Novaremed Announces Closing of a New Financing, Publication of PCT Patent Application and Participation at IASP Virtual Conference on Pain & Expo
15.9.2020 11:22:00 EEST | Business Wire | Press release
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200915005582/en/
Contact information
For further information about Novaremed, please contact:
Subhasis Roy, CEO/COO
Tel: +41 79 2075715
Email: subhasis.roy@novaremed.com
www.novaremed.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Siren Fusion 2026: The Convergence of People, Technology and Ideas4.3.2026 15:30:00 EET | Press release
Siren today announced Siren Fusion 2026, its inaugural global summit convening senior investigators, national security leaders and AI innovators for a high-trust forum on the future of investigative intelligence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304240853/en/ Siren Fusion 2026 is the convergence of people, technology and ideas, in Galway, Ireland. An invitation-only summit for global intelligence, national security and investigative leaders. Taking place in Galway, Ireland, Fusion is the deliberate convergence of people, technology and ideas within a national security frame. Structured as an educational and strategic forum rather than a conventional conference, Fusion 2026 focuses on the issues that now define the intelligence and law enforcement agenda: Geopolitical instability AI-driven investigative transformation Cognitive warfare and influence operations Entity resolution and data integrity at scale The
Mary Kay Goes for Gold in Global Manufacturing Standards4.3.2026 15:11:00 EET | Press release
Mary Kay Inc., a global direct sales leader in beauty and skincare innovation, has achieved ISO 22716 certification, the internationally recognized gold standard for cosmetic Good Manufacturing Practices (GMP), reinforcing the company’s unwavering commitment to product quality, safety, and consumer trust worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304100367/en/ Chaun Harper, Chief Supply Chain Officer at Mary Kay Inc., emphasized the broader significance of the milestone: “At Mary Kay, quality is not a checkbox – it is a promise, an operational framework, and a culture. (Photo Credit: Mary Kay Inc.) Key Data Points About Mary Kay’s Global Manufacturing: Built on 26 acres of land, Mary Kay’s state-of-the-art, Silver LEED-certified Richard R. Rogers Manufacturing and R&D Center (R3) is located in Lewisville, Texas. R3 is a $100+ million investment and is a 453,000-square-foot building. R3 has the capability to
NelsonHall Recognizes LTM as a Leader in GenAI & Process Automation for Banking4.3.2026 14:45:00 EET | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has been recognized as a Leader in the ‘Overall’ market segment in the NelsonHall NEAT Evaluation for GenAI & Process Automation in Banking 2025. In the NEAT framework, Leaders are vendors that demonstrate high capability relative to peers in delivering immediate client benefit while also meeting future client requirements. The recognition positions LTM among the top-performing vendors evaluated for their ability to deliver both immediate business impact and long-term innovation capability in GenAI and process automation services for the banking sector. The evaluation highlights LTM’s depth of experience in financial services, which accounts for a large portion of its overall revenues, and its focused investments in GenAI, agentic AI, and process automation capabilities delivered through its BlueVerse™ platform. LTM has digital agents dedicated to manage GenAI and process automation services, supporting banking cl
Americhem Expands Aircraft Interior Portfolio with PFAS-Free Thermoplastic Platform Meeting 55/55 OSU, Low Smoke, and Low Toxicity Requirements4.3.2026 14:00:00 EET | Press release
Americhem is expanding its aircraft interior materials portfolio with ColorFast® SFT5500, a PFAS-free high-performance thermoplastic engineered to meet FAA 14 CFR 25.853, Appendix F, Part IV, 55/55 OSU heat release requirements while delivering low smoke and low toxicity characteristics for aircraft interior applications. PFAS-free thermoplastic systems capable of achieving 55/55 OSU performance while maintaining low smoke and low toxicity characteristics remain limited in the aerospace market. ColorFast® SFT5500 addresses this need with demonstrated 55/55 OSU heat release performance, low smoke emission characteristics, and low flaming-mode toxicity performance in a high-performance thermoplastic platform designed specifically for injection-molded interior components. Aircraft interior thermoplastics must meet stringent fire standards while maintaining durability, thermal stability, and process consistency. As legacy fluorinated material systems face increasing regulatory scrutiny, ma
NETSCOUT Reveals Qualitative Shifts in DDoS Attack Sophistication, Infrastructure Capacity, and Threat Actor Capabilities4.3.2026 13:05:00 EET | Press release
NETSCOUT® SYSTEMS, INC. (NASDAQ: NTCT), today released its second half of the year 2025 Distributed Denial-of-Service (DDoS) Threat Intelligence Report, revealing sophisticated attacker collaboration, resilient botnets, and compromised IoT infrastructure that drove more than eight million DDoS attacks worldwide – some as large as 30 terabits per second (Tbps) – marking a new era of hyper-scale, coordinated threat activity that continues to outpace global takedown efforts. Meanwhile, the accelerating growth of DDoS-for-hire services is empowering a broader range of threat actors, intensifying operational risk to digitally connected organizations and enterprises. Implications for security professionals extend far beyond volumetric concerns and include reconnaissance and adaptive evasion which challenge traditional defense paradigms. Organizations must match adversarial innovation with intelligent, autonomous defenses, or risk operational disruption at levels previously considered theoret
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom