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
Centralized Supply Chain Services, LLC (CSCS®), Applebee’s ®, and IHOP ® Recognize 2026 Supplier Partners of the Year30.10.2026 14:00:00 EET | Press release
Centralized Supply Chain Services, LLC (CSCS®), together with Applebee’s® and IHOP®, have named Pacific Prime Meats and Custom Foods of America their 2026 Supplier Partners of the Year, honoring the companies for their collaboration, innovation, and commitment to supporting restaurant success across the Applebee’s and IHOP systems. The awards were presented at the Applebee’s Franchise Conference and IHOP Supplier Summit in Austin, Texas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261030647942/en/ Pacific Prime Meats was named 2026 Applebee’s Supplier Partner of the Year, recognizing the company’s exceptional responsiveness, agility, and support on behalf of the Applebee’s system. Pacific Prime Meats was named 2026 Applebee’s Supplier Partner of the Year, recognizing the company’s exceptional responsiveness, agility, and support on behalf of the Applebee’s system. “Pacific Prime Meats distinguished itself through its comm
Europerfusion 2026: Eurosets Introduces Trilly Baby, the New Oxygenator for Cardiopulmonary Bypass in the Smallest Patients30.10.2026 13:45:00 EET | Press release
Eurosets presents Trilly Baby at Europerfusion 2026 (Belgrade, October 30-31), a new oxygenator designed for cardiopulmonary bypass procedures in the smallest patients requiring open-heart cardiac surgery. Engineered to operate with flow rates from 0.1 to 1.8 liters per minute, Trilly Baby represents a further step in the evolution of the Italian biomedical company's cardiopulmonary portfolio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261030531073/en/ Trilly Baby at Europerfusion 2026. Antonio Petralia, CEO of Eurosets, and Gabriele Pastorelli, Sr. Global Marketing Manager Cardiopulmonary - LATAM Area Manager The device, which is expected to achieve the CE mark by the end of 2026, will enter a controlled market release phase starting in January 2027. This initial controlled rollout will involve 14 leading European pediatric surgery centers, selected for their specialization in treating the smallest patients and in advan
Men’s Interest in Appearance Is Growing: 36% Say Looking Their Best Matters More Than Five Years Ago, NIQ Finds30.10.2026 12:45:00 EET | Press release
NielsenIQ (NYSE: NIQ), a global leader in consumer intelligence, today shared findings showing that 36% of men say looking their best, including beauty and skincare, matters more to them than it did five years ago. More than half (54%) say aging well has become more important over the same period. Yet the opportunity for beauty brands may extend beyond products specifically marketed to men. Across 10 Western European markets, sales value of skincare positioned for all genders grew 7% year over year, while male-targeted skincare was flat. The findings suggest that brands should look beyond traditional product positioning to understand men’s needs, shopping behavior, and the products they choose. In its report, The Permission Gap: The Global State of Male Beauty, NIQ examines how social expectations, generational differences and purchasing behavior are shaping men´s engagement with beauty across markets and categories. Key findings Appearance and aging matter more: 36% of men say looking
INSEAD Establishes Thrive Lab With US$3 Million Funding From Google.org and Google DeepMind30.10.2026 11:00:00 EET | Press release
INSEAD, The Business School for the World, today announced it has received US$3 million in funding from Google.org and Google DeepMind. The funding will support the Research Lab for Human and Organisational Thriving (INSEAD Thrive Lab), aimed at accelerating global research on how people and organisations can flourish in an era of continuous technological transformation. Artificial intelligence is emerging as the most consequential technology that profoundly shapes how people learn, work, live and interact with one another. While it presents near limitless possibilities, we need to give careful attention to the potential risks. How can we strengthen our human, social and psychological capital amid relentless technological change? And how must our ecosystems of learning – spanning educational, community, and professional spheres – evolve to build this capital? These are the central questions that the INSEAD Thrive Lab will focus on. "We want to understand how people can expand their cap
Sharjah Unveils Uruk: A New Generation of Sustainable Cities Built for the Post-AI Era29.10.2026 20:15:00 EET | Press release
In the presence of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and Her Highness Sheikha Bodour bint Sultan Al Qasimi, President of American University of Sharjah and Chairperson of Sharjah Research, Technology and Innovation Park, a pioneering model for a new generation of cities designed for the post-AI era called “Uruk.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261029129346/en/ H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, during the inauguration of “Uruk” (Photo: AETOSWire) The project was revealed at the opening of the second edition of Sharjah Next, through a strategic partnership between Sharjah Research, Technology and Innovation Park (SPARK), American University of Sharjah (AUS) and SEE Holding, bringing together their capabilities in innovation, scientific research and sustainable urban development. Uruk introduces a new vision for urba
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