Novan Receives Phase 2 NIH Federal Grant of Approximately $1.0 Million
Novan, Inc. (NOVN)
Last novan, inc. earnings: 11/12 04:23 pm
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Source: GlobeNewswire
Provides funds to evaluate the mechanistic antiviral activity of WH602Novan to progress IND-enabling toxicology and pharmacology studies for WH602 Grant is additive to $223,000 Phase 1 NIH grant received in August 2019Women’s health initiative focused on potential HPV related onco-virus therapeutics MORRISVILLE, N.C., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (Nasdaq:NOVN) today announced that the Company has received approximately $1.0 million funding from the National Institutes of Health (NIH) to cover the first year of a two-year Phase 2 federal grant. Novan is eligible to receive approximately $500,000 of additional funding for the second year, subject to availability of NIH funds and satisfactory progress of the project. This grant is additive to the approximately $223,000 Phase 1 NIH grant received in August 2019. The grant will provide reimbursement for certain project expenses related to the advancement of WH602, a central focus of Novan’s w
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