NOVAREMED-AG
Novaremed AG, a Swiss clinical-stage biopharmaceutical company, announced today that it has successfully raised additional financing of CHF 6 million from existing shareholders and several new private investors. The financing raised via a rights offering, with pro-rata rights for existing shareholders, was significantly oversubscribed. The proceeds of the financing will be used to prepare for a global Phase 2b clinical study of its lead compound, NRD.E1, a novel, first-in-class, small molecule for patients suffering from diabetic neuropathic pain (DNP).
Eli Kaplan, MD, Founder and CEO of Novaremed AG, commented: “I am delighted that our existing shareholders and several new private investors invested significantly in our rights offering. Their investment commitment reflects the potential they see in Novaremed and its lead program in DNP.”
Together with CHF 4.44 million raised in April 2018, the company will be well capitalized to prepare for a global Phase 2b clinical study, which is expected to be initiated in H2 2019.
Notes to the Editor:
About diabetic neuropathic pain (DNP)
Diabetes (Type 1 and Type 2) is the leading cause for neuropathy.1 Up to 20% of diabetic patients suffers from DNP2 and two-third of those – more than 15 million patients - experience chronic, debilitating pain that substantially impairs quality of life. The efficacy of available treatments is limited and associated with many adverse effects and drug to drug interactions.
1. Snyder, MJ; Gibbs, LM; Lindsay, TJ: “Treating Painful Diabetic Peripheral Neuropathy: An Update”. American Family Physician. 94 (3): 227–34, 2016
2. van Hecke O. Et al; Pain 2014, 155: 654-662
About NRD.E1
NRD.E1 is a small, once daily, orally available molecule, first synthesized in 2009. NRD.E1 has been shown to be an allosteric modulator of Lyn Kinase and is first in class. It is currently being developed for the treatment of DNP. The recently concluded 3-week, placebo-controlled, randomized Phase 2a proof of concept clinical study in 88 patients suffering from DNP showed clinically relevant reduction in patient-reported pain. NRD.E1 was well tolerated at all doses studied on the Phase 2a study.
About Novaremed
Novaremed Ltd. was founded in 2008 in Israel. In early 2018, the clinical-stage biopharmaceutical company was incorporated in Switzerland as Novaremed AG to gain rapid access to highly qualified staff and services required for rapid clinical development on a global scale. Besides evaluation of its lead compound NRD.E1 in DNP, further indications will be explored as part of a comprehensive life-cycle management, supported by efficacy demonstrated in multiple animal models of pain and other indications.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180823005596/en/
Contact:
Novaremed AG
Subhasis Roy, Chief Operating Officer
Tel: +41 79
2075715
Email: subhasis.roy@novaremed.com
Web:
www.novaremed.com
About Business Wire
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
Art Collective teamLab to Open New Museum, teamLab Biovortex Kyoto on October 7, 20257.8.2025 08:00:00 CEST | Press release
Unveiling 7 artworks, including pieces never before exhibited in Japan. Tickets on Sale now teamLab Biovortex Kyoto, art collective teamLab’s permanent art museum, is set to open in Minami-ku, Kyoto, as part of the Kyoto Station Southeast Area Project on October 7, 2025. This will be teamLab's largest museum in Japan, spanning over 10,000 square meters. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250806347101/en/ Even if individual elements are separated in space and time, when a structural order appears among them, the elements transcend space and time and form a single entity. Despite significant changes in shape or size on the surface, or even if all of the elements are replaced, the single existence will be maintained. This spatiotemporal existence is part of the whole, it appears from the whole, and is returned to it. It is a living universe - a biocosmos. (teamLab, Morphing Continuum © teamLab) In preparation for th
Allianz Announces Excellent Performance and Is Fully on Track for Full-year Ambitions7.8.2025 07:13:00 CEST | Press release
2Q 2025 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250806235547/en/ Oliver Bäte, Chief Executive Officer of Allianz SE Allianz achieves strong growth and record operating profitTotal business volume rises 8.01 percent to 44.5 billion euros, supported by good growth across all segments Operating profit increases 12.2 percent and reaches a record level of 4.4 billion euros, with particular strong contribution from the Property-Casualty segment Shareholders’ core net income advances by 17.3 percent and reaches 3.0 billion euros. Adjusted for the 0.3 billion euros disposal gain on the UniCredit Joint Venture, shareholders’ core net income increases 7.1 percent 6M 2025 Excellent performance across our businesses and record operating profitTotal business volume grows 10.1 1 percent and reaches 98.5 billion euros, with contributions from all segments Operating profit increases 9.3 percent to 8.6 billion euros, our highest half-
New pulp mill boosts Suzano's sales and revenue in the second quarter of 20257.8.2025 04:17:00 CEST | Press release
Suzano, the world’s largest pulp producer, announces its results for the second quarter of 2025 (2Q25), reporting sales of 3.7 million tonnes of pulp and paper. Sales increased 28% over the same period in 2024 (2Q24), mainly reflecting the strong operational contribution of the new Ribas do Rio Pardo pulp mill, whose production started in July 2024. Net revenue in the quarter totaled R$13.3 billion, a 16% increase compared to 2Q24. The expansion of pulp production capacity in Brazil, combined with the positive contribution to paper sales from the mills recently acquired in the United States and favorable FX rates, mitigated the impact on net revenue of lower pulp prices in the global market compared to 2Q24. As a result, Suzano's adjusted EBITDA reached R$6.1 billion and operating cash generation totaled R$4.1 billion. Net profit totaled R$5.0 billion positively impacted by the accounting impact of US dollar denominated debt and hedging operations translating into Brazilian Real. Beto
Graanul - Update on the Consent Solicitation and Scheme Solicitation6.8.2025 22:22:00 CEST | Press release
Graanul: Update on the Consent Solicitation and Scheme Solicitation relating to: €250,000,000 Floating Rate Sustainability-Linked Senior Secured Notes due 2026 (Regulation S Notes: ISIN Number XS2397354015 / Common Code 239735401 Rule 144A Notes: ISIN Number XS2397354288 / Common Code 239735428) (the “Existing Floating Rate Notes”) and €380,000,000 4.625% Sustainability-Linked Senior Secured Notes due 2026 (Regulation S Notes: ISIN Number XS2397354528 / Common Code 239735452 Rule 144A Notes: ISIN Number: XS2397355095 / Common Code 239735509) (the “Existing Fixed Rate Notes” and together with the Existing Floating Rate Notes, the “Existing Notes”) of Cullinan Holdco SCSp a special limited partnership (société en commandite spéciale) established under the laws of Luxembourg, having its registered office at 2, avenue Charles de Gaulle, L-1653, registered with the Luxembourg Register of Commerce and Companies under number B-256979 (the “Issuer” and together with its subsidiaries, “Graanul”
Statement by Aviator LLC6.8.2025 16:18:00 CEST | Press release
Company successfully initiates proceedings following Georgian court victories; UK injunction preserves status quo pending trial Aviator LLC today issued a statement clarifying the nature and scope of a recent UK court ruling following public statements made by SPRIBE OU regarding interim injunction proceedings. According to Nikoloz Gogilidze, legal representative for Aviator LLC, the recent court order was an interim injunction with limited scope and commercial impact. Gogilidze highlights the key points of the proceedings, which appear to have been mischaracterized in some media reports. Nature of the Court Order: The ruling represents an interim injunction granted at a preliminary procedural stage, not a final determination on the merits of the underlying dispute. Such orders are designed to maintain the status quo pending full trial proceedings. Commercial Impact: The injunction has no practical effect as neither Aviator LLC nor its IP rights licensee had any existing plans to enter
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