Nuvo Research Inc. (TSX: NRI), a Canadian drug development company focused on the research and development of drug products that are delivered to and through the skin using its topical and transdermal drug delivery technologies, and on the development of its immune modulating drug candidate WF10, today announced a co-operative drug development project with the Fraunhofer Institute for Cell Therapy and Immunology IZI in Leipzig, Germany for the preclinical and clinical development of WF10 as a potential treatment for Allergic Rhinitis.
The Development Bank of Saxony in Germany ("SAB") announced in late August that it will provide financial support for this co-operative project that will be conducted in Leipzig, Germany through Nuvo Research GmbH, a Nuvo subsidiary. Discussions are ongoing with SAB about expanding its financial support to include preclinical and clinical development of WF10 as a potential treatment for Rheumatoid Arthritis.
"Teaming up with exceptional partners like the Fraunhofer Institute and the Development Bank of Saxony should accelerate WF10's preclinical and clinical development," said Henrich Guntermann, President and Chief Executive Officer of Nuvo Research. "This partnership provides Nuvo with financial support that will allow us to more effectively deploy our own resources to develop WF10 as a needed treatment for patients who suffer from allergies and related asthma."
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