Novan spots investors for $30m

Dec 30, 2015 • Robert Lavine

Novan, which is planning to move its acne drug candidate into phase 3 trials next year, raised $50m in a Malin Corporation-backed round in March.

Novan Therapeutics, an acne treatment developer backed by life sciences company Malin Corporation, has raised $30.4m in new financing, according to Xconomy, which cited a regulatory filing.

Spun out of University of North Carolina at Chapel Hill and founded in 2006, Novan is developing an acne drug currently known as SB204.

The company revealed positive phase 2b clinical trial results for SB204 in September this year and is preparing to enter it in phase 3 trials in 2016. It is also working on a genital warts treatment called SB206.

Novan raised $50m in a March 2015 round featuring Malin, having previously secured $22.5m between 2009 and early 2014.

– This article was first published by our sister publication Global Corporate Venturing.

Novan, which is planning to move its acne drug candidate into phase 3 trials next year, raised $50m in a Malin Corporation-backed round in March.

Novan Therapeutics, an acne treatment developer backed by life sciences company Malin Corporation, has raised $30.4m in new financing, according to Xconomy, which cited a regulatory filing.

Spun out of University of North Carolina at Chapel Hill and founded in 2006, Novan is developing an acne drug currently known as SB204.

Novan raised $50m in a March 2015 round featuring Malin, having previously secured $22.5m between 2009 and early 2014.

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