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Helsinki, Finland – Nanoform Finland Plc, an innovative nanoparticle medicine enabling company, has continued to see positive commercial momentum since its June 4th, 2020 initial public offering. Despite the ongoing COVID-19 pandemic the company has been able to show progress by signing two experienced commercialization experts in the U.S. and a new customer.
Nanoform has signed two new members onto its business development team, who will accelerate the commercial growth of the company’s award-winning CESS® nanoparticle engineering technology platform in the U.S. market. A strengthened commercial presence in the U.S. is a natural progression for Nanoform, following the establishment of a U.S. subsidiary earlier this year. Once these individuals start during the second half of 2020, their appointments will be announced in more detail.
Nanoform’s latest proof-of-concept study contract was also signed in June with a UK Respiratory Biotech company.[1] Nanoform is on course to achieve its near-term business target of acquiring more new customers in 2020 than in 2019, having already signed the same number of contracts in the first half of this year as during the full year 2019[2].
Christian Jones, CCO of Nanoform, said: “I am delighted by our progress so far this year. Despite the challenges COVID-19 has created globally, we have already signed contracts with an equal number of new customers during the first half of 2020 as we did during the entirety of 2019, and we continue to see strong market interest in our technology. Expanding the business development team in the U.S. will serve to accelerate our market traction and provide our U.S. partners with the necessary focus they deserve.”
Further enquiries:
Albert Hæggström, CFO
albert.haeggstrom@nanoform.com
+358 29 370 0150
Henri von Haartman, Director of Investor Relations
hvh@nanoform.com
+46 7686 650 11
The information was submitted for publication, through the agency of the contact persons set out above, at 09.00 Finnish time, on July 8, 2020.Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 562 1806
Nanoform in brief
Nanoform Finland Plc is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to reduce attrition in clinical trials and enhance their molecules’ formulation performance through its nanoforming services. The Company’s patented and scalable Controlled Expansion of Supercritical Solutions (CESS®) technology produces nanoformed API particles as small as 10nm. This enables poorly soluble molecules in the pharmaceutical pipeline to progress into clinical development by increasing their rate of dissolution and by improving their bioavailability. Nanoform’s unique technology provides novel opportunities in many value-enhancing drug delivery applications.
Nanoforms’s shares are listed on Nasdaq First North Premier Growth Market Finland, under the trading code “NANOFH”, and Nasdaq First North Premier Growth Market Sweden, under the trading code “NANOFS”.
Important information
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa. The information contained herein does not constitute an offer of securities for sale or purchase anywhere in the world.
The shares of Nanoform Finland Plc (the “Shares”) have not been, and will not be, registered under the United States Securities Act of 1933, (the “Securities Act”), or the securities laws of any state of the United States or other jurisdiction, and, therefore, the Shares may not be offered or sold directly or indirectly in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. In Nanoform’s initial public offering completed on June 4, 2020, the Shares were offered and sold outside the United States pursuant to, and in accordance with, Regulation S of the Securities Act, and other applicable securities regulations in each jurisdiction in which the Shares were offered.
[1] As communicated in the prospectus published (on May 22, 2020) in connection with Nanoform’s initial public offering (the “Prospectus”), the revenue generated by the Company per proof-of-concept or proof-of-process project is expected to be between EUR 50 thousand and EUR 500 thousand per active pharmaceutical ingredient per project, depending on the project specific circumstances. The value of the contract is in line with this expectation.
[2] As communicated in the Prospectus, the Company’s near-term business targets for 2020 and 2021 are:
•to start its first GMP project before year-end 2020;
•to acquire more new customers in 2020 than in 2019; and
•to deliver the first dosing of nanoformed APIs in humans in 2021