BioNxt Solutions Advances Cladribine Studies and Announces Financing Initiative

BioNxt Solutions Inc., a bioscience company, reported progress in its Cladribine program, specifically moving towards human comparative bioavailability studies in Europe. The company is currently selecting from various contract research organizations to conform to EU medical regulations. BioNxt aims to release further details on these studies soon.

The company is developing an orally dissolvable film (ODF) Cladribine, targeting the multiple sclerosis (MS) market. Cladribine tablets are approved in over 75 countries and target MS and certain leukemias. With a global MS patient population of about 2.3 million, the MS drug market is projected to grow significantly.

BioNxt has also launched a private placement offer of up to 6 million common shares priced at $0.27 each, aiming to raise up to $1.62 million. These funds are slated for the development, research, and commercialization of its products.