NovaBiotics Enters into Agreement with Taro
News Aug 29, 2013
NovaBiotics Ltd has announced that it has entered into an exclusive agreement with Taro Pharmaceuticals North America, Inc. (“Taro”) to license and co-develop Novexatin®, the Company’s first-in-class antifungal peptide treatment for fungal nail infections.
Novexatin® is an investigational drug that is expected to enter a multi-centre Phase IIb study for mild-to-moderate onychomycosis in the US.
NovaBiotics and Taro will jointly manage the study and other development activities for Novexatin®, with Taro as lead partner in the programme.
Dr. Deborah O’Neil, CEO and Scientific Officer of NovaBiotics, commented: “Novexatin® is an antifungal technology that has the potential to positively affect the onychomycosis space with the key advantage of delivering results within a short treatment period of 28 days. As a leader in dermatology, Taro is an excellent fit for NovaBiotics and our ambitions for Novexatin®.”