Nuformix inks global licensing deal with Oxilio for NXP001
British drug developer Nuformix (LSE: NFX) leapt 19.3% this morning, after it announced the signing of an exclusive global licensing agreement with fellow UK-based Oxilio, a privately held pharmaceutical development company, for NXP001 (a proprietary new form of aprepitant) for oncology indications.
Under the terms of the licensing agreement, Oxilio has obtained an exclusive licence to research, develop and commercialize NXP001 globally for oncology indications. Nuformix is eligible to receive an undisclosed upfront payment, development milestone payments and a royalty on net sales, capped at £2 million ($2.8 million) per annum.
* On September 23, 2020, Nuformix granted an exclusive option to Oxilio to license NXP001 globally for oncology indications. This triggered an undisclosed upfront payment.
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