On September 13, 2021 Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, reported that it has signed an exclusive global licensing agreement with Oxilio Ltd ("Oxilio"), a privately held pharmaceutical development company, for NXP001 (a proprietary new form of aprepitant) for oncology indications (Press release, Nuformix, SEP 13, 2021, View Source [SID1234621606]).
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Under the terms of the licensing agreement, Oxilio has obtained an exclusive licence to research, develop and commercialise NXP001 globally for oncology indications. Nuformix is eligible to receive an undisclosed upfront payment, development milestone payments and a royalty on net sales, capped at £2 million per annum.
• On 23 September 2020, Nuformix granted an exclusive option to Oxilio to license NXP001 globally for oncology indications. This triggered an undisclosed upfront payment.
• On 22 March 2021, Oxilio exercised its option to acquire a licence for NXP001. Oxilio and Nuformix then began working together to finalise an exclusive global licensing agreement for NXP001.
Dr Anne Brindley, CEO of Nuformix, said: "We are delighted to complete the licensing agreement with Oxilio-achieving this exclusive global licensing deal for NXP001 in oncology is a major step forward as it validates the Nuformix technology and intellectual property, and also endorses our strategy of repurposing drugs and licensing at an early stage. Nuformix will now concentrate on developing its two lead assets NXP002 and NXP004."
Dr Simon Yaxley, Co-Founder and Director of Oxilio said: "We are pleased to expand our clinical development pipeline with the licensing of NXP001, which is highly complementary to our strategy of identifying, repurposing and commercialising existing drugs to address unmet needs in cancer therapy. NXP001, a novel form of aprepitant with improved properties, and its Phase 1 study demonstrates the potential for improved bioavailability without needing a complex formulation. Our hope is for the consolidated efforts under the agreement to enable Oxilio to accelerate the development of NXP001 and bring new treatment options to a broad range of cancer patients."