HELSINKI, February 4, 2022 /PRNewswire/ — Nanoforman innovative medical nanoparticle support company, today announced that it has signed a GMP1 manufacturing program (clinical development) to improve TargTex’s Glioblastoma multiforme drug candidate. The program begins with a PoP (Proof of Process) phase.
This follows a successful PoC (Proof of Concept) study where the hydrogel formulation developed by Nanoform (CESS®2 technology-based nanoparticles) resulted in a five-fold increase in drug loading compared to nanogrinding, the less efficient alternative.
TargTex (www.targtex.com), a European biotechnology company, is developing an innovative hydrogel-based pharmaceutical product for a still largely unmet medical need: the treatment of glioblastoma multiforme (GBM). About 3 in 100,000 people develop the disease each year. GBM is the most aggressive type of cancer that starts in the brain and there is no effective treatment yet for this deadly disease. TargTex’s drug candidate has already shown efficacy in animal models.
The value of GMP and non-GMP projects (PoP) is, according to Nanoform’s guided economic model, 0.5 to 10 million euros per GMP project and 0.05 to 0.5 million euros per project non-GMP. The value of the PoP and GMP contract announced today is low at seven figures (€).
Christian JonesCCO of Nanoform, commented: “We are delighted to announce the successful progression towards PoP and GMP manufacturing of TargTex’s GBM program. We are delighted to have played a key role in the development of this unique formulation using our proprietary technology and formulation expertise, which has enabled effective drug delivery and will bring hope to patients with a brain cancer in the world. »
1 Good Manufacturing Practices; 2 Controlled expansion of supercritical solutions
For more information, please contact:
Albert Hæggström, Chief Financial Officer
[email protected] / +358 29 370 0150
[email protected] / +44 7804 474 771
Nanoform is an innovative company promoting nanoparticle medicine. Nanoform works with pharmaceutical and biotechnology partners around the world to bring hope to patients in the development of new and improved medicines using Nanoform’s platform technologies. The Company is focused on reducing clinical attrition and improving drug molecule performance through its nanoforming technologies and formulation services. Nanoform’s capabilities include GMP manufacturing, and its services span the small and large molecule development space with a focus on addressing key drug solubility and bioavailability issues and enabling new drug applications. administration of drugs. Nanoform shares are listed on the Premier Segment of the Nasdaq First North Growth Market in helsinki (symbol: NANOFH) and stockholm (symbol: NANOFS). Certified Advisor: Danske Bank A/S, Finland Branch, +358 40 744 1900. For more information, please visit http://www.nanoform.com
This press release contains forward-looking statements, including, without limitation, statements regarding Nanoform’s strategy, business plans and direction. The words may, “will”, “could”, “would”, “should”, “expect”, “plan”, “anticipate”, “intend”, “believe”, “estimate”, “predict”, “project”, “potential”, “continue”, “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. All forward-looking statements contained in this press release are based on management’s current expectations and beliefs and are subject to a number of important risks, uncertainties and factors that may cause actual events or results to differ. differ materially from those expressed or implied by any forward-looking statement. statements contained in this press release, including, without limitation, all relating to Nanoform’s business, operations, clinical trials, supply chain, strategy, goals and anticipated timelines, competition from other companies and other risks specified in Nanoform’s published prospectus (the May 22, 2020) in connection with Nanoform’s initial public offering (the “Prospectus”) under “Risk Factors” and in our other filings or documents provided to the Finnish Financial Supervisory Authority in connection with the Prospectus. Nanoform cautions you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Nanoform disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which such statements may be based, or which may affect the likelihood that actual results will differ from those set forth in forward-looking statements. All forward-looking statements contained in this press release represent the views of Nanoform only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.
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