NOVAREMED
Novaremed AG, a privately held clinical-stage biopharmaceutical company, announces the acquisition of Metys Pharmaceuticals AG (Metys), including all of its development programs, in an all-share transaction. The acquisition broadens Novaremed’s existing pipeline by adding both clinical and preclinical development projects based on an innovative approach for non-opioid chronic pain treatment, the Company’s focus area. Moreover, it enables Novaremed to target a wider spectrum of neuropathic pain indications, potentially also addressing broader applications by including prevention in addition to the treatment of pain. On the corporate side, Novaremed is strengthening its leadership team with a new board member, Andrew J. Oakley.
“The acquisition of Metys perfectly fits our strategy of pioneering the development of non-opioid pain treatments, aiming to deliver effective and well tolerated medications to patients while simultaneously addressing the urgent need for non-addictive treatments. I am delighted that industry expert Andrew Oakley is joining Novaremed’s Board of Directors and look forward to his support in the pursuit of our ambitious goals,” said Isaac Kobrin, Executive Chairman of the Board of Novaremed . “Our key objectives for the coming months are threefold: we plan to initiate the Phase 2b study with our promising lead candidate NDR.E1 for the treatment of painful diabetic peripheral neuropathy (PDPN), advance our new pipeline candidates from the Metys acquisition and, in parallel, will approach private and institutional investors to raise additional capital to support our pipeline which bears potential to provide next generation pain therapies.”
“I am pleased and excited about the acquisition of Metys by Novaremed as it represents a validation of our unique approach to the management of the progressive symptoms of peripheral sensory neuropathy. We have a clear pathway for our Phase 2 candidate MP-101 for the management of chemotherapy-induced painful symptoms of peripheral neuropathy, and our preclinical candidate MP-103 is being prepared for Phase 1,” said Michael Scherz, PhD, founder and Chief Executive Officer of Metys Pharmaceuticals . “We share the commitment to provide novel therapies to prevent, reduce or alleviate the burden of chronic pain and improve patient’s quality of life, thereby addressing an urgent unmet medical need and ultimately also reducing overreliance on opioids. Integrating Metys’ technologies and pipeline into Novaremed represents the best way forward towards accomplishing these goals.”
Broader pipeline of non-opioid development candidates
Going forward, Novaremed’s pipeline to address neuropathic pain will focus on three non-opioid development projects with entirely different modes of action:
NRD.E1 , an orally active small molecule with a novel mechanism of action and patent protection until 2040, acts as a Lyn kinase modulator and is the Company's lead compound being developed to treat PDPN. Novaremed successfully completed a double-blind, placebo-controlled Phase 2a dose-finding proof-of-concept study in which NRD.E1 showed a clinically relevant reduction in patient-reported pain (measured as an improvement in mean neuropathic pain score) and was very well tolerated at all doses tested. Moreover, the results suggested similar or greater pain relief, and better tolerability than reported for standard approved therapies. On the basis of these positive results, Novaremed is ready to proceed with a 12-week, double-blind, placebo-controlled Phase 2b study in patients with moderate to severe PDPN in the US, where it has an open IND and Fast Track Designation from the FDA.
MP-101 , a Phase 2 clinical candidate, is an orally available modulator of glutamate signaling. It works by preventing or reversing the ramped-up signaling that occurs in the spine and brain as a result of damaged peripheral nerves. MP-101 is a patented non-racemic mixture of the dimiracetam enantiomers with patent protection until 2039. In previous Phase 1 and Phase 2 clinical studies, in a total of 176 human subjects, a benign safety and tolerability profile comparable to placebo was noted for dimiracetam, and no signs or symptoms of sedation, dependence or withdrawal symptoms emerged. Based on pre-clinical proof of concept trials of chemotherapy-related neuropathy and pre-IND discussions with the FDA, MP-101 is being developed for the management of chemotherapy-induced neuropathy and neuropathic pain. The Phase 2 trial is expected to start in the first quarter of 2023.
MP-103 , a glutamate signaling modulator orally active in diverse rodent models for prevention and treatment of peripheral nerve injury symptoms, is set to start of Phase 1 clinical development in the first half of 2023.
Enlarged pipeline addresses a high unmet medical need with a wider indication focus
With its three development candidates, Novaremed seeks to address a wider spectrum of neuropathic pain, including the most common forms of painful diabetic peripheral neuropathy (PDPN) and chemotherapy-induced peripheral neuropathy (CIPN). Sensory symptoms of peripheral neuropathy, including neuropathic pain are highly prevalent conditions, and their incidence is rising as both diabetes and cancer become more frequent. 1 in 5 diabetes patients develops PDPN and half of them require treatment due to the severity of symptoms. In cancer, 4 in 5 patients undergoing neurotoxic chemotherapy develop CIPN, highlighting the necessity for early intervention or prevention. Novel treatments for these often debilitating and intractable chronic pain conditions are urgently needed due to limited efficacy and poor tolerability of many standard of care therapies. Importantly, Novaremed’s non-opioid pipeline also aims to address the high medical need for treatments without a risk of physical dependence and abuse, an inherent danger with commonly prescribed opioid-based therapies. Novaremed sees potential for its pipeline candidates beyond PDPN and CIPN and intends to evaluate opportunities in additional neuropathic pain indications, thereby further widening its initial indication focus.
Strengthening the leadership team
Andrew J. Oakley, Board member of Metys, will join the Board of Directors of Novaremed. He is an experienced pharmaceutical and biotech industry professional and currently serves as Chief Financial Officer of Autolus Therapeutics (NASDAQ: AUTL). Previously, he held CFO positions at listed pharmaceutical companies Sosei Group (TSE:4565), Vectura Group plc (LSE: VEC) and Actelion Ltd, where he led the finance function for over a decade. Before joining Actelion, Andrew held senior finance positions for Accenture as well as executive positions in major multinational building material companies. Andrew holds a Bachelor of Economics Degree from Macquarie University and an MBA from London Business School and has been a Member of the Australian Institute of Chartered Accountants since 1987.
About Novaremed
Novaremed AG, a privately held clinical-stage biopharmaceutical company, is innovating chronic pain management through the development of effective and safe treatment options as an alternative to opioids. Its lead product is NRD.E1, an orally active non-opioid small molecule with a novel mechanism of action, has FDA Fast Track Designation and IND-approval to proceed with a Phase 2b clinical trial for the treatment of painful diabetic peripheral neuropathy (PDPN). The earlier stage pipeline addressing chronic pain includes the development candidates MP-101 (Phase 2 stage), targeting prevention and treatment of chemotherapy-induced peripheral neuropathy (CIPN), and MP-103 (preclinical stage). Novaremed’s clinical development portfolio aims to satisfy high medical patient needs and societal demands by alleviating the burden of pain associated with diabetes and cancer for patients and countering overreliance on addictive treatments. Novaremed Ltd (Israel) and Metys Pharmaceuticals AG (Switzerland) are fully-owned subsidiaries of Novaremed AG, domiciled in Basel (Switzerland). For more information: www.novaremed.com .
Read the full press release at www.novaremed.com or click here .
# # #
View source version on businesswire.com: https://www.businesswire.com/news/home/20210907005360/en/
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
Elegen and Nutcracker Therapeutics to Pilot First Fully Cell-Free Manufacturing Process for RNA-based Personalized Cancer Therapeutics11.7.2025 14:00:00 CEST | Press release
Fully cell-free process aims to further democratize personalized cancer therapeutic manufacturing with shorter turnaround times and negligible bioburden and endotoxin risks. Elegen, a global leader in next-generation DNA manufacturing, and Nutcracker Therapeutics, a global leader in next-generation RNA design and manufacturing, today announced the launch of a pilot program to demonstrate the industry’s first fully synthetic, cell-free manufacturing platform for RNA-based personalized cancer therapeutics (PCTs). The pilot marks another step toward making PCTs more accessible, timely, and scalable. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250711152688/en/ As late-stage PCT clinical trials progress and therapy developers work to create the next generation of PCTs, the speed, reliability, scaling and cost of traditional production methods pose a major challenge. Specifically, the first step of DNA template production is hi
$MBG Token Pre-Sale Set for July 15 — Only 7 Million Tokens Available at $0.3511.7.2025 10:17:00 CEST | Press release
MultiBank Group, the world’s largest financial derivatives institution headquartered in Dubai, has confirmed that its highly anticipated $MBG Token pre-sale will go live on July 15, with demand expected to be intense. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250711737311/en/ With only 7 million $MBG tokens up for grabs at an exclusive entry price of $0.35, this is a rare opportunity to secure early access to what many are calling the year’s most powerful utility asset. With only 7 million tokens up for grabs at an exclusive entry price of $0.35, this is a rare opportunity to secure early access to what many are calling the year’s most powerful utility asset. Early participants can join simultaneously on MultiBank.io, the Group’s regulated crypto exchange, and Uniswap, the world’s leading decentralized platform. Supported by $29 billion in real assets and powered by over $35 billion in daily turnover, $MBG is engineered
Live Story Raises €2.7 Million to Revolutionize the Digital Experience11.7.2025 10:05:00 CEST | Press release
With a round led by Vertis, the next-generation CMS platform accelerates its focus onAI, performance, and European expansion. Target: surpass €10M in recurring revenueby 2027. Live Story, the tech company founded by Stefano Mocellini, has closed a €2.7 million seed round led by Vertis, one of Italy’s leading early-growth venture capital firms. The funding will support the company’s international expansion and technological development, with a clear goal: to exceed €10 million in annual recurringrevenue by 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250711335560/en/ “We invested in Live Story because it addresses one of the major inefficiencies in digital commerce: the slow and rigid management of visual and narrative content,” says Alessandro Pontari, Partner at Vertis SGR. “The platform helps brands drastically reduce their time-to-market through a visual CMS that integrates seamlessly with any tech stack. In a wor
With a Score of 84 out of 100, Sagemcom Is Awarded the EcoVadis Platinum Medal: a Prestigious Recognition of its CSR Commitment11.7.2025 09:00:00 CEST | Press release
Sagemcom Group is proud to announce that it has been awarded, for the third time, the Platinum Medal by EcoVadis, the highest distinction granted by the leading global platform for assessing Corporate Social Responsibility (CSR) performance. This medal places Sagemcom in the top 1% of companies evaluated worldwide, across all industries. With a score of 84 out of 100, Sagemcom reaffirms its position as a committed leader in ecological transition, business ethics, sustainable supply chain management, and social responsibility. “The EcoVadis Platinum Medal is more than just an award — it is the recognition of our collective efforts to embed sustainable development principles at the heart of our corporate strategy and culture,” says Sylvaine Couleur, Executive Vice President, CSR & Communication. “Achieving this level demonstrates that our commitments are tangible, impactful, and internationally recognized. This distinction strengthens our determination to further advance and expand our C
IEEE Standards Commitment to Advancing AI Governance Includes Impactful Contributions to New International AI Standards Exchange11.7.2025 08:00:00 CEST | Press release
IEEE, the world’s largest technical professional organization dedicated to advancing technology for humanity, and its IEEE Standards Association (IEEE SA) announced today that its portfolio of over 100 global AI-related standards is included in the new International AI Standards Exchange. This Exchange is a centralized repository of international AI standards with the aim to foster collaboration and responsible AI development worldwide. IEEE and its AI global standards were recognized in the 2024 United Nations AI Advisory Body’s Report, Governing AI for Humanity, which created the impetus for the AI Standards Exchange. Due to its impactful AI standards and related work, IEEE, a major standards body, was included as a partner in the establishment of the Exchange. IEEE President and CEO Kathleen Kramer, who is speaking at the AI for Good Summit this year at the High-Level AI Standards Panel,shares, “IEEE’s mission of advancing technology for the benefit of humanity is foundational to ou
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