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PharmaNova Fuels Business Growth with Lacerta Bio Partnership
Date:3/7/2011

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."

About PharmaNova

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
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SOURCE PharmaNova, Inc.
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