N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company developing Nuvec®, a novel delivery system for vaccines and cancer treatments, announces its unaudited interim results for the six months ended 30 June 2019.
· Placing of 10,500,000 ordinary shares to raise approximately £1.0m net of expenses
· Commissioned repeat of its successful in vivo study using Ovalbumin (“OVA) pDNA at University of Queensland (“UQ”) to try and identify causes of inconsistent results seen working with University of Adelaide and other CROs
· Commenced search for other asset opportunities to add to the Company portfolio
· Appointment of Dr John Chiplin as non-executive Chairman
· Appointment of Dr Chris Britten as non-executive Director
· Cash balance at period end of approximately £1.2 million
Post period end:
· Received successful results for UQ OVA pDNA study, confirming the ability of Nuvec® to increase antibody responses using multiple injections at certain doses
· Commenced work to improve dispersity of Nuvec® formulations loaded with pDNA and initiate further in vivo work to test improved formulation
Nigel Theobald, Chief Executive Officer of N4 Pharma Plc, commented:
“In this period, we have confirmed that Nuvec® works for both DNA and mRNA delivery, having produced an antibody response for both. We have also made progress in understanding how Nuvec® behaves once loaded with DNA and mRNA. We have put in place a clear plan to investigate how we can improve the dispersion of Nuvec® once loaded with DNA. We will then test this improvement in both in vitro and in vivo studies and conduct an oncology efficacy model.
The development and improvement of our Nuvec® particle once loaded with DNA and mRNA is an essential step on its path towards use in clinical trials and usual for the evolution of any delivery system. Nuvec® still shows great potential as a delivery system for nucleic acids and we remain excited and confident about its future.”