BIONXT SOLUTIONS INC - BNXTF STOCK NEWS

BioNxt Solutions Inc. has signed a non-binding letter of intent with two European-based parties to acquire 100% of the intellectual property rights and co-develop an oral dissolvable film drug reformulation. The reformulation will incorporate an active pharmaceutical ingredient approved by the FDA and EMA for multiple indications, including the treatment of a major neurodegenerative disease. The consideration for the acquisition and co-development includes Euro 150,000 cash and 2,600,000 common shares based on milestone targets. Sales of the primary name-brand product based on a tablet form of the approved API grew organically by over 15% in 2022, reaching global sales exceeding Euro 850 million.

BioNxt Solutions Inc. (CSE:BNXT)(OTCQB:BNXTF)(FSE:BXT) announced a significant development by securing a contract with an international pharmaceutical company for the development and manufacturing of an oral dissolvable pharmaceutical product. The contract includes product development, technical sample manufacturing, and stability testing. CEO Hugh Rogers emphasized that this contract marks the second agreement within a year, highlighting the potential for growth in contract work. BioNxt's subsidiary, Vektor Pharma TF GmbH, is known for innovative drug delivery systems, which align with the growing pharmaceutical drug delivery market projected to reach $2,047 billion by 2030. The company is focused on regulatory approval and commercialization of medical products in Europe.

BioNxt Solutions has acquired advanced coating and cutting equipment to enhance its commercial manufacturing capacity at the Vektor Pharma facility in Baden-Württemberg, Germany. This CE certified equipment will enable the production of oral dissolvable (ODF) and transdermal (TDS) drug formulations, as well as ODF biosensor products. The investment aligns with BioNxt's strategy for 2023, focusing on commercialization and contract development opportunities. The fully automated machines will assist in creating pivotal trial materials and final products. BioNxt aims to capitalize on the growing global drug delivery market, projected to exceed USD 2,047 billion by 2030.

BioNxt Solutions Inc. provides an update on its enteric coating and drug delivery program for solid oral drug dosage forms. The Company’s contract research partner has produced prototype API coated tablets using recently acquired technology. BioNxt aims to evaluate this technology in human bioavailability pilot studies in North America while reviewing the patent status for potential opportunities.

The global oral solid dosage market was valued at US$ 524.6 billion in 2021 and is projected to exceed US$ 1.03 trillion by 2032, with a CAGR of 6.4% from 2022 to 2032. Additionally, BioNxt has engaged Apaton Finance GmbH for digital marketing services at a cost of Euro 50,000 from April 17 to April 28, 2023.

BioNxt Solutions Inc. (CSE:BNXT)(OTCQB:BNXTF) has successfully closed its non-brokered private placement, initially announced on March 10, 2023, without any additional tranches. The offering's securities will not be registered under the U.S. Securities Act, limiting their sale within the U.S.

Additionally, the company granted incentive stock options for 1,740,000 shares at $0.80, valid for three years for directors and two years for consultants. BioNxt, focused on innovative drug formulations and diagnostic tests, operates primarily in North America and Europe, especially Germany, and is working towards product commercialization in European markets.

BioNxt Solutions Inc. (CSE:BNXT)(OTCQB:BNXTF)(FSE:BXT) announced the closing of the first tranche of its private placement, issuing 4,050,000 units at $0.50 each, totaling $2,025,000 in gross proceeds. Each unit comprises one common share and a half share purchase warrant, with the full warrant exercisable at $0.80 for 24 months. The company paid $159,600 in finder’s fees and issued 319,200 share purchase warrants, exercisable at $0.75. Proceeds will support research, development, and general working capital. All issued securities are subject to a four-month regulatory hold period.