Novan Obtains $45,100,000 New Funding
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=837ee60b-851e-4586-bc7e-30162ab09d36 - Date
9/21/2016 - Company Name
Novan - Mailing Address
4222 Emperor Boulevard Durham, NC 27703 USA - Company Description
Novan, Inc. (Nasdaq: NOVN) is a pharmaceutical company focused on redefining the standard of care in dermatology through the development and commercialization of innovative therapies using the Company’s nitric oxide platform. - Website
http://www.novantherapeutics.com - Transaction Type
IPO - Transaction Amount
$45,100,000 - Transaction Round
Undisclosed - Proceeds Purposes
We currently expect to use the net proceeds from this offering, together with existing cash, as follows: (i) approximately $29.0 million to fund the development of SB204 through NDA submission; (ii) approximately $3.0 million to fund platform expansion with Phase 2 trials for SB206 and SB208; and (iii) the balance to fund internal research and development expenses associated with SB414 and future product candidates and for working capital and general corporate purposes. - M&A Terms
