Deals this week: Nuformix, Fluidic Analytics, F2G Biotech

30th November 2018 (Last Updated August 12th, 2019 10:38)

Nuformix has expanded its agreement with Newsummit Biopharma (NSB) for the licensing and commercialisation of cancer drug NXP001.

Nuformix has expanded its agreement with Newsummit Biopharma (NSB) for the licensing and commercialisation of cancer drug NXP001.

Nuformix will perform additional pre-clinical study on the drug to further validate the potential of the product under the agreement.

The company has received a milestone payment of £500,000 ($641,132) for the first pre-clinical study in September 2018.

Total milestone payments made by NSB to Nuformix will increase from £2.5m ($3.2m) to £3m ($3.8m) as a result of the expanded agreement. An additional £500,000 ($641,132) will be paid when milestones for the second pre-clinical trial are achieved.

NSB holds exclusive rights to NXP001 for its commercialisation and distribution in China.

Nuformix and NSB are pharmaceutical companies based in the UK and China respectively.

Fluidic Analytics has raised $31m in a new financing round led by Draper Esprit.

Other investors including IQ Capital, Delin Ventures and the Business Growth Fund also participated in the round.

The proceeds will help in exploring potential clinical applications of the company’s technology. Products developed by the company will provide researchers with an insight into the mechanisms of conditions such as Alzheimer’s disease.

"F2G Biotech has received €24m ($27.2m) in funding from the EIB to support its research and development activities on anti-fungal drugs."

Fluidic Analytics is a biotechnology company, while Draper Esprit is a venture capital firm. Both companies are based in the UK.

F2G Biotech has received €24m ($27.2m) in funding from the European Investment Bank (EIB) to support its research and development activities on anti-fungal drugs.

The funding is being provided under the InnovFin Infectious Diseases Finance Facility (IDFF), which is supported by the EU's research and innovation programme Horizon 2020.

Proceeds will be used to further develop the company’s lead compound olorofim, which is being developed to treat invasive aspergillosis.

The funding will also assist in the development of novel drugs in the resistant fungi area.

F2G is a biotechnology company based in the UK.

Aimmune Therapeutics has received $98m in equity investment from Nestlé Health Science.

Aimmune issued 3.2 million new shares priced at $30.27 a share under a private placement to Nestle Health in November 2018.

US-based Aimmune Therapeutics is a biotechnology company, while Nestle Health is Swiss biopharmaceutical company.

WuXi Biologics has formed a partnership with ABL Bio for the development and manufacturing of up to eight antibody therapeutics.

The partnership also includes the biologics pipelines of ABL Bio and collaboration programmes between ABL Bio and I-Mab Biopharma.

It will enable ABL Bio to develop its antibody pipeline and establish its presence in the field of immuno-oncology and neurodegenerative disease treatment.

ABL Bio is a biotechnology company based in South Korea, while WuXi Biologics is a Chinese pharmaceutical preparation manufacturing firm.