Novaliq GmbH, a drug delivery company focusing on difficult to dissolve substances for ophthalmic and dermatological applications, announced the conclusion of a round of financing talks resulting in €3.9 million.
Since initial financing in 2007, the company has been able to collect funding amounting to a total of 13.2 million Euros in four rounds of financing talks. The sole investor is once again the investment company of SAP co-founder Dietmar Hopp, dievini Hopp Bio Tech holding GmbH & Co. KG. With the fresh capital, the company plans to take its lead projects far into the clinical development phase.
"We are very pleased indeed about the continued confidence shown by our investor to ensure our liquidity until 2013", said Bernhard Günther, Managing Director of Novaliq. "By then, we expect to successfully conclude a clinical Phase II proof-of-concept study with our main project "CyclAsol". In addition, other ophthalmic formulations are to enter the clinical study stage during this period".
Novaliq is a drug delivery company that develops innovative pharmaceutical formulations. Novaliq's patented semifluorinated alkanes (SFAs) can be used in different forms of application to transport drugs and oxygen for therapeutic purposes. Apart from ophthalmic and dermatological formulations, Novaliq is currently developing oxygen carriers for organ conservation and has a number of product candidates with excellent market potential in preclinical and clinical stages of development.