|New Financing Round Will Fund the Development of an Innovative Dry Eye Portfolio; First Product Targeted for Approval in 2013 |
HEIDELBERG, Germany - Saturday, April 13th 2013
(BUSINESS WIRE/ ME NewsWire)-- Novaliq GmbH, a drug delivery company with a focus on the efficacious topical application of poorly soluble drugs, today announced the successful completion of a fifth round of financing of €13.9m ($18.1m). Since 2007, the company has raised €27.1m ($35.2m).
Financing was again secured exclusively from the investment company of SAP, co-founder Dietmar Hopp’s Dievini Hopp Bio Tech Holding GmbH & Co. KG. With the new funds, the company intends to advance its lead projects into the medical device field to approval, progress its pharmaceutical project CyclASol™ into clinical development, and extend its technology platform.
Dievini is an active investor in life and health sciences companies focusing on innovative therapeutics and diagnostics facilitating novel treatment regimens that will ultimately allow doctors to treat patients with life-threatening diseases better and safer than they can today.
"Novaliq is building an entirely new class of topical drugs for ophthalmic indications, including dry eye, which have the capability to offer compelling alternatives to current products. We are delighted to further invest in Novaliq, with its pioneering ocular drug delivery technology and strong management team,” said Mathias Hothum, Managing Director of Dievini Hopp.
Novaliq GmbH is a drug delivery company developing a superior generation of ocular formulations for poorly soluble drugs. Its patented ocular formulations are based on semifluorinated alkanes (SFAs), which can be easily applied in the form of topical eye drops. A new generation of both prescription and consumer ocular products is possible through the unique and proprietary properties of SFAs as a delivery vehicle.
Novaliq’s strategy is to establish a portfolio of consumer and prescription products in the field of evaporative dry eye disease. These products are intended to cover unmet needs, with one major advantage being they will be preservative free.
"We are pleased about the ongoing confidence and support from our investor in order to systematically develop the company with our technology platform. Our leading prescription product, CyclASol, is the first Cyclosporine A solution for dry eye disease, while other products are based on emulsions, containing potentially irritating surfactants,” said Bernhard Günther, CEO of Novaliq.
This proprietary SFA product is based on the EyeSol™ technology, provided preservative-free in multidose units. The absence of irritating surfactants and preservatives leads to improved tolerability and convenience.
About Novaliq GmbH
Novaliq is a drug delivery company whose goal is to develop innovative pharmaceutical formulations. Its patented semifluorinated alkanes (SFAs) can be used in various routes of administration for the transport of drugs or oxygen for therapeutic purposes. Based on its unique physicochemical properties, Novaliq currently develops innovative ophthalmic formulations, as well as solutions for organ preservation, and has several product candidates with excellent market potential in various stages of development.
Novaliq welcomes invitations from interested parties to enter discussions about significant additional development opportunities.
Bernhard Günther, CEO, + 49 6221 502 5911
Scotia Vision Consultants
Michael J. O’Rourke, 1-813-323-1438