VANCOUVER, BC / ACCESSWIRE / December 12, 2022 / BioNxt Solutions Inc. (“BioNxt” or the “Company“) (CSE:XPHY)(OTC:XPHYF)(FSE:4XT) is pleased to report that it has signed a non-binding term sheet (the “Term Sheet”) for the acquisition of certain intellectual property assets and rights related to a novel solid oral drug dosage form coating delivery technology (the “Technology”).
The Term Sheet sets out a number of terms (the “Terms”) for the acquisition that 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) a royalty on net sales derived from the sale of products developed, manufactured, used or sold utilizing the Technology is to be paid by BioNxt to the transferor (the “Royalty”); 3) reimbursement of costs incurred in connection with filing and prosecuting patents (plus overhead) are to be paid by BioNxt to the transferor; and 4) the Royalty may be reduced at any time provided that BioNxt pays the transferor a lump sum. The Terms are subject to the Parties’ entering into a definitive technology transfer agreement 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 & Director of BioNxt. “This novel coating system could significantly improve oral tablet and capsule drug delivery with more precise and predictable dosing. We see a broad range of potential applications from nutritional supplements and over the counter medications to prescription medications and psychedelic compounds.”
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.
About BioNxt Solutions Inc.
BioNxt Solutions Inc. is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; 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: info@bionxt.com
Phone: +1 780-818-6422
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, 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 update publicly or otherwise revise any forward-looking statements, except as may be required by law.
SOURCE: BioNxt Solutions Inc.
