N4 Pharma PLC (LON:N4P) have told the market that their loss has narrowed for 2019, as the firm delivered their final results on Tuesday.
The firm added that it is working to improve Nuvec dispersion to address in-vivo inconsistencies.
The firm said “The data we have generated so far is encouraging and shows that Nuvec® has the potential to be an effective delivery system for nucleic acids.”
Nuvec is N4’s company vaccine and cancer treatment delivery system. N4 has repeated a pre-clinical study of Nuvec due to inconsistencies identified in third-party pre-clinical studies.
Across 2019, N4 reported a pretax loss of £948,725, from a loss of £1.4 million recorded a year ago. Notably, no revenue was recorded for the period, and a government grant off £72,832 received the year prior did not get enforced again.
The firm did raise £1.1 million of new funds through a share placing, which results in the firm having cash of £965,752 at the end of the year.
Nigel Theobald, Chief Executive Officer of N4 Pharma Plc, commented:
“The Directors believe we have made considerable progress in understanding how Nuvec® works in the last 12 months which will put us in a stronger position for potential collaboration discussions as we continue to present our data to potential licensing partners. Having demonstrated that Nuvec® can load and transfect a range of DNA and mRNA antigens in vitro and also produce an in vivo antibody response with a good safety profile, we have recently worked on improving the dispersion of Nuvec® with a view to addressing some of the inconsistencies seen in previous in vivo work.
“Our next focus is to assess the improved dispersion with further in vitro and in vivo testing of Nuvec® using OVA plasmid DNA whilst, in parallel, working with Nanomerics on producing stable Nuvec® formulations.
“We believe the work we have done in the last 12 months, together with our ongoing studies, puts our Nuvec® delivery system in a stronger position than it was when we first announced our positive in vivo antibody results and we remain excited about the potential for Nuvec® to become a credible delivery system in the field of cancer therapeutics and vaccines.”
N4 reach deal with Nanomerics Ltd
Last week, the firm told the market that they have signed a research collaboration deal with Nanomerics Ltd.
N4 said that the deal would be spanning 14 months and this tie up will allow the testing of two candidate formulations using its Nuvec delivery systems.
The firm said that the partnership will be split into two phases, each lasting seven months.
In the first phase, N4 said that the companies will develop and test the thirty day stability of four different Nuvec formulations, using both a plasmid DNA and a small interfering RNA.
After this, the second phase will be underway where the testing of efficacy of the plasmid DNA will take place in an vivo antibody generation model.
Shares in N4 Pharma trade at 3p (-3.11%). 25/2/20 12:40BST.