Novaremed Secures Additional Financing and Strengthens Leadership
Novaremed AG (Novaremed), a clinical-stage Swiss biopharmaceutical company, today announced that it has secured CHF2.6 million in additional financing from its existing shareholders and several new private investors. This brings the total financing raised by the company, since its inception, to CHF21 million. In addition, the company announced that Subhasis Roy, Novaremed’s COO since April 2018, will be stepping up and fulfilling the role of Interim CEO.
The recent funding and strengthened leadership team are both integral developments for Novaremed as the company accelerates its preparation towards initiating a Phase 2b study in Diabetic Neuropathic Pain (DNP). The company is pleased to have received positive feedback from the FDA from their recently conducted Pre-IND meeting, which sets the path forward for the IND opening of the Phase 2b study in DNP.
"This additional financing underscores the commitment of our shareholders and private investors, as well as their faith in Novaremed’s potential," said Harry Welten, Chairman of the Board of Novaremed. "Novaremed is well-positioned with a seasoned leadership team, led by Subhasis, to drive Novaremed’s clinical development and operations forward."
Notes to the Editor:
About Novaremed
Novaremed Ltd. was founded in 2008 in Israel and transferred its corporate headquarters to Novaremed AG, founded in November 2017 in Switzerland. Novaremed is developing NRD.E1, an orally active non-opioid small molecule with a new mechanism of action for the treatment of DNP. In a Phase 2a Proof of Concept study, NRD.E1 showed clinically relevant reduction in patient reported pain. Novaremed is currently preparing for a global Phase 2b study in DNP, expected to start in Q2/3 2020. For more information, visit www.novaremed.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190902005074/en/
Contact information
Subhasis Roy, Interim CEO/COO
Tel: +41 79 2075715
Email:
subhasis.roy@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
IWBI Announces New Co-chairs and More than 225 Members of the Task Force on COVID-19 and Other Respiratory Infections: Prevention and Preparedness, Resilience and Recovery7.4.2020 00:03:00 EEST | Press release
The International WELL Building Institute (IWBI) today announced the addition of four renowned industry, academic and public health leaders from the U.S., United Kingdom, China and Singapore as the newest co-chairs of its Task Force on COVID-19 and other Respiratory Infections: Prevention and Preparedness, Resilience and Recovery. They join expert co-chairs from the U.S. and others from China who will help define the critical role buildings, organizations and communities play in reducing the health burden from this and other infectious diseases. Adding to the expertise of the Task Force as co-chairs are Despina Katsikakis, international partner and head of occupier business performance at Cushman & Wakefield; Dr. Wang Qingqin, vice president of China Academy of Building Science (CABR); Dr. Lam Khee Poh, Provost's Chair professor of Architecture and Building and dean, School of Design And Environment, National University of Singapore, and Joanne Mahoney, chief operating officer at the S
CORRECTING and REPLACING Global Plasma Leaders Collaborate to Accelerate Development of Potential COVID-19 Hyperimmune Therapy6.4.2020 20:58:00 EEST | Press release
Please replace the release with the following corrected version due to multiple revisions to the Octapharma boilerplate and inclusion of additional multimedia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200406005285/en/ GLOBAL PLASMA LEADERS COLLABORATE TO ACCELERATE DEVELOPMENT OF POTENTIAL COVID-19 HYPERIMMUNE THERAPY Partnership brings together world-leading plasma companies to focus on developing and delivering a hyperimmune immunoglobulin in the global fight against COVID-19 Biotest, BPL, LFB, and Octapharma have joined an alliance formed by CSL Behring (ASX:CSL/USOTC:CSLLY) and Takeda Pharmaceutical Company Limited (TOKYO:4502/NYSE:TAK) to develop a potential plasma-derived therapy for treating COVID-19. The alliance will begin immediately with the investigational development of one, unbranded anti-SARS-CoV-2 polyclonal hyperimmune immunoglobulin medicine with the potential to treat individuals with serious complic
Cognite Awarded Google Cloud Technology Partner of the Year 2019 for Manufacturing6.4.2020 19:00:00 EEST | Press release
Cognite, a global industrial DataOps and AI software-as-a-service (SaaS) company, was announced as the 2019 Google Cloud Technology Partner of the Year for Manufacturing. Cognite currently supports the full-scale digital transformation of heavy-asset industries around the world, empowering industrial companies to save on costs, reduce environmental footprints to improve sustainability and increase profits made possible through Cognite Data Fusion (CDF). This international award recognizes one Partner that has implemented multiple Google Cloud technologies to demonstrate how they work together easily to deliver solutions based on individual customer needs. “We appreciate being recognized for creating value through our software products by turning historical and real-time industrial data into insights. We have seen a number of our manufacturing clients develop and deliver new digital services and even transform their business model as a result of using Cognite Data Fusion,” said Dr. John
Verimatrix Announces Server-side Watermarking Integration with Akamai Intelligent Edge Platform6.4.2020 18:45:00 EEST | Press release
Regulatory News: Verimatrix, (Paris:VMX), formerly known as Inside Secure, a global provider of innovative, customer-friendly cybersecurity solutions that protect content, devices, software and applications, today announced a partnership with Akamai, the intelligent edge platform for securing and delivering digital experiences, to offer global enterprise server-side watermarking capabilities. By using Verimatrix server-side Watermarking pre-integrated with Akamai's Intelligent Edge Platform, Akamai customers can take advantage of a highly efficient, powerful approach to ensure that their premium video content stays protected. The unauthorized redistribution of content, especially restreaming of live sports events, leads to millions of dollars in annual lost revenue. Verimatrix Watermarking consists of session-based, user-specific tracking and source identification, which allows operators to trace sources of pirated content in real time. It is robust against various attack types, includ
Alpega TMS Brings Together the Expertise of inet and Transwide6.4.2020 17:00:00 EEST | Press release
Alpega Group announces Alpega TMS, a union of inet and Transwide’s cloud-based Transportation Management Systems. The new software provides a uniquely scalable solution, designed to manage all levels of logistics complexity. At the same time, Alpega Group has been recognized as a Challenger in Gartner’s 2020 Magic Quadrant for Transportation Management Systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200406005391/en/ Alpega Group announces Alpega TMS, a union of inet and Transwide’s cloud-based Transportation Management Systems. The new software provides a uniquely scalable solution, designed to manage all levels of logistics complexity. At the same time, Alpega Group has been recognized as a Challenger in Gartner’s 2020 Magic Quadrant for Transportation Management Systems. (Photo: Business Wire) Alpega TMS is the combination of two of the market’s most innovative, established and trusted solutions. inet has long been
Brightcove Launches New Mobile App to Streamline Employee Communications via Video6.4.2020 16:00:00 EEST | Press release
Brightcove Inc. (NASDAQ:BCOV), the leading provider of cloud services for video, today announced Brightcove Engage™, a purpose-built application developed for internal communications professionals to inform employees using the most powerful and effective means of communication ever created: mobile video. With templates for quickly organizing content, analytics for monitoring engagement, and enterprise-grade security and stability, Brightcove Engage streamlines internal communications using the power of video. Studies have shown that employee engagement is highly related to positive business outcomes, therefore Brightcove Engage fills a significant market need by allowing employees to view content in a modern, interactive way. Merging the two most effective mediums of digital communications – video and mobile – Brightcove Engage empowers internal communications professionals to build branded mobile experiences and securely broadcast company-wide live events, like town halls, as well as
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