Nuformix appoints new Non-Executive Director Dr Julian Gilbert
Julian has more than 30 years of commercial and technical experience in the pharmaceutical industry gained at a number of companies including Chiroscience Plc, Mundipharma International Limited, British Technology Group and the former Smith Kline & French.
Most recently, Julian was co-founder and CEO of Acacia Pharma Group plc (Acacia), raising around £100m in private and public funding and leading its flotation on Euronext in 2018.
Julian resigned from Acacia back in July 2019. Prior to this, he was co-founder and Commercial Director of Arakis Limited which was sold to Sosei in 2005 for £107m. He has since worked in business development since 1992, leading multiple development projects.
Julian, who will be appointed as a member of the Nomination & Audit Committees, has a degree in pharmacy and a PhD in pharmaceutics, both from the University of Nottingham.
The Board also highlighted to investors that it will also be undertaking a search for an additional independent Non-Executive Director with recent and relevant financial experience.
Executive Chairman, Dr Chris Blackwell, said Julian’s appointment will be “extremely valuable” as Nuformix now focuses on business development and licensing opportunities.
Commenting on his appointment, Dr Julian Gilbert said, "I’m delighted to be joining the Board of Nuformix, and look forward to supporting the Company achieve key strategic objectives."
Shares in Nuformix have traded within a tight range of 2.7p and 3.20p over the past two weeks to open 0.68% lower this morning at 2.78p following the announcement.
More on Nuformix
Nuformix is a pharmaceutical group which uses cocrystal technology to unlock the therapeutic potential of approved drugs with lead programmes in oncology supportive care and fibrosis.
The company announced its plans to raise around £0.65m at a price of 2.8p a share back in October 2020 in an effort to develop several of its assets to treat the effects of COVID-19.
The proceeds will be used to maximise opportunities for the development pipeline, in particular for its lead asset, NXP002, which it believes could be used to treat hyperinflammation, a side effect seen in some patients suffering with severe COVID-19.
It also believes NXP002 could be used in combination with existing marketed products in the treatment of idiopathic Pulmonary Fibrosis (“IPF”) a serious lung disease. In doing so, the group would be targeting the global IPF market which is valued at around US$2bn a year.
The Board has prioritised this preclinical work alongside other IPF therapies because ‘it is likely that the adoption of new therapies for IPF will be on top of current standard of care.’
The Company said that it plans to exploit the potential for licensing NXP002 across global markets, and in particular to continue to pursue licensing opportunities in the Asian market. It also added that it wants to 'exploit value’ from NXP001 outside the field of oncology.
‘The Board is positive about the opportunities for the Group, in particular, for the development of certain assets for the treatment of Covid-19. Support for these efforts will require additional business development resources,’ the Company outlined to investors last month.
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