TRI Cap Closes Investment Deal with NovaBiotics
TRI Cap members have invested £100,000 in NovaBiotics, a clinical-stage biotechnology company which was founded in 2004 and focuses on the design and development of antifungal and antibacterial therapeutics.
Chairman of TRI Cap, Rob Dick, commented: NovaBiotics is potentially a significant player in a substantial global marketplace and TRI Cap members are delighted to be involved in supporting its further development.”
The company has just announced successful completion of the first phase of a two part ‘first in man’ clinical trials for its lead product, Novexatin® (NP213), a brush-on treatment for fungal nail infection. A larger Phase IIa trial will now commence in which 48 patients will be dosed daily with Novexatin® over a 28 day period. Recruitment of patients for this trial is almost complete.
Dr Deborah O’Neil, Founder, commented: “This initial data provides the platform we expected in order for us to move on to assess the safety and pharmacodynamics of Novexatin in the anticipated 28 day daily dosing cycle. It is an important safety milestone and we’re very encouraged.”
For further information on NovaBiotics, visit http://www.novabiotics.co.uk
END
July 2009
Issued on behalf of TRI Cap by Prior PR.
For further information contact Eileen Prior on 01721 729322 or 07802 180 412, or email eileen.prior@priorpr.co.uk