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NovaBiotics Enters into Agreement with Taro
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®.”
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