The company said that it will use the proceeds to continue development of its high potential projects: the commercialization in France and abroad of its first marketable product, Cationorm, indicated for the treatment of dry eye symptoms; and the development of its flagship products – Vekacia (vernal keratoconjunctivitis), Cyclokat (dry eye), Nova21027 (glaucoma) and Cortiject (diabetic macular edema).
Jerome Martinez, Novagali Pharma’s CEO, said: “The total amount of this fund rising strengthens once again our investors confidence to our development strategy, our products and our technological approach. This new source of financing will help us to carry on our company development.”