New financing round for dry eye portfolio

Novaliq has secured €13.9 million in a fifth round of financing for a dry eye portfolio.

Exclusive financing was obtained from Dievini Hopp, an active investor in life and health sciences. The funds will be used to progress the pharmaceutical project CyclASol into clinical development. Since 2007 the firm has raised €27.1 million for the dry eye treatment portfolio.

Dievini Hopp Managing Director, Mathias Hothum, stated, "Novaliq is an entirely new class of topical drugs for ophthalmic indications, including dry eye, which have the capability to offer compelling alternatives to current products. We are delighted to invest further in Novaliq, with its pioneering ocular drug delivery technology and strong management team."

Bernhard Günther, CEO of Novaliq, commented, "We are pleased about the ongoing confidence and support from our investor in order to systematically develop the company with our technology platform. Our leading prescription product, CyclASol, is the first Cyclosporine A solution for dry eye disease, while other products are based on emulsions, containing potentially irritating surfactants."