Novaremed

Company Overview

Snapshot

Founded in September 2008 by Eliahu Kaplan, M.D., Novaremed operates with 1–10 employees. The company has raised $67.16 million across six funding rounds from three investors. In July 2022, Novaremed entered into an exclusive option and license agreement with NeuroFront for its non-opioid neuropathic pain treatment, NRD.E1, for Greater China and Singapore.

Business overview

Novaremed is a clinical-stage biopharmaceutical company focused on developing non-opioid treatment options for chronic pain. Its core product, NRD.E1, is an orally active small molecule with FDA Fast Track Designation, currently in a Phase 2b clinical trial for painful diabetic peripheral neuropathy. The company's pipeline also includes MP-101 for chemotherapy-induced peripheral neuropathy and MP-103 in preclinical stages. Novaremed aims to address high medical needs in pain management associated with diabetes and cancer, operating within the Health Tech & Life Sciences sector, specifically in Pharmaceuticals.

Strategic signal

In July 2022, Novaremed secured an exclusive option and license agreement with NeuroFront for its lead non-opioid neuropathic pain treatment, NRD.E1, covering Greater China and Singapore. This strategic partnership signals significant market expansion potential and validation of Novaremed's therapeutic pipeline, indicating a strong move towards global commercialization and addressing a broader patient population in key Asian markets.

Company Intelligence Q&A

What is Novaremed's lead product?

Novaremed's lead product is NRD.E1, an orally active non-opioid small molecule with FDA Fast Track Designation, currently in a Phase 2b clinical trial for the treatment of painful diabetic peripheral neuropathy.

When was Novaremed founded and by whom?

Novaremed was founded in September 2008 by Eliahu Kaplan, M.D.

Has Novaremed received any significant regulatory designations for its products?

Yes, in December 2020, Novaremed received Fast Track Designation from the FDA for NRD135S.E1 (NRD.E1) for the treatment of painful diabetic peripheral neuropathy.

What was a key strategic move for Novaremed in September 2021?

In September 2021, Novaremed expanded its pipeline of non-opioid treatment candidates for chronic pain indications through the acquisition of Metys Pharmaceuticals.

What was the outcome of Novaremed's Phase 1 and Phase 2a study data for NRD.E1?

In June 2022, Novaremed announced the publication of Phase 1 and Phase 2a study data for NRD.E1, demonstrating the potential of this investigational non-opioid pain treatment.