugs. Nuformix's risk-mitigated development strategy has
resulted in a pipeline of discoveries through which it has
developed and patented novel cocrystal forms of approved small
molecules.
Nuformix's IP portfolio of granted patents covers cocrystal
forms of five small molecule drugs. Nuformix is targeting
high-value unmet needs with its lead programmes in oncology
supportive care: NXP001 and fibrosis: NXP002.
Nuformix was established in Cambridge in 2009 and has invested
in pharmaceutical cocrystal R&D, establishing world-class
capability and know-how in cocrystal discovery and development,
yielding multiple product opportunities.
Nuformix plc shares are traded on the London Stock Exchange's
Official List under the ticker: NFX.L.
About Ebers Tech Inc
Ebers Tech Inc is a private Canadian company backed by leaders
from the financial sector focussed on the development of superior,
differentiated cannabinoid products for a multitude of consumer
product and therapeutic applications.
About the Cannabinoid Product Market
The cannabinoid product market is perceived to be a rapidly
growing and significant market in products not containing THC. The
projected US cannabinoid-based pharmaceuticals market alone is
expected to grow US$ 50bn by 20291. The existing wider cannabinoid
product market is large and growing. Global CBD product sales are
estimated at GBP1.1bn in 2018 and forecast to reach GBP22bn by
20252, with GW Pharma's Epidiolex, a CBD-based pharmaceutical
product, forecast to achieve annual sales of GBP1.7bn3. Through the
agreement with Ebers Tech, Nuformix will benefit from adding its
technology to a range of products into multiple markets versus
taking a single product containing our technology into a single
market.
1
https://www.statista.com/statistics/588853/market-size-of-cannabinoid-pharmaceuticals-in-the-us/
2
https://www.zionmarketresearch.com/report/cannabidiol-products-market
3
https://seekingalpha.com/article/4228926-gw-pharmaceuticals-big-upside-expected-revenues
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END
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