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BioNxt Solutions Inc. has reported progress on its commercialization plan for a transdermal Rotigotine patch aimed at treating Parkinson's disease. Following promising in-vitro/ex-vivo results announced in October 2022, the company is set to initiate a human clinical pilot study in Q2 2023. This study aims to compare BioNxt's formulation with an established brand's product, focusing on bioavailability and skin tolerance. Concurrently, BioNxt is enhancing its manufacturing capabilities in Germany to meet regulatory standards. The global market for Rotigotine patches was valued at approximately $518 million in 2021, with projections of surpassing $766 million by 2030.
BioNxt Solutions Inc. (CSE:XPHY)(OTC:XPHYF) announced a non-binding term sheet to acquire intellectual property for a novel solid oral drug dosage coating technology. Key terms include the transfer of technology rights, a royalty on net sales from products using the technology, and reimbursement for patent-related costs. The acquisition aims to enhance BioNxt's technology portfolio, improving drug delivery systems across various applications. The global oral solid dosage market, valued at US$ 524.6 billion in 2021, is projected to exceed US$ 1.03 trillion by 2032.
BioNxt Solutions Inc. has successfully closed a non-brokered private placement of convertible debentures, raising $2,808,000. The debentures bear an 8% annual interest rate and are convertible into units at $0.52 per unit, each consisting of one share and a half warrant. The offering included a cash fee of $224,640 and issuance of 432,000 finder warrants. Proceeds will support general working capital. The company focuses on innovative drug formulations and diagnostics in Europe.
BioNxt Solutions Inc. has announced an increase in its non-brokered private placement of debentures from $2,600,000 to $2,808,000. The debentures are convertible into units consisting of one common share and half a warrant at $0.52 per unit for two years. Up to 432,000 compensation warrants will be issued to finders, exercisable at the same price. The offerings will not be registered under the U.S. Securities Act. BioNxt focuses on next-generation drug formulations and is pursuing regulatory approvals in Europe.
BioNxt Solutions Inc. (CSE:BNXT)(OTCQB:XPHYF)(FSE:4XT) announced a non-brokered private placement of debenture units, seeking up to $2.6 million. Each unit, priced at $1,000, converts into 1,923 common shares and half a warrant. Debentures carry an 8.0% interest per annum and mature in two years. The offering is subject to regulatory approvals and will have a four-month hold period. BioNxt is focusing on drug formulations and diagnostics, with operations primarily in Germany. The company aims for regulatory approvals for medical products in European markets.
XPhyto Therapeutics Corp. will officially change its name to BioNxt Solutions Inc. and its trading symbol from XPHY to BNXT effective November 14, 2022. The company's focus includes next-generation drug formulations, diagnostic tests, and active pharmaceutical ingredient investments, with operational efforts concentrated in Europe. The share capital will remain unchanged. XPhyto aims for regulatory approval and commercialization of medical products in the European market.
XPhyto Therapeutics Corp. (CSE:XPHY, OTCQB:XPHYF) announced positive results from its human skin cadaver study of the Rotigotine transdermal patch, showing absorption profiles similar to a leading brand. The study confirms that XPhyto's new formulation is ready for clinical evaluation, marking a significant step toward commercialization. Rotigotine, used for treating Parkinson's disease, reported a market value of $518 million in 2021, expected to rise to $766 million by 2030. XPhyto's transdermal technology represents a scalable opportunity within the $20 billion global patch market.
XPhyto Therapeutics Corp. has completed the optimization of its Rotigotine transdermal patch formulation intended for Parkinson's disease treatment. The final comparative study using human skin cadaver samples has also been concluded, with results expected shortly. The global market for Rotigotine patches is projected to surpass US$766 million by 2030, with significant growth opportunities within the transdermal skin patch market, valued at US$20 billion by 2028. XPhyto aims to leverage its proprietary technology for additional pharmaceutical developments.
XPhyto Therapeutics Corp. has signed a non-binding Letter of Intent (LOI) with a US-based thin film manufacturing firm to explore business synergies. This collaboration aims to assess manufacturing capabilities for XPhyto’s oral dissolvable biosensor products. The US firm boasts a FDA-certified facility and over 50 years of experience. XPhyto's biosensor product line targets oral health issues and shows significant market potential, estimating to reach US $43.6 billion by 2028. The LOI outlines short-term milestones including manufacturing compatibility and potential product collaborations.
XPhyto Therapeutics Corp. has filed a patent application for a library of novel psychedelic compounds aimed at treating various neuropsychiatric and neurodegenerative disorders, including depression and addiction. The global psychedelic drugs market is projected to grow at a CAGR of 13.3%, reaching approximately USD 6.4 billion by 2029. XPhyto is engaged in exclusive R&D partnerships focused on drug synthesis and delivery of psychedelic compounds, retaining 100% of the intellectual property. Further updates are anticipated as the company progresses with regulatory and commercialization efforts.
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