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N4 Pharma's share price is rallying on Thursday after the company unveiled Material Transfer Agreements (MTAs) with two major companies.
The agreements will assess how well Nuvec can bind and be optimised for transfection with two different proprietary plasmids.
The first MTA is with a “major international” company working in the gene therapy space, while the second is with a pharmaceutical company developing its own proprietary vaccine for Covid-19 using a DNA plasmid.
“These MTAs represent a significant first step towards more formal collaborations,” N4 Pharma said.
The company said it is continuing dialogue with other parties to enter more MTAs.
N4 also provided an update on its in vivo studies, saying that it has made good progress developing and testing a monodisperse formulation of Nuvec.
The company is also reviewing the scope of work at Evotec to ensure that the different arms to the in vivo studies undertaken there are complementary. However, this will push any Evotec in vivo work results into the third quarter of this year.
“Whilst there can be no guarantee of either agreement resulting in a commercial collaboration, it marks a major step forward as we apply third party materials to Nuvec. Furthermore, it validates all the hard work that has been done in optimising Nuvec that major players in their fields are prepared to invest their time and resource to see how Nuvec may be applied to their technologies and IP,” said Nigel Theobald, CEO of the N4 Pharma.
“In addition, the early data from our in vivo work with the optimised, monodispersed Nuvec is indicating that we have significantly improved its functionality and efficacy over the agglomerated material used in earlier studies,” added Theobald.
N4 Pharma's share price has gained 10% so far today, sitting at 8.69p.
N4 Pharma shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are N4 Pharma shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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