Novan Therapeutics is a privately-held, clinical-stage biotechnology company advancing potentially best-in-class therapies using drugable nitric oxide with an initial focus on skin diseases. The company's patented Nitricil™ technology stably stores nitric oxide as a solid to enable targeted topical therapeutics. Novan's lead program, SB204, is a late-stage investigational treatment for acne vulgaris; clinical studies to date suggest it may be well-tolerated with a rapid onset of action, and the company expected to complete its Phase 2b study in summer 2015 and target Phase 3 by Q1 2016. A second program, SB206, is a topical antiviral intended to treat external genital warts and was expected to enter a Phase 2 trial in Q2 2015. Financially, Novan secured an oversubscribed $50 million private financing that closed March 27, 2015, with Malin Corporation Plc. as the cornerstone investor and participation from existing private investors in the Research Triangle. The company stated the funds will support advancement toward commercialization and selective expansion of its clinical pipeline. Novan is a start-up developing nitric oxide technology as an antimicrobial platform for medical uses. The company is working to convert its nitric oxide approach into bacteria-fighting tools for coating catheters to help prevent hospital-acquired infections. Novan has also pursued grant-funded studies of an antimicrobial wound dressing. Its near-term product focus, as described in the article, is antimicrobial catheter coatings and wound-care applications. Financially, the company raised $6 million in financing to support these development efforts and has supplemented that with grant support. The article frames Novan’s work within broader industry efforts to reduce healthcare-associated infections.

Total raised

$56M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2015