10 August 2022

Nuformix plc

("Nuformix" or the "Company" or the "Group")

NXP002 Successful Completion of Tolerability Studies

Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, is pleased to announce that NXP002, a new form of tranilast and a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis ("IPF"), has successfully completed pre-clinical tolerability studies for a new NXP002 formulation.

As announced on 27 June 2022, the Company initiated further pre-clinical studies as it continues to generate a robust data package to support the progression of NXP002. Tolerability has been demonstrated across a new range of doses, including higher doses than previously given, delivered using an alternative method designed to ensure that consistent and controlled inhalation exposure is achieved.

Work has now commenced to explore how the new doses studied can best optimise efficacy and confirm NXP002's positive pharmacological profile towards the treatment of lung fibrosis and inflammation via inhalation, before progression to a final step to assess duration of action. Results will continue to be generated throughout H2 2022 and further updates will be announced in due course.

Dr Daniel Gooding, Executive Director of Nuformix, commented: "The results from this first stage are exactly what we had hoped for and bode well for the inhaled tolerability of NXP002, even at high doses. We are pleased that we can now progress to robustly investigate NXP002's efficacy as we continue to build a pre-clinical data package to support the further progression of the Company's lead programme.  I look forward to providing further updates to the market when appropriate."

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About Nuformix

Nuformix is a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing. The Company aims to use its expertise in discovering, developing and patenting novel drug forms, with improved physical properties, to develop new products in new indications that are, importantly, differentiated from the original (by way of dosage, delivery route or presentation), thus creating new and attractive commercial opportunities. Nuformix has a pipeline of preclinical assets with potential for significant value and early licensing opportunities.

About Fibrosis

Fibrotic disease is typically associated with high patient mortality, increasing prevalence and a lack of safe and effective treatments. Whilst fibrosis treatments are in their infancy the emerging lung fibrosis market demonstrates their blockbuster potential. Idiopathic Pulmonary Fibrosis is classified as a rare disease and presents a global commercial market that is forecast to grow to $5bn by 2025. Sales of standard-of-care therapies OFEV and Esbriet achieved $2.58bn and $1.04bn respectively in 2021.