On June 24, 2019 NOXXON Pharma reported that a leading international pharmaceutical company amongst the top-10 pharmaceutical companies by worldwide revenue[1] has signed an agreement with NOXXON for the purpose of evaluating NOX-A12 in a new indication, which will remain undisclosed for competitive reasons (Press release, NOXXON, JUN 24, 2019, View Source [SID1234605506]).

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"This agreement is an exceptional opportunity for NOXXON and a chance for NOX-A12 to deliver a broader therapeutic profile, while we continue to build value in our oncology pipeline in pancreatic, colorectal, and brain cancer and in our company," said Aram Mangasarian, CEO of NOXXON.

NOXXON will supply NOX-A12 to the pharmaceutical company, which will fund and conduct preclinical studies to assess NOX-A12 in an indication which is a serious disease with significant unmet medical need. The market for this indication has been valued at more than a billion Euros. The studies are anticipated to run approximately 10 months, after which the parties may enter negotiations for rights to NOX-A12. As part of the agreement with the pharmaceutical partner performing the studies, NOXXON will not disclose the results until any negotiations are complete. As part of the agreement the pharmaceutical company has certain rights to participate in negotiations regarding the intellectual property relating to NOX-A12.