A quarter filled with good news
The most relevant event of the quarter was the exclusivity and evaluation agreement signed with Novo Nordisk for the evaluation of Nanexa's PharmaShell technology with Novo Nordisk's products. The deal was valued at SEK 46.1m and was structured in two payments, an upfront of SEK 41.7m, and the rest paid later for the work conducted during the evaluation period. In connection with the agreement, Nanexa did a share issue to Novo Nordisk amounting approximately SEK 17.2m, with Novo Nordisk also guaranteeing to subscribe to any future rights issue conducted prior to 31 Dec '23, up to a max. of USD 2m. Other events during the quarter include the initiation of the Ph 1 clinical trial for NEX-20 (NEX-20-01 study), where the company is currently evaluating safety, tolerability and PK profile in healthy volunteers. Moreover, Nanexa also signed two more evaluation agreements, one of them with a pharma company for the evaluation of PharmaShell for a long-acting injectable intravitreal (eye) drug. Finally, the company also confirmed that the patent infringement lawsuit filed against VitriVax in the US has been resolved with VitriVax guaranteeing that it is not infringing and will not infringe Nanexa's patents. No updates were provided for the NEX-18 project.
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