HELSINKI, March 31, 2021 /PRNewswire/ -- Nanoform Finland Plc, an innovative nanoparticle medicine enabling company, and Nacuity Pharmaceuticals, a Texas-based clinical stage pharmaceutical company, today announced that they have signed a Technology Proof of Concept ("PoC") Agreement, with compensation on standard commercial terms. This will apply Nanoform's award-winning nanoparticle CESS® technology to enhance ophthalmic drug delivery of Nacuity's NPI-001 and NPI-002 drug candidates. This work will explore the feasibility of the patented CESS® process ("Controlled Expansion of Supercritical Solutions") to produce nanoparticles of both molecules in an effort to enhance ophthalmic drug delivery.
Nacuity focuses on ophthalmology and leverages their diverse library of novel antioxidant molecules to address ocular diseases involving oxidative stress. Such stress has been implicated in a variety of ophthalmological conditions and diseases, such as retinitis pigmentosa (including Usher syndrome) cataract, cystinosis, age-related macular degeneration, corneal endothelial cell loss, diabetic retinopathy, glaucoma and presbyopia.
Many pharma and biotech companies struggle to realize the full therapeutic potential of their drug candidates stymied by physico-chemical limitations, solubility and bioavailability challenges. Active pharmaceutical ingredients converted to nanometer-sized particles using the CESS® process may exhibit greater dissolution rate and intrinsic solubility and offer the potential to enhance penetration into tissues.
This presents a unique opportunity to explore how nanoformed particles may enhance the performance of Nacuity's proprietary ophthalmic drug product candidate formulations, inserts and implants.
"Optimization of particle size distribution in the nanometer range offers elegant potential for minimal ocular irritation and maximum bioavailability as well as efficacy," said G. Michael Wall, SVP and CSO, Nacuity Pharmaceuticals, Inc.
"We see significant interest in the ophthalmology field for Nanoform's technologies. The team at Nacuity has a long and accomplished track record in this field and we are therefore delighted to announce this new relationship with them" said Prof. Edward Hæggström, CEO of Nanoform.
"Exploring Nanoform's novel nanoparticle technology opens up new possibilities for enhancing formulation performance of both NPI-001 and NPI-002 in the ophthalmology space. We are eager to work with Nanoform and hope that this joint effort yields innovations for patients struggling with everyday challenges of ocular diseases" said Halden Conner, Chairman, CEO, and Co-Founder of Nacuity Pharmaceuticals, Inc.
For further information, please contact:
Christian Jones, CCO
+44 7804 474771
For investor relations queries, please contact:
Henri von Haartman, Director of Investor Relations
+46 7686 650 11
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 40 562 1806. For more information please visit http://www.nanoform.com
About Nacuity Pharmaceuticals
Nacuity Pharmaceuticals, Inc. a Fort Worth, Texas-based clinical stage biotech company focused on advancing treatments for ocular conditions involving oxidative stress. Nacuity is funded by Foundation Fighting Blindness (https://www.fightingblindness.org) grants as well as private investors. For more information please visit https://www.nacuity.com/
Forward-Looking Statements (Nanoform)
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.
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