Nanoform signs GMP manufacturing program with TargTex following formulation success

Nanoform signs GMP manufacturing program with TargTex following formulation success

Helsinki, Finland – Nanoform, an innovative nanoparticle medicine enabling company, today announced it has signed a GMP¹manufacturing program (clinical development) to enhance TargTex’s Glioblastoma multiforme drug candidate. The program starts with aPoP (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) enabled a fivefold increase in drug load compared to nanomilling, the less effective alternative.

TargTex (www.targtex.com), a European biotech company, is developing an innovative hydrogel based pharmaceutical product for a highly unmet medical need: Glioblastoma multiforme (GBM) treatment.  About 3 in 100,000 people develop the disease each year. GBM is the most aggressive type of cancer that begins within the brain and there is as of yet no efficacious treatment for this deadly disease. TargTex’s drug candidate has already shown efficacy in animal models.

The value of the GMP and non-GMP (PoP) projects are according to Nanoform’s guided business model, €0.5m to €10m per GMP project and €0.05m to €0.5m per non-GMP project. The value of the today announced PoP and GMP contract is low seven figures (€).

Christian Jones, CCO of Nanoform, commented: “We are delighted to announce the successful progression into PoP and GMP manufacturing of TargTex’s GBM program. We are pleased 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 brain cancer patients globally.”

¹ Good Manufacturing Practice; ² Controlled Expansion of Supercritical Solutions

For further information, please contact:

Albert Hæggström, CFO

albert.haeggstrom@nanoform.com / +358 29 370 0150

Christian Jones, CCO

christian.jones@nanoform.com / +44 7804 474 771

About Nanoform

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 clinical attrition and on enhancing drug molecules’ performance through its nanoforming technologies and formulation services. Nanoform’s capabilities include GMP manufacturing, and its services span the small to large molecule development space with a focus 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 40 744 1900. For more information please visit http://www.nanoform.com

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