May 9, 2023 in Press Releases
BIONXT SUCCESSFULLY COMPLETES PILOT STUDY FOR CONTRACT DEVELOPMENT CUSTOMER
VANCOUVER, BC – May 9, 2023 ‐ BioNxt Solutions Inc. (“BioNxt” or the “Company”) (CSE: BNXT / OTC: BNXTF / FSE: BXT) is pleased to announce that it has successfully completed a human pilot study for a leading European-based generic drug company. BioNxt successfully developed the oral dissolvable (“ODF”) narcotics product and managed the comparative bioavailability study.
“BioNxt is actively building a development pipeline of in-house and contract drug formulation programs,” said Hugh Rogers, CEO of BioNxt. “We are very pleased with the recent success of our contract development products. This presents an attractive opportunity for BioNxt to expand its capability from drug development to commercial manufacturing as our in-house and contract products advance towards commercialization.”
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.