Nanoform Finland Plc
December 21st, 2020 at 09.00 a.m. Finnish time
First dosing of nanoformed drug successfully accomplished
Helsinki, Finland – Nanoform Finland Plc (“Nanoform”), an innovative nanoparticle medicine enabling company, today announced that the first full cohort of twelve healthy volunteers has during the weekend at Quotient Sciences’ facilities in Nottingham, UK, been successfully dosed in the first ever phase 1 human trial of a nanoformed drug candidate using Nanoform’s proprietary CESS® technology. Results are expected before the end of Q2/2021.
Nanoform has now achieved all its near-term business targets for 2020 and 2021 announced in relation to the IPO. New near-term business targets, in addition to the previously (November 27th) announced “First Biologics PoC project in 2021”, will be communicated in the coming months.
The clinical trial is a progression of Nanoform’s first GMP campaign. In the clinical trial, Nanoform will investigate the behavior of an oral immediate release nanoformed formulation of piroxicam, an anti-inflammatory drug. The study aims to support the potential development of fast-acting forms of piroxicam and other drugs by demonstrating the clinical utility of Nanoform’s CESS® nanoforming technology.
Nanoform’s in vivo and in vitro results suggest that by significantly reducing the size of drug particles, Nanoform’s CESS® nanoforming technology can improve the pharmacokinetic properties of piroxicam. Poor bioavailability and solubility are major causes of failure in the drug development pipeline.
“The first ever manufacturing of a nanoformed drug for a clinical study and dosing in humans truly represents exciting times for Nanoform, our clients and the industry. We proudly look forward to the study results before summer 2021,” said Professor Edward Hæggström, Nanoform’s CEO.
“Innovation in drug development is crucial to move the industry forward, and we are pleased to partner with Nanoform to trial its potentially game-changing technology in humans. The results of the first-in-human trial will provide invaluable data on the efficacy of the technology and its potential to improve the success rate for new drug candidates,” said Mark Egerton, CEO of Quotient Sciences.
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Prof. Edward Hæggström, CEO
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Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to provide hope for patients in developing new and improved medicines utilizing Nanoform’s platform technologies. The Company focuses on reducing attrition in clinical trials and on enhancing drug molecules’ formulation performance through its nanoforming services. Nanoform’s capabilities span the small to large molecule development space and the company focuses on solving key issues in drug solubility and bioavailability and on enabling novel drug delivery applications. Nanoform’s shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 562 1806. 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 focus. 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 these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, any related 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 prospectus published (on May 22, 2020) in connection with Nanoform’s initial public offering (the “Prospectus”) under “Risk Factors” and in our other filings or documents furnished to the Finnish Financial Supervisory Authority in connection with the Prospectus. Nanoform cautions you not to place undue reliance on any 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 any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Nanoform’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.