Nuformix PLC (LSE:NFX) said Oxilio has signed a service contract to support the formulation development of NXP-001, which the latter has licensed from the former.
Oxilio in turn is working with Quotient (NASDAQ:QTNT) Sciences, a drug development and manufacturing accelerator.
Quotient will provide chemistry, manufacturing and controls batches and stability data to support a clinical trial application for the new formulation of NXP001, an anti-sickness drug currently used in cancer care.
Nuformix is specialist in repurposing existing drugs with established safety profiles for new uses.
Under the licensing deal with Oxilio, the company received an upfront sum, which will be followed by milestone payments as the asset moves through the clinical trial process and royalties on any future sales.
This then leaves Nuformix with bandwidth to concentrate on its two lead assets, NXP002 and NXP004.
“In relation to NXP002 and NXP004, we continue to make significant progress and I look forward to making further announcements in due course," said chairman Alastair Riddell.