Novan Obtains $45,100,000 New Funding

  • Feed Type
  • 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

Trending on Xconomy