Nanoform, an innovative nanoparticle medicine enabling company, signed an agreement to manufacture GMP nanoformed material for an international company headquartered in Europe. This follows the Letter of Intent (LOI), signed between the parties in June 2021, to nanoform and develop, manufacture, and commercialize an improved version of a currently marketed drug.
 
The GMP agreement is for early clinical development. The final contract terms for commercialization will be negotiated as the project progresses.
 
In the third quarter, Nanoform signed six new customer non-GMP projects, bringing the total to 14 projects so far this year, achieving its near-term business for 2021.
 
The value of the projects according to Nanoforms guided business model is €0.5m to €10m per GMP project and €0.05m to €0.5m per non-GMP project.
 
Professor Edward Hæggström, CEO of Nanoform, said, “Following our clinical results earlier this year, Nanoform now enters its next growth phase; manufacture of nanoformed clinical grade API’s (Active Pharmaceutical Ingredients) for our customers and partners. Our manufacturing expansion is on track and in the coming years we’ll have additional GMP lines in place, catering to our customers’ growing needs for nanoformed API’s.”