Nanoform, an innovative nanoparticle medicine enabling company, announced it has signed a GMP1 manufacturing program (clinical development) to enhance TargTex’s Glioblastoma multiforme drug candidate. The program starts 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) 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 (€).
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.
