REACH

15 February 2023

Nuformix plc

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

NXP002 Update

Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, is pleased to announce the following update regarding the Company's NXP002 programme, a proprietary new form of tranilast, being developed as a novel inhaled treatment for Idiopathic Pulmonary Fibrosis ("IPF").

As previously announced, the Company has initiated studies in 3D human IPF lung tissue using a disease and species relevant model, and is working with its partner, Fibrofind, focusing on NXP002 in combination with current standards of care.  Suitable human disease tissue, which is highly limited in supply, has now been acquired allowing the practical elements of the study to commence, with results and further updates to be announced in due course.

NXP002 combinations have already shown promise in human diseased IPF tissue, showing a pleasing synergistic efficacy effect with low doses of standards-of-care, resulting in the Group filing a new combination patent application in 2022.

Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "We've had to wait a little longer than expected to acquire suitable tissue, but I'm delighted that the main element of this key study, further evaluating NXP002 combination therapies is now underway and I look forward to sharing the results when they are available."

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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 US$5bn by 2025. Sales of standard-of-care therapies OFEV and Esbriet achieved US$2.58bn and US$1.04bn respectively in 2021.