VICTOR, N.Y., March 7, 2011 /PRNewswire/ -- PharmaNova, Inc. (PharmaNova) announces an agreement with Lacerta Bio, Inc. whereby Lacerta Bio's experienced team of business development professionals will supplement PharmaNova's team in the U.S. and U.K. to support its 2011 business growth and expansion initiatives. Emphasis will be on widening PharmaNova's partnering base for its innovative, nanoparticle technology, NovaSperse(SM), including existing NovaSperse(SM) new product opportunities and other projects that are available from PharmaNova for licensing and further development by third parties.
"We are delighted to be working with Lacerta Bio," said Rodney Brown, President of PharmaNova. "We have known both of the Lacerta Bio Managing Partners for several years, and are confident that working together, we can rapidly expand both our out-licensing and Fee-For-Service initiatives."
NovaSperse(SM), PharmaNova's proprietary, high drug load nanoparticle technology, utilizes minimal excipients and does not require complex equipment or processes. The NovaSperse(SM) process can be used to improve the solubility and enhance the delivery and pharmacokinetic properties of formulations in ophthalmics, dermatology, parenterals, and for other routes of administration.
"We have followed the progress made by PharmaNova over the past few years," said Dr. Anand R. Baichwal, Managing Partner of Lacerta Bio. "The NovaSperse(SM) technology is an excellent approach for rapidly developing new formulations with real therapeutic benefits, and we are excited to be a part of it."
PharmaNova is a privately held pharmaceutical company, which sub-licenses cutting-edge drug technology with its pioneering origins at the University of Rochester, and which develops and partners valuable new products to address underserved medical needs. Our products are created by re-positioning and enhancing the properties of known drugs using our proprietary NovaSperse(SM) nanoparticle drug delivery technology. A major additional component of our business is contractual formulation development work applying NovaSperse(SM) technology to support the repositioning and enhancement of client-owned products and compounds.
For more information, please visit http://www.pharmanovaco.com or contact Rodney A. Brown, President, PharmaNova, Inc. at +1-585-413-4721.
About Lacerta Bio
Lacerta Bio, Inc. is a business development and licensing consultancy for life sciences and other healthcare-related companies. Located in New York, Lacerta Bio assists life sciences companies and their investors identify, assess, and execute business development and licensing opportunities. The company also provides consulting on market opportunity assessments, competitive intelligence, pipeline analysis, interim business development management, and business plan and presentation development.
For more information, please visit http://www.lacertabio.com or contact Lacerta Bio, Inc. at +1 718 395 9371.
SOURCE PharmaNova, Inc.