Rowett spin-out NovaBiotics Enters into Agreement with Taro

NovaBiotics Ltd - the Aberdeen-based clinical-stage biotechnology company originally spun out of the Rowett Institute of Nutrition and Health, now part of the University of Aberdeen - today announced that it has entered into an exclusive agreement with Taro Pharmaceuticals North America, Inc. to licence and co-develop Novexatin®, NovaBiotics' first-in-class antifungal peptide treatment for fungal nail infections.

Novexatin® is an investigational drug that is expected to enter a multi-centre Phase IIb study for mild-to-moderate onychomycosis in the US.   NovaBiotics and Taro will jointly manage the study and other development activities for Novexatin®, with Taro as lead partner in the programme.

Dr. Deborah O’Neil, CEO and Scientific Officer of NovaBiotics, said: "Novexatin® is an antifungal technology that has the potential to positively affect the onychomycosis space with the key advantage of delivering results within a short treatment period of 28 days. As a leader in dermatology, Taro is an excellent fit for NovaBiotics and our ambitions for Novexatin®."