Noxopharm (ASX:NOX) says a range of companies are evaluating its Sofra platform after signing several Material Transfer Agreements (MTAs).
An MTA is a contract governing the transfer of materials between two parties. It defines the terms of the arrangements, 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 contains, among others, the SOF-VAC mRNA vaccine enhancer and SOF-SKN lupus medication.
Noxopharm CEO Dr Gisela Mautner said, "Signing these MTAs is a significant milestone for us and an integral part of our corporate strategy.The agreements represent external validation and demonstrate that companies are interested in taking a closer look at our Sofra technology in order to understand its commercial potential.
"These opportunities came about through a substantial effort from the whole Noxopharm team and our partners at the Hudson Institute of Medical Research over the past 18 months, presenting at many international conferences and a large number of follow up meetings.
"It should be noted than an MTA does not necessarily entail a future commercial agreement, but it is indispensable as the basis for any potential future negotiations. As each company proceeds at its own pace through the evaluation process and the outcomes are as yet unknown, we are not able to provide timelines for next steps.
"In addition to our current MTAs, we are continuing to explore further commercial opportunities as external parties become increasingly aware of our valuable intellectual property and the exciting potential it holds."
