NervGen Pharma announced this month that it has completed its initial public offering (IPO) and is now listed on Canada’s TSX Venture Exchange (TSX-V). This regenerative medicine company creates innovative solutions for the treatment of nerve damage. The company raised $7.5 million USD ($10 million Canadian), and the proceeds of the IPO will be directed primarily to advancing NervGen’s lead compound NVG-291 toward clinical development for the treatment of spinal cord injuries.
The technology was licensed from Case Western Reserve University in June 2018. BioEnterprise Executive-in-Residence Brad Lang co-invented NVG-291 while he was a graduate student in the lab of co-inventor Jerry Silver, a professor of neurosciences at the CWRU School of Medicine. Both Lang and Silver will remain as acting advisers for NervGen. The company plans to complete required pre-clinical, nonhuman studies this year and to meet with the U.S. Food and Drug Administration to review its plans to submit an Investigational New Drug application, under which the company plans to initiate a clinical trial for NVG-291 beginning next year.
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