Drug developer files patents for cancer treatment which ‘outperforms’ AstraZeneca offering
Drug development company Nuformix has reformulated and improved one of AstraZeneca’s top cancer drugs, piquing investor interest today.
Shares in the London-listed firm jumped nearly a quarter to 35p per share by early afternoon on Tuesday.
Nuformix, which focuses on fibrosis and cancer drug repurposing, announced that the drug, known as Olaparib, had “outperformed” AstraZeneca’s version of the treatment in terms of bioavailability – how well the drug is absorbed by the human body.
The company has filed two patent applications for its new and improved version of Olaparib, which targets ovarian and fallopian tube cancer.
Nuformix director, Dr Dan Gooding, said that the revelation opens the opportunity to partner with other companies on its supply – should it be successfully patented – as the company looks to scale up production.
The cancer treatment Olaparib, marketed under the name Lynparza by AstraZeneca, achieved $2.7bn (£2.2bn) worth of sales in 2021, with analysts forecasting annual sales to climb to $9.7bn (£8bn) by 2028.
“I’m delighted with the results of the head-to-head dissolution studies, which exceeded my expectations,” said Gooding, adding that the test signalled “a step-change in dissolution performance, yet they appear to lack any of the common drawbacks that can hamper development of cocrystal-based products, which is surprising.”
City A.M. has contacted AstraZeneca for comment.