Novaliq GmbH Announces European Market Approval for NovaTears™ OTC
Novaliq GmbH, a drug delivery company with a focus on the topical application of ophthalmic technologies for poorly soluble drugs, today announced the successful CE mark approval for the first topical eye lubricant based on Novaliq's proprietary technology EyeSol™.
NovaTears™ OTC is a multi-dose, non-aqueous, non-blurring and preservative-free topical eye drop for lubrication of the ocular surface.
"We are pleased to receive CE mark approval for our first ophthalmic product designed to improve the quality of life for the dry eye OTC patient," said Bernhard Guenther, CEO of Novaliq GmbH. "It offers a significant new product choice for the European consumer; innovative Novaliq technology that contains no preservatives, yet is available in conventional, multi-dose bottles. The absence of irritating surfactants and preservatives provides dry eye patients improved tolerability and convenience."
This is the first new product from Novaliq GmbH since the company raised €13.9 million ($18.1 million) in its 5th round of financing in April 2013, funding the ongoing development of its ophthalmic portfolio which includes CyclASol Rx, the first planned Novaliq prescription product, as well as additional OTC products.
"We congratulate Novaliq on obtaining the CE mark for NovaTears OTC and look forward to future product additions to the SFA portfolio," commented Mathias Hothum, Managing Director of Dievini Hopp Bio Tech Holding GmbH & Co., the investment company of SAP established with co-founder Dietmar Hopp. "We are pleased to help Novaliq further its pioneering ocular drug delivery technology and strong management team."
Novaliq GmbH is a drug delivery company that is developing a superior generation of ocular formulations for poorly soluble drugs. The patented ocular formulations are based on semifluorinated alkanes (SFAs), which can be easily applied in the form of topical eye drops. A new generation of both prescription and consumer ocular products is possible through the unique and proprietary properties of SFAs as a delivery vehicle.
Novaliq's strategy is to establish a portfolio of consumer and prescription products in the field of ophthalmology. These products are intended to cover unmet needs with one major advantage being they will be preservative free.
Dievini is an active investor in Life and Health Sciences companies, with a focus on innovative therapeutics and diagnostics shown to lead to novel treatment regimens, allowing doctors to treat patients with life-threatening diseases better and safer than they can today.
About Novaliq GmbH
Novaliq is a drug delivery company whose goal is to develop innovative pharmaceutical formulations. Its patented semifluorinated alkanes (SFAs) can be used in various routes of administration for the transport of drugs or oxygen for therapeutic purposes. Based on its unique physicochemical properties, Novaliq currently develops innovative ophthalmic formulations as well as solutions for organ preservation and has several product candidates with excellent market potential in various stages of development.
Novaliq welcomes invitations from interested parties to enter into discussions about significant additional development or partnership opportunities.