Onco-Innovations Signs LOI with Nanosoft Polymers to Advance Polymer and Drug Delivery Development for the ONC010 Program
Rhea-AI Summary
Onco-Innovations (OTCQB:ONNVF) signed a non-binding LOI with Nanosoft Polymers to explore a services agreement supporting polymer process development, formulation optimization and drug delivery work for its ONC010 PNKP inhibitor program.
The company also appointed Dave Antony as Vice President of Corporate Finance to strengthen financial planning and governance.
Positive
- Non-binding LOI with Nanosoft Polymers to support ONC010 polymer and drug delivery development
- Experienced polymer scientists involved, including co-inventors of the company’s nano delivery system
- Appointment of Vice President of Corporate Finance with over 35 years capital markets and governance experience
Negative
- LOI with Nanosoft is non-binding and may not lead to a final services agreement
News Market Reaction – ONNVF
In the Jun 9 session, ONNVF declined 4.92%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / June 5, 2026 / Onco-Innovations Limited (CBOE CA:ONCO)(OTCQB:ONNVF)(Frankfurt:W1H, WKN: A3EKSZ) ("Onco" or the "Company") is pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") with Nanosoft Polymers ("Nanosoft"), a biotechnology-focused polymer company, as an initial step toward negotiating a services agreement related to polymer process development, analytical characterization, and drug formulation optimization activities for the Company's exclusively licensed PNKP Inhibitor Technology, ONC010. The LOI is non-binding, and there is no certainty that a services agreement will be entered into.
Nanosoft specializes in the development of functional polymers and copolymers for drug delivery, diagnostics and therapeutic applications. Nanosoft is led by Dr. Xiaobing Xiong, an experienced polymer scientist with extensive expertise in translational polymer engineering and nanotechnology-enabled drug delivery systems. Dr. Xiong worked under the guidance of Dr. Afsaneh Lavasanifar, a leading nanoparticle scientist at the University of Alberta. Both Dr. Xiong and Dr. Lavasanifar are co-inventors of Onco-Innovations' patented nano delivery system.
The LOI sets out the parties' intent to negotiate toward definitive documentation for proposed polymer-related development activities, which is expected to include polymer synthesis and process optimization, analytical characterization methodology support, formulation optimization activities, encapsulated API development support, and process transfer planning intended to support potential future GMP manufacturing activities.
"This LOI with Nanosoft represents a solid preliminary step as we continue building the technical framework around ONC010. Polymer engineering and nanoparticle formulation are important components of our development pathway, and the proposed relationship with Nanosoft is intended to support further planning around scalability, reproducibility and regulatory readiness," said Thomas O'Shaughnessy, Chief Executive Officer of Onco-Innovations.
Dr. Islam Mohamed, Chief Medical Officer of Onco-Innovations, added, "The development of nanoparticle-based oncology therapeutics requires careful integration of polymer science, formulation engineering and analytical characterization. Dr. Xiong's prior experience with the Company's proprietary nano delivery system, together with Nanosoft's polymer-focused expertise, provides a strong basis for the proposed relationship contemplated by the LOI as we continue preparing ONC010 for future clinical and regulatory development activities."
The Company also announces the appointment of Dave Antony as Vice President of Corporate Finance. Mr. Antony brings more than 35 years of experience assisting companies with financial planning, financial reporting, corporate governance, and public company advisory matters.
Throughout his career, Mr. Antony has worked with Canadian and international companies and organizations across a broad range of sectors, including health and wellness, technology, natural resources, regulated gaming, and loyalty and media marketing. He has served as a director or officer of numerous public and private companies, providing financial and governance oversight during various stages of corporate development.
Mr. Antony's experience also includes capital markets and exchange-related advisory work. He has served as Chairman of the TSXV Advisory Committee for Alberta and as a member of the TSXV National Advisory Committee. His background in public company governance, financial reporting, and corporate finance is expected to support Onco as the Company continues to advance its oncology-focused development strategy and engage with capital markets stakeholders.
About Onco-Innovations Limited
Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco's mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The company has secured an exclusive worldwide license to patented technology that targets solid tumours.
About Nanosoft Polymers
Nanosoft Polymers is a biotechnology-focused polymer manufacturer based in Winston-Salem, North Carolina, specializing in functional polymers and copolymers for drug delivery, diagnostics and therapeutic applications. The company's expertise includes polymer synthesis and functionalization, nanoparticle fabrication, surface modification and custom synthesis of reactive oligomers and polymers across a broad range of molecular weights.
ON BEHALF OF ONCO-INNOVATIONS LIMITED,
"Thomas O'Shaughnessy"
Chief Executive Officer
For more information, please contact:
Thomas O'Shaughnessy
Chief Executive Officer
Tel: + 1 888 261 8055
investors@oncoinnovations.com
Forward-Looking Statements Caution. This news release contains forward-looking statements, including in relation to the Company's research and development plans, business and plans generally, and other statements that are not historical facts, including in relation to the LOI, the possibility of entering into a definitive services agreement with Nanosoft, the anticipated benefits of the relationship, and its future research and development plans. Forward-looking statements are often identified by terms such as "will", "may", "potential", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. In particular, the Company may not be able to enter into a definitive services agreement or derive any benefit from its relationship with Nanosoft, and may not be able to carry out its research and development plans for a variety of reasons, including, but not limited to, the failure to receive regulatory approvals, the failure to maintain contractual relations and the failure to obtain financing and retain key personnel. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Onco-Innovations Limited
View the original press release on ACCESS Newswire