BASEL, Zwitserland– (BUSINESS WIRE) – Novaremed AG (Novaremed), een Zwitsers biofarmaceutisch bedrijf in klinische fase, kondigde vandaag aan dat het CHF 2,5 miljoen heeft opgehaald van zijn bestaande aandeelhouders in een overtekende nieuwe financieringsronde. Dit brengt de totale financiering die de onderneming sinds haar oprichting heeft opgehaald, op 23,5 miljoen CHF. De extra opbrengst zal worden gebruikt ter voorbereiding van de start van een Fase 2b klinische studie in de VS van zijn nieuwe kandidaat-geneesmiddel, NRD135S.E1, voor de behandeling van pijnlijke diabetische perifere neuropathie (PDPN). De Amerikaanse Food and Drug Administration (FDA) had onlangs een aanvraag voor een Investigational New Drug (IND) goedgekeurd voor de klinische fase 2b-studie.

“De overinschrijving van de nieuwe financiering is een sterke bevestiging door onze aandeelhouders van de belangrijke mijlpaal die het bedrijf heeft bereikt door een IND-goedkeuring van de FDA te verkrijgen”, zei Subhasis Roy, M. Com, MBA, CEO / COO van Novaremed.

Novaremed Announces Closing of a New Financing, Publication of PCT Patent Application and Participation at IASP Virtual Conference on Pain & Expo

BASEL, Switzerland–(BUSINESS WIRE)– Novaremed AG (Novaremed), a clinical-stage Swiss biopharmaceutical company, today announced that it has raised CHF2.5 million from its existing shareholders in an oversubscribed new financing round. This brings the total financing raised by the company, since its inception, to CHF23.5 million. The additional proceeds will be used to prepare for the initiation of a Phase 2b clinical study in the US of its novel drug candidate, NRD135S.E1, for the treatment of Painful Diabetic Peripheral Neuropathy (PDPN). The U.S. Food and Drug Administration (FDA) had recently cleared an Investigational New Drug (IND) application for the Phase 2b clinical study.

“The oversubscription of the new financing is a strong endorsement by our shareholders of the major milestone achieved by the company by securing an IND clearance from the FDA”, said Subhasis Roy, M. Com, MBA, CEO/COO of Novaremed.

Novaremed also announced today that its PCT patent application covering a targeted therapy to treat pain and inflammation was published on July 30, 2020 (Publication No. WO 2020/1522226). It was titled “Compounds for use in the treatment or prophylaxis of pain, inflammation and/or autoimmunity”. This PCT application allows Novaremed to file patent applications and seek protection in most major countries worldwide. The national patent applications, if granted, will provide protection for Novaremed’s technology without a gap in patent protection until 2039/40.

Dr. Eli Kaplan, Novaremed’s Founder and Chief Innovator, commented, “This PCT patent application is a significant step in being able to protect our unique compound for neuropathic pain for many years to come. It is particularly important now as we get closer to beginning our Phase 2b clinical trial in patients with PDPN.”

Novaremed is participating at International Association for the Study of Pain (IASP) sponsored conference “Virtual Series on Pain & Expo”, which is being held virtually this year between September 2020 and March 2021. Novaremed’s poster abstract on the results of the Phase 2a Proof of Concept study has been accepted for the virtual poster gallery.

Notes to the Editor:

About Novaremed

Novaremed Ltd, a wholly owned subsidiary of Novaremed AG was founded in 2008 in Israel and Novaremed AG was founded in 2017 in Switzerland. Novaremed Ltd is developing NRD135S.E1, an orally active non-opioid small molecule with a novel mechanism of action against PDPN. In a Phase 2a Proof of Concept study, NRD135S.E1 showed clinically relevant reduction in patient-reported pain and an excellent safety and tolerability profile. Novaremed Ltd is currently preparing to conduct a Phase 2b study in PDPN patients in USA.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200915005582/en/

Contacts

For further information about Novaremed, please contact:

Subhasis Roy, CEO/COO

Tel: +41 79 2075715

Email: subhasis.roy@novaremed.com
www.novaremed.com