Novaliq GmbH won European approval for its lubricating, drug-delivering eye drop NovaTears, designed for over-the-counter treatment of dry eye.
The eye drop makes use of Novaliq's semifluorinated alkanes, or SFA, delivery platform, which acts as an alternative to water for dissolution and dispersion in the eye and improves drug stability.
The multidose, nonaqueous, nonblurring NovaTears is preservative-free, which, according to the company, falls in line with one of its major marketing strategies. Dietmar Hopp's Dievini Hopp Bio Tech Holding investment company was the exclusive financial supporter.
"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 Novaliq CEO Bernhard Guenther. "It offers a significant new product choice for the European customer; 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."
The CE mark represents the first for the German company since raising $18.1 million in its 5th round of financing in April this year and $35.2 million total from Dievini, which includes support for its first prescription product, CyclASol Rx, and other over-the-counter drugs.
- here's the release