BioNxt Solutions has signed a definitive technology transfer and patent assignment agreement to acquire certain technology and intellectual property assets and rights related to a novel solid oral drug dosage form coating and delivery technology.
"With established transdermal and oral dissolvable drug delivery platforms already in the BioNxt portfolio, we see this acquisition of a novel oral drug coating technology as a significant step in expanding and solidifying our drug delivery expertise," said Hugh Rogers, CEO & Director of BioNxt. "This coating system could significantly improve oral tablet and oral capsule drug delivery with more precise drug release and predictable dosing. The potential applications for this innovative platform technology are extensive and we look forward to exploring product development opportunities ranging from nutritional supplements and over the counter medications to prescription medications and psychedelic compounds."
Consideration for the transfer and assignments set out in the agreement include a net sales royalty of 6% which may be reduced to 3% at any time at BioNxt's option upon written notice to the seller and payment to the seller of a lump sum amount equal to two million five hundred thousand US dollars (USD$2,500,000). BioNxt will reimburse the seller for all documented costs incurred in filing and prosecuting related patents (plus 25%).
The potential applications for this innovative platform technology are extensive and we look forward to exploring product development opportunities
BioNxt is in the early planning stages for a comparative human bioavailability pilot study to assess potential applications for the technology. The company plans to carry out the study in North America and will provide an update in due course.
The global oral solid dosage pharmaceutical market was valued at US$524.6 billion in 2021 and is expected to top US$1.03 trillion in value by the end of 2032, expanding rapidly at a CAGR of 6.4% over the 2022-2032 study period according to Fact.MR research and consulting. Revenue from the sales of oral solid dosage pharmaceuticals accounted for 23.8% share of the global pharmaceutical drug delivery market in 2021.
BioNxt Solutions is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation.
