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NovaBiotics a step closer to licensing
NOVABIOTICS, a biotechnology firm spun out from Aberdeen University, yesterday revealed it was at an "advanced stage" in appointing a financial adviser to value its first drug.
The company, which raised 5 million from investors earlier this year, plans to licence the development of Novexatin – a treatment for nail fungal infections – or find a development partner.
NovaBiotics said yesterday that the first patients had successfully completed the phase IIa trial of Novexatin.
Founder Dr Deborah O'Neil said the drug had completed the trial with "no safety issues".
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Weather for Edinburgh
Sunday 27 May 2012
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