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Nuevolution provides half year review of performance.

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NORDIC BUSINESS REPORT-December 17, 2018-Nuevolution provides half year review of performance

(C)2018 M2 COMMUNICATIONS http://www.m2.com

Nuevolution AB (STO:NUE), a small molecule drug discovery biotechnology company, announced on Friday that its board of directors and management have performed the half-year review of the company's portfolio of development programmes and associated business and patent strategy.

Under this review, positive progress was observed in all existing partnerships and across own programmes.

Reportedly, there is a strong commitment to continue investments in realising success from existing partnerships and new business opportunities to remain focused on partnerships with true long -term value. Also, there is increased monitoring and potential legal enforcement actions to be taken of potential infringement of the company's 274 granted technology platform patents

The board concluded that Nuevolution's partnered projects with Almirall, Amgen and Janssen all continue to progress positively and as planned.

Also, the company's broad portfolio of own programmes has matured very well during the last six months, with two new attractive programmes (RIPK1 and TYK2) being rapidly progressed. The IL-17A programme recently presented positive effect in an important animal model for psoriasis, while the company's BET BD1 programme is on track towards programme candidate nomination shortly.

In addition, the board reiterated the company's commitment and its business focus on realising success from its existing partnerships and to diligently pursue new partnerships, but maintain focus on partnerships that offer true long-term value to the company and its shareholders.

Currently, Nuevolution operates a large and most drug-like research platform (Chemetics) for discovery of tablet-based (small molecules) medicines. This platform also includes a completely revised process for optimisation of screening hit molecules to development programme...

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