Noxopharm (ASX:NOX) says a series of companies are evaluating its Sofra platform after signing several material transfer agreements (MTAs).
An MTA is a contract governing the transfer of equipment between two parties. It sets out the terms of the agreements, including what exactly is being shared and what the transferred assets will be used for.
Noxopharm said the companies are testing a number of novel and proprietary assets from the Sofra platform, which includes, among others, the mRNA vaccine activator SOF-VAC and the lupus drug SOF-SKN.
Dr Gisela Mautner, CEO of Noxopharm, said: “Signing these MTAs is an important milestone for us and is an integral part of our business strategy. These agreements represent external validation and demonstrate that companies are interested in taking a closer look at our Sofra technology to understand its commercial potential.
“These opportunities are the result of a tremendous effort by the entire Noxopharm team and our partners at the Hudson Institute of Medical Research over the past 18 months, with presentations at numerous international conferences and a large number of follow-up meetings.
“It should be noted that an MTA does not necessarily imply a future trade agreement, but it is essential as a basis for any potential future negotiations. Given that each company is moving at its own pace through the evaluation process and the results are still unknown, we are unable to provide a timeline for next steps.
“In addition to our current material transfer agreements, we continue to explore new business opportunities as external parties become increasingly aware of our valuable intellectual property and the exciting potential it holds.”