Novaremed Secures Additional Financing and Strengthens Leadership
2.9.2019 12:38:00 EEST | Business Wire | Press release
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.
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/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
U.S. FDA Approves Takeda’s ORZEYFUL™ (oveporexton), the First and Only Medicine to Treat the Underlying Cause of Narcolepsy Type 16.8.2026 01:10:00 EEST | Press release
Takeda (TSE:4502/NYSE:TAK) announced that the U.S. Food and Drug Administration (FDA) approved ORZEYFUL™ (oveporexton), an oral orexin receptor 2 (OX2R) agonist, for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults.* The persistent 24-hour nature of NT1 is driven by orexin deficiency and can severely impact people’s lives. As a first-in-class orexin treatment, ORZEYFUL is the only medicine indicated in the U.S. to treat the disease holistically rather than individual symptoms. “The FDA approval of ORZEYFUL marks a new chapter for the narcolepsy type 1 community, as we introduce an entirely new class of medicine that will potentially redefine how this disease is managed and howpeople feel on treatment,” said Julie Kim, president and chief executive officer of Takeda. “We are proud to have discovered and developed this orexin treatment innovation and will bring it to adults living with NT1 as quickly as possible.” NT1 is a rare, chronic neurological disease d
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.8.2026 23:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to fourteen newly hired non-executive employees. The equity awards were granted on August 3, 2026 and consisted of options to purchase an aggregate of 139,355 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 66,300 shares. The options have an exercise price per share equal to $11.25, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted
Clinilabs Announces Medical Leadership Appointments5.8.2026 17:05:00 EEST | Press release
Clinilabs (“Clinilabs LLC”), a global, full-service contract research organization (CRO) specializing in central nervous system (CNS) drug and device development, today announced the appointments of Bob Dagher, M.D., as Chief Medical Officer and Waqar Ahmed Siddiqui, M.D., as Principal Investigator of the Company’s Eatontown, New Jersey Clinical Research Unit (CRU). Dr. Dagher will provide strategic and medical leadership across the organization, while Dr. Siddiqui will lead the execution of research projects at the Company’s CRU. Together, they will support the design, development, and execution of clinical programs for pharmaceutical, biotechnology, and medical device sponsors advancing innovative therapies for psychiatric, neurological, substance use, and rare CNS disorders. “Clinilabs has earned the trust of sponsors by combining deep scientific expertise, medical leadership, and operational excellence with a track record of execution from first-in-human studies through regulatory
Interactive Brokers Adds Brazilian Futures through Brazil’s B3 Exchange5.8.2026 17:00:00 EEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced that eligible clients outside of Brazil can now trade Brazilian futures in addition to equities through the B3 exchange. Interactive Brokers was the first broker to provide international investors with streamlined, low-cost access to B3. Offering Brazilian futures and equities alongside products across more than 170 markets worldwide underscores IBKR’s commitment to broadening global market access and giving clients efficient, cost-effective ways to diversify through a single, unified platform. Access to B3 provides exposure to one of Latin America’s most active and liquid markets, providing long-term growth potential across multiple sectors and another way for investors to pursue emerging market opportunities. "Global investors deserve seamless, low-cost access to the world's most compelling markets, including emerging economies shaping tomorrow's financial landscape," said Milan Galik, Chief Executive Off
Speech Processing Solutions Launches Philips SpeechLive Legal AI Assistant for Faster, More Accurate Legal Document Creation5.8.2026 16:37:00 EEST | Press release
Speech Processing Solutions, the global leader in AI-assisted professional dictation and documentation solutions sold under the Philips brand, today announced the Philips SpeechLive Legal AI Assistant. The new solution transforms voice recordings, dictation and uploaded sources into structured, ready-to-review legal documents, helping legal professionals work faster while retaining control of the final draft. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260805997413/en/ The new Philips SpeechLive Legal AI Assistant is designed for turning conversations into ready-to-review legal document drafts. SpeechLive Legal significantly reduces the time needed to transform voice input into structured legal documentation, delivering consistent and high-quality drafts and featuring SpeechLive's built-in integrations with leading case management platforms such as Actionstep, Clio, iManage and NetDocuments, supporting existing billing, e
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