VANCOUVER, BC / ACCESSWIRE / April 14, 2023 / BioNxt Solutions Inc. ("BioNxt" or the "Company") (CSE:BNXT)(OTCQB:BNXTF)(FSE:BXT) is pleased to provide an update on its enteric coating and drug delivery program for solid oral drug dosage forms. BioNxt's contract research partner has completed the production of prototype active pharmaceutical ingredient ("API") coated tablets using the Company's recently acquired technology.
BioNxt is reviewing opportunities for future evaluation of the coating technology in human bioavailability pilot studies. The Company plans to carry out such studies in North America. The Company is also reviewing the related patent status including freedom to operate and derivative patent opportunities.
The global oral solid dosage pharmaceutical market was valued at US$ 524.6 billion in 2021 and is expected to top US$ 1.03 trillion in value by the end of 2032, expanding rapidly at a CAGR of 6.4% over the 2022-2032 study period according to Fact.MR research and consulting. Revenue from the sales of oral solid dosage pharmaceuticals accounted for 23.8% share of the global pharmaceutical drug delivery market in 2021.
The Company also announces that it has engaged Apaton Finance GmbH (the "Consultant") to provide digital marketing and communications services for the Company from April 17 to April 28, 2023. Pursuant to the engagement, the Company has paid the Consultant a one-time consulting fee of Euro 50,000. The Consultant is an arm's length party to the Company.
About BioNxt Solutions Inc.
BioNxt Solutions Inc. is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization and clinical evaluation of emerging active pharmaceutical ingredients for neurological applications. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
BioNxt Solutions Inc.
Hugh Rogers
CEO and Director
Email: [email protected]
Phone: +1 780-818-6422
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
SOURCE: BioNxt Solutions Inc.