Apr 24, 2023 in Press Releases

BIONXT SECURES CONTRACT TO DEVELOP AND MANUFACTURE ODF PRODUCT FOR INTERNATIONAL PHARMACEUTICAL COMPANY

VANCOUVER, BC – April 24, 2023 ‐ BioNxt Solutions Inc. (“BioNxt” or the “Company”) (CSE: BNXT / OTC: BNXTF / FSE: BXT) is pleased to announce that it has signed and received payment for a development and manufacturing contract (the “Contract”) with an international pharmaceutical company (the “Client”). The Contract is focused on the development of an oral dissolvable (“ODF”) pharmaceutical product based on BioNxt’s ODF platform technology. The Contract includes provisions for product development, contract manufacturing for technical samples and product stability testing.

“On April 17, 2023, BioNxt announced the purchase of state-of-the-art coating and cutting equipment to build out commercial manufacturing capacity at its German facility,” noted Hugh Rogers, CEO of BioNxt. “Commercial manufacturing capability is designed to complement the Company’s in-house drug development programs and provide additional high-value services for third party clients as they prepare for commercialization. Today’s Contract is the second such agreement in the past 12 months. In general, we see this type of contract work as a significant business opportunity with high growth potential.”

BioNxt’s wholly owned subsidiary, Vektor Pharma TF GmbH, is a German drug development and manufacturing company with narcotics licences located in the district of Biberach, Baden-Württemberg, Germany. For over a decade, the company and its team have been leaders in the design, testing and manufacture of innovative, non-invasive drug delivery systems, particularly transdermal patches and sub-lingual strips for the delivery of active pharmaceutical ingredients for the treatment of pain and neurological conditions. According to Precedence Research, the global pharmaceutical drug delivery market size was valued at USD 1,525 billion in 2022 and expected to surpass approximately USD 2,047 billion by 2030.