Nanoform sets a new near-term business target for 2021

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Jan 04, 2021, 01:21 ET

HELSINKI, Jan. 4, 2021 /PRNewswire/ -- Nanoform Finland Plc ("Nanoform"), an innovative nanoparticle medicine enabling company, today announced a new near-term business target.

In 2021 Nanoform targets "at least 12 new non-GMP¹ (pre-clinical) customer projects and at least one new GMP (clinical) customer project". The company reported 2 non-GMP customer projects in 2019 and 7 non-GMP customer projects in Q1-Q3/2020. Nanoform's Q4/2020 report is due February 26^th, 2021.

Nanoform also reiterated its previously announced "First Biologics PoC² project in 2021", as well as its 2025 mid-term business targets of:

to nanoform at least 50 new APIs³ annually
to have in place 25 operating production lines of which 5 to 10 are expected to be GMP production lines
over 90 percent gross margin
approximately 200 employees
to be cash flow positive

In December 2020 Nanoform achieved all its near-term business targets for 2020 and 2021 announced in relation to the IPO (June 4^th, 2020).

For further information, please contact:

Prof. Edward Hæggström, CEO

[email protected]

+358 29 370 0150

For investor relations queries, please contact:

Henri von Haartman, Director of Investor Relations

[email protected]

+46 7686 650 11

¹Good Manufacturing Practice

²Proof of Concept

³ Active Pharmaceutical Ingredient

The information in the press release is information that Nanoform is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out above, on January 4^th, 2021 at 08:10 a.m. Finnish time.

About Nanoform

Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to provide hope for patients in developing new and improved medicines utilizing Nanoform's platform technologies. The Company focuses on reducing attrition in clinical trials and on enhancing drug molecules' formulation performance through its nanoforming services. Nanoform's capabilities span the small to large molecule development space and the company focuses on solving key issues in drug solubility and bioavailability and on enabling novel drug delivery applications. Nanoform's shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 562 1806. For more information please visit http://www.nanoform.com

Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements regarding Nanoform's strategy, business plans and focus. The words may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, any related to Nanoform's business, operations, clinical trials, supply chain, strategy, goals and anticipated timelines, competition from other companies, and other risks specified in Nanoform's prospectus published (on May 22, 2020) in connection with Nanoform's initial public offering (the "Prospectus") under "Risk Factors" and in our other filings or documents furnished to the Finnish Financial Supervisory Authority in connection with the Prospectus. Nanoform cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nanoform disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Nanoform's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.

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SOURCE Nanoform