04:29 AM EST, 11/11/2026 (MT Newswires) -- Pharmaceutical development company Nuformix (NFX.L) signed non-binding heads of terms for its planned acquisition of Biovara through a share-for-share exchange transaction, according to a Wednesday filing. The merger aims to create a substantial, diversified, respiratory-focused pharmaceutical development business by combining Biovara's LipAprep clinical program for lung cancer-related cough with Nuformix's NXP002 program for idiopathic pulmonary fibrosis and other fibrotic interstitial lung diseases. The deal includes a six-month exclusivity term, with a long-stop date of April 30, 2027. The transaction remains subject to due diligence procedures, the execution of binding documents, regulatory clearances, and shareholder approvals.

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