Nanoform launches technology for biologics and sets new near-term business target for 2021
HELSINKI, Nov. 27, 2020 /PRNewswire/ -- Nanoform Finland Plc ("Nanoform"), an innovative nanoparticle medicine enabling company, today announced a proprietary technology that can form biological nanoparticles as small as 50 nm and announced a new near-term business target for 2021 to deliver its first biologics Proof of Concept project for this new technology with a pharmaceutical or biotech partner.
As drug molecules become more complex so do the options to deliver them. This novel nanoparticle formation technology provides hope for improving the possibilities and probabilities of developing better medicines for patients and it expands Nanoform's reach into the growing biological market. The technology is in its early stages of development and a patent application has recently been filed with the US Patent Office for the technology. As of today, Nanoform has two non-GMP lines on the biologics side in addition to the eight CESS® small molecule nanoparticle technology non-GMP lines.
Prof. Edward Hæggstroem, Nanoform CEO: "Small is powerful, also in Bio! We are committed to improving patients' lives and supporting our pharmaceutical partners in developing the best medicines possible. Having established our CESS® small molecule nanoparticle technology to GMP, we continue to focus on delivering value for our partners and now we can extend our partnerships into supporting their biological programs. There are significant challenges in drug development in this space and we look forward to working closely with pharma and biotech partners to discover how we can add value to their programs, provide patient benefit and competitive product differentiation."
Prof. Niklas Sandler, Nanoform CTO: "We have for several years been developing this new exciting technology for Biologics, side by side with our CESS® small molecule nanoparticle technology, and it is with great excitement we now start to introduce it to our pharma partners. Potential applications could be in improving delivery route, uptake, and drug loading capacity in formulations and in enabling new drug combinations, tailoring of release profiles, and implementing lighter infrastructure for drug logistics."
Christian Jones, Nanoform CCO: "It is rare for any company to bring to market two groundbreaking platform technologies that could open up significant opportunities for the global pharma industry. I am delighted we are introducing this early development nanoparticle technology in the field of biologics as there are so many areas where nanoparticles can add value in this hugely promising but significantly challenging space. We look forward to exploring the potential advantages with our Pharma and Biotech partners in the hope we can together make better medicines for patients."
Telephone conference for analysts, investors, and media:
In connection with this release and Nanoform's Q3 report release (Nov 27th at 08.00 a.m. Helsinki time) Nanoform will hold a conference call and online presentation today Friday November 27th at 15.00 p.m. Helsinki time (14.00 p.m. Stockholm time). Nanoform will be represented by CEO Edward Hæggstroem, CFO Albert Hæggstroem, CTO Niklas Sandler, CCO Christian Jones and CBO Goncalo Andrade. The presentation will be delivered in English.
The presentation will be broadcast live as a webcast available at: https://financialhearings.com/event/13383
Teleconference dial-in numbers:
United Kingdom: +443333009263
United States: +18332498407
For further information, please contact:
Prof. Edward Hæggstroem, CEO
firstname.lastname@example.org / +358 29 370 0150
For investor relations queries, please contact:
Henri von Haartman, Director of Investor Relations
email@example.com / +46 7686 650 11
The information in the press release is information that Nanoform is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out above, on November 27th, 2020 at 07:50 a.m. Finnish time.
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 attrition in clinical trials and on enhancing drug molecules' formulation performance through its nanoforming services. Nanoform's capabilities span the small to large molecule development space and the company focuses 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
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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