Novaremed Overview
Novaremed, a privately held clinical-stage biopharmaceutical company, is developing effective and safe treatment options for managing chronic pain as an alternative to opioids. The company's lead product is NRD.E1, an orally active non-opioid small molecule with a novel mechanism of action, FDA Fast Track Designation, and IND-approval to proceed with a Phase 2b clinical trial for the treatment of painful diabetic peripheral neuropathy. The earlier stage pipeline addressing chronic pain includes candidates MP-101 (Phase 2 stage), targeting prevention and treatment of chemotherapy-induced peripheral neuropathy; and MP-103 (preclinical stage). Novaremed's clinical development portfolio aims to satisfy high medical patient needs and societal demands by alleviating the burden of pain associated with diabetes and cancer for patients and countering over-reliance on addictive treatments. Novaremed Ltd (Israel) and Metys Pharmaceuticals AG (Switzerland) are fully owned subsidiaries of Novaremed AG, domiciled in Basel (Switzerland).
Cumulative Funding Raised Over Time ($)
$4.5MApr 2018
$10.5MAug 2018
$60.5MFeb 2021
$63.2MSep 2019
$65.9MSep 2020
Latest News
Novaremed Enters Into an Exclusive Option and License Agreement With NeuroFront for the Non-opioid Neuropathic Pain Treatment, NRD.E1, for Greater China and Singapore
Novaremed Announces Publication of Phase 1 and Phase 2a Study Data With NRD.E1 Demonstrating the Potential of This Investigational Non-opioid Pain Treatment
growth-positive
Novaremed's lead molecule enters Phase2b trials
The National Institutes of Health (NIH) will sponsor and conduct a clinical Phase 2b study with Novaremed’s lead non-opioid development compound NRD.E1 in the treatment of painful diabetic peripheral neuropathy (PDPN). The trial builds on Phase 2a proof-of-concept study in PDPN, which showed a clinically relevant reduction in patient-reported pain and good tolerability of NRD.E1.
PartnersInvestment
Novaremed Expands its Pipeline of Non-opioid Treatment Candidates for Chronic Pain Indications Through Acquisition of Metys Pharmaceuticals
growth-positive
Novaremed Secures US$50M - FinSMEs
Novaremed, a clinical-stage biopharmaceutical company, has secured a US$50 million capital commitment from GEM Global Yield LLC SCS. The funding will be used to progress the clinical development of Novaremeds lead product for the treatment of painful diabetic peripheral neuropathy. Novaremed was founded in 2008 in Israel and aims to become a leader in innovative treatment options for chronic pain.
Investment
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $67.16M |
| Last funding | $50M |
| Stage | A |
| Rounds | 6 |
| Investors | 3 |
Team Members
4
Employees: 1-10
Web & Social Links
| Website | www.novaremed.com |
Locations
HaSivim Street 24, Petah Tikva, Israel
Teichgaesslein 9, 4058 Basel
Photos & Videos
No files yet
Novaremed Business
Business models
B2B
Product stage
Clinical Trial
Employees
1-10
Sector
Health Tech & Life SciencesPharma & Medical BiotechnologyDrugs Discovery & DevelopmentTarget Customer
Healthcare & Life SciencesLife SciencesPharmaceuticalsCore Technology
BiologicalsMoleculesTags (5)
pain-reliefpharmaceuticalschronic-paindiabetesoral-drugsGeographic Markets
SwitzerlandUnited StatesEuropeNovaremed Financials
$67.16M
Total funding
Undisclosed
Capital raised
$50M
Last funding
A
Funding stage
6
Total rounds
3
Investors
Cumulative Funding Raised Over Time ($)
$4.5MApr 2018
$10.5MAug 2018
$60.5MFeb 2021
$63.2MSep 2019
$65.9MSep 2020
Private Equity Funding
Undisclosed Round
Feb 2021
$50M
GEM Global Yield LLC
Undisclosed Round
Sep 2020
$2.7M
Shareholders
Undisclosed Round
Sep 2019
$2.66M
Undisclosed Investor(s)
A Round
Aug 2018
$6M
A Round
Apr 2018
$4.5M
Non-Equity Funding
GrantEvent
Nov 2008
$1.3M
Mergers & Acquisitions
MNAEvent
Sep 2021
Undisclosed
Novaremed Lifecycle
Cumulative Funding Raised Over Time
$4.5MApr 2018
$10.5MAug 2018
$60.5MFeb 2021
$63.2MSep 2019
$65.9MSep 2020
All Events
Undisclosed Round
Feb 2021
$50M
GEM Global Yield LLC
Undisclosed Round
Sep 2020
$2.7M
Shareholders
Undisclosed Round
Sep 2019
$2.66M
Undisclosed Investor(s)
A Round
Aug 2018
$6M
A Round
Apr 2018
$4.5M
GrantEvent
Nov 2008
$1.3M
MNAEvent
Sep 2021
Undisclosed
Novaremed News
16 articlesNovaremed Enters Into an Exclusive Option and License Agreement With NeuroFront for the Non-opioid Neuropathic Pain Treatment, NRD.E1, for Greater China and Singapore
Novaremed Announces Publication of Phase 1 and Phase 2a Study Data With NRD.E1 Demonstrating the Potential of This Investigational Non-opioid Pain Treatment
growth-positive
Novaremed's lead molecule enters Phase2b trials
The National Institutes of Health (NIH) will sponsor and conduct a clinical Phase 2b study with Novaremed’s lead non-opioid development compound NRD.E1 in the treatment of painful diabetic peripheral neuropathy (PDPN). The trial builds on Phase 2a proof-of-concept study in PDPN, which showed a clinically relevant reduction in patient-reported pain and good tolerability of NRD.E1.
PartnersInvestment
Novaremed Expands its Pipeline of Non-opioid Treatment Candidates for Chronic Pain Indications Through Acquisition of Metys Pharmaceuticals
growth-positive
Novaremed Secures US$50M - FinSMEs
Novaremed, a clinical-stage biopharmaceutical company, has secured a US$50 million capital commitment from GEM Global Yield LLC SCS. The funding will be used to progress the clinical development of Novaremeds lead product for the treatment of painful diabetic peripheral neuropathy. Novaremed was founded in 2008 in Israel and aims to become a leader in innovative treatment options for chronic pain.
Investment
Novaremed Receives Fast Track Designation from the FDA for NRD135S.E1 for the Treatment of Painful Diabetic Peripheral Neuropathy
growth-positive
Novaremed Announces Closing of a New Financing, Publication of PCT Patent Application and Participation at IASP Virtual Conference on Pain & Expo BioSpace
Novaremed AG has raised CHF2.5 million in an oversubscribed financing round, bringing the total financing raised by the company to CHF23.5 million. The funds will be used to prepare for a Phase 2b clinical study in the US for its drug candidate, NRD135S.E1, for the treatment of Painful Diabetic Peripheral Neuropathy. The company has also published a PCT patent application for a targeted therapy to treat pain and inflammation. Novaremed is participating in a virtual conference on pain and its Phase 2a study results have been accepted for the virtual poster gallery.
Investment
Novaremed Announces U.S. FDA Approval of IND Application to Initiate Phase 2 Clinical Study of NRD135S.E1 for the Treatment of Painful Diabetic Peripheral Neuropathy
Novaremed Secures Additional Financing and Strengthens Leadership
growth-negative
Novaremed Announces Management Changes
Novaremed AG, a Swiss biopharmaceutical company, announced that Dr. Nicholas Draeger has decided to step down as CEO and member of the Board of Directors. He will serve as a senior advisor to Novaremed to ensure a smooth leadership transition. The search for a full-time successor to Dr. Draeger has been initiated. In the interim, Mr. Subhasis Roy, COO, and Dr. Sara Mangialaio, CMO and Head of R&D, will be assuming responsibilities for the company’s day to day operations and all clinical development work, respectively.
Management Changes
growth-positive
Novaremed Presents Top-Line Results from Phase 2a Diabetic Neuropathic Pain Study of NRD.E1 at NeuPSIG 2019 BioSpace
Novaremed AG, a clinical-stage Swiss biopharmaceutical company, announced the top-line results from a Phase 2a study of NRD.E1 for the treatment of diabetic neuropathic pain. The study showed clinically relevant treatment benefits and provides a strong scientific foundation for the upcoming Phase 2b study. Novaremed is developing NRD.E1, an orally-active small molecule, and is preparing for a global Phase 2b study expected to start in Q4 2019.
Customers
Nicholas Draeger Named New CEO of Novaremed AG
growth-positive
Novaremed gets closer to ambition
Novaremed AG, a clinical-stage biopharmaceutical company based in Basel, is preparing for global phase 2b clinical trials of its novel treatment for diabetic neuropathic pain. Diabetes is the leading cause of neuropathy, and a significant number of diabetic patients suffer from chronic, debilitating pain. Novaremeds lead compound, NRD.E1, has shown promising results in reducing patient-reported pain in a clinical study. To fund further studies, the company has raised CHF 6 million from existing shareholders and new private investors, in addition to the CHF 4.44 million raised earlier. The investment reflects the potential seen in Novaremed and its lead program in diabetic neuropathic pain.
Investment
Novaremed announces that it has raised CHF 6 million to prepare for a Phase 2b clinical study in Diabetic Neuropathic Pain
growth-positive
Novaramed - Novel medication for neuropathic pain
Novaremed, an Israeli pharmaceutical company, is developing a treatment for neuropathic pain caused by nervous system damage. Neuropathic pain is a global health issue, and Novaremeds proposed treatment, NRD.E1, has the potential to bring relief to a large population suffering from this problem. The company successfully completed a phase 2a study in June 2016 and is now planning a phase 2b study to test the effectiveness of NRD.E1. If proven effective, this medical breakthrough could have a significant impact on the companys growth. The article highlights the rising incidences of neuropathic pain due to an aging population, diabetes, and shingles, and the high cost associated with chronic pain in the US.
InvestmentExpand
growth-positive
Pain treatment co Novaremed joins Ashkelon incubator
Biomedix Incubator Ltd.s subsidiary, Ashkelon Technological Industries, is investing NIS 2.38 million in start-up Novaremed Ltd. and will own 35% of the firm. The investment is partially funded by the Office of the Chief Scientist. Novaremed is developing NEB74S, a small molecule for chronic pain treatment. The chronic pain treatment market is expected to reach $24 billion in revenue by 2016.
Investment
Novaremed Team
Employee Info
| Employees (range) | 1-10 |
| Exact count | 10 |
| Team members | 4 |
Similar Companies
Similar companies data is computed dynamically and not stored in the entity profile. This section requires implementing a similarity query (e.g. by classification overlap, sector, district).
This entity has 8 classification IDs that could be used for matching.
Novaremed Internal
Recent Updates
No update log entries.
Note: Free-text notes visible in the original Finder "Internal" tab are not present in the imported profile data. Only the update audit log is available.
Admin Info
| Confidence | 97/100 |
| Missing | video or image, markets |
| BI Verification | Natalia Golczar |
| Registrar ID | 514185891 |
| Crunchbase | novaremed-ag |
| Creator | Yamila Silbert |
| Creator email | yamila.urwicz@gmail.com |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2022-12-14T00:00:00.000Z |
| Created | 2015-01-14T00:00:00.000Z |
| Claimed | Yes |