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Novagali raises €15 million

This article was originally published in Scrip

Executive Summary

The French ophthalmology company Novagali Pharma has raised €15 million to develop its clinical programme and commercialise its first marketable product, Cationorm for dry eye symptoms, in France and abroad. The French company hopes to complete the US Phase I study for Cortiject, an injectable emulsion which releases a corticosteroid prodrug for the treatment of diabetic macular oedema, in the third quarter (Scrip Online, April 25th, 2008). Cyclokat, a ciclosporin A treatment for moderate to severe dry eye, is in Phase III trials in Europe and about to enter a similar study in the US.

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