VANCOUVER, BC / ACCESSWIRE / December 12, 2022 / BioNxt Solutions Inc. (“BioNxt” or “Society“) (CSE:XPHY)(OTC:XPHYF)(FSE:4XT) is pleased to announce that it has signed a non-binding term sheet (“Term Sheet”) to acquire certain intellectual property assets and rights related to new technology to deliver coatings for solid oral dosage form of the drug (“Technology”).
The Terms set forth a number of conditions (“Terms”) for the acquisition which include, but are not limited to: 1) the transfer and assignment of all right, title and interest in the Technology from the transferor to BioNxt; 2) royalties from net sales resulting from the sale of products developed, manufactured, used or sold using the Technology, BioNxt should pay to the transferor (“Tentijere”); 3) reimbursement of expenses incurred in connection with the application and initiation of patents (plus overhead costs) to the transferor BioNxt; and 4) the royalty may be reduced at any time provided BioNxt pays the transferor a lump sum. The terms are subject to the conclusion of a final technology transfer agreement between the parties, and full details will be provided upon signing.
“BioNxt is extremely pleased to expand our technology portfolio with an additional drug delivery platform,” said Hugh Rogers, CEO and director of BioNxt. “This new coating system could significantly improve oral drug delivery in tablets and capsules with more precise and predictable dosing. We see a wide range of potential applications from dietary supplements and over-the-counter drugs to prescription drugs and psychedelic compounds.”
The global pharmaceutical oral solid dosage market was valued at US$ 524.6 billion in 2021 and is expected to exceed a value of US$ 1.03 trillion by the end of 2032, rapidly expanding at a CAGR of 6.4% during the period research 2022-2032. Fact.MR research and consulting. Revenue from sales of oral solid pharmaceuticals accounted for 23.8% share of the global pharmaceutical drug market in 2021.
About BioNxt Solutions Inc.
BioNxt Solutions Inc. is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening assays, and novel active pharmaceutical manufacturing and evaluation, including: precision transdermal and orally soluble drug formulations; rapid, low-cost screening tests for infectious diseases and oral health; and standardization and clinical evaluation of emerging active pharmaceutical ingredients for neurological applications. The company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
BioNxt Solutions Inc.
Hugh Rogers, CEO and Director
Email: [email protected]
Phone: +1 780-818-6422
Cautionary Statement Regarding Forward-Looking Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information may be identified by the use of words such as “expects”, “intends”, “expects”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or the results “may”, “may”, “should”, “would”, “can” or “will” be undertaken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, except as required by law.
SOURCE: BioNxt Solutions Inc.
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