France-based Novagali Pharma has raised €15 million in a new financing round. The company did not list investors who contributed to the round, but said that previous investors participated. Novagali, which specializes in ophthalmology, will use the funding to commercialize it's first product, Cationorm, which treats dry eye symptoms. The company is also developing several other drugs, including Vekacia for vernal keratoconjunctivitis, Cyclokat for dry eye, Nova21027 for Glaucoma, and Cortiject for diabetic macular edema. In particular, some of the money will go to a phase III trial of Cyclokat as well as a Phase I trial of Cortiject.
"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," said Jerome Martinez, CEO of Novagali.
- take a look at Novagali's release
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