N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company which improves the delivery of existing drugs and novel vaccines and therapeutics, is pleased to announce its audited final results for the year ended 31 December 2017.
- Completed the reverse takeover of N4 Pharma Limited (“RTO”)
- Successful placing to raise £1.5m (the “Placing”) and re-admission to AIM
- Change of name to N4 Pharma Plc (formerly known as Onzima Ventures Plc)
- Divested investment portfolio to focus solely on reformulation of generic drugs and vaccines
- Filing of sildenafil PCT patent application
- Filing of additional generic product patent opportunities
- Total of £446,429 raised via warrant exercises in 2017 post-RTO
- Cash balance at year end of approximately £1.3 million
Post Year End Highlights:
- Commencement of in-vivo research programme for Nuvec®
- Grant collaboration with MedImmune UK to evaluate Nuvec® technology
- Appointment of Andrew Leishman as Head of Nuvec® development
- Commencement of sildenafil human clinical trial
- Total of £784,404 raised via warrant exercises since 1 January 2018
Nigel Theobald, CEO of N4 Pharma, commented: “The Board remains optimistic about the future of the Company and its prospects. We have reached a key milestone with the commencement of the pilot human trial for our sildenafil reformulation which, if the results are positive, will greatly advance the value of the data we have obtained, and furthermore provide a clearer path towards commercialisation for our reformulation. We have already announced one collaboration for Nuvec® and are looking to enter into further agreements with other companies in 2018.
Whilst our immediate focus is on those products with the opportunity for near term commercialisation, namely sildenafil and Nuvec®, we remain excited about the Company’s multiple potential pipeline of products and collaborations. We will provide regular updates as these opportunities progress.”
A copy of this announcement and the Annual Report and Accounts are available on the Company’s website, www.n4pharma.com. The Report and Accounts together with the notice of AGM will be sent to shareholders on 27 April 2018.