Inside information made public: Nanoform Wins R&D Grant of EUR 4.3M for Research Into Nanoparticle Enabled Formulations for Next Generation Medicines
Inside information
Nanoform Finland Plc
February 15, 2024
12:45 Finnish time / 11:45 Swedish time
Inside information made public:
Nanoform Wins R&D Grant of EUR 4.3M for Research Into Nanoparticle Enabled Formulations for Next Generation Medicines
THIS PRESS RELEASE CONTAINS INFORMATION THAT NANOFORM IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SENT FOR PUBLICATION THROUGH THE AGENCY OF THE CONTACT PERSONS SET OUT BELOW, ON FEBRUARY 15, 2024, AT 12:45 FINNISH TIME / 11:45 SWEDISH TIME.
Helsinki, Finland – February 15, 2024 – Nanoform Finland Plc (“Nanoform”), the medicine performance-enhancing company, today announced that it has won a grant of up to 4.3 million euros from Business Finland, the Finnish government organization for innovation funding and trade. The grant represents 50% of the costs associated with Nanoform’s research and development project for nanoparticle-enabled formulation platforms for oral, inhaled, long-acting injectable, and high-concentration subcutaneous injectable drug delivery technologies for next generation medicines. The work is expected to take place during 2024 and 2025.
Nanoform has established a unique capability to consistently manufacture particles at less than 100 nanometers, and has developed a deep understanding of nanoparticle interactions, and their performance in pharmaceutical formulations. This grant gives an opportunity to generate deep knowledge about nanoparticle behavior in formulation- and pharmaceutical sciences and to create new intellectual property.
“Combining our unique manufacturing capabilities with a deep and growing knowledge of nanoparticles and their impact on formulations means that we can leverage APIs in ways not possible with other drug delivery techniques” said Dr. Edward Haeggström, Chief Executive Officer of Nanoform. “Encouraged by the outcome of our recent relative bioavailability study of a novel nanoformulation of enzalutamide and Xtandi®, I’m pleased by Business Finland’s decision to join us in exploring what small can do for pharmaceutical development more broadly.”
For further information, please contact:
Christian Jones, Chief Commercial Officer
+44 7804 474 771
For investor relations queries, please contact:
Henri von Haartman, Director of Investor Relations
+46 7686 650 11
About Nanoform
Nanoform is the medicine performance-enhancing company that leverages best-in-class innovative nanoparticle engineering technologies, expert formulation, and scalable GMP API manufacturing to enable superior medicines for patients. The company focuses on reducing clinical attrition and on enhancing drug molecules’ performance through its nanoforming technologies and formulation services, from pre-formulation to commercial scale. Nanoform will help improve bioavailability and drug delivery profiles, drive differentiation, patient adherence and extend the lifecycle potential of products. Nanoform’s shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 744 1900. For more information, please visit www.nanoform.com.
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