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®.”