Virpax Pharmaceuticals has established a wholly-owned subsidiary named Novvae Pharmaceuticals, dedicated to advancing its over-the-counter (OTC) product pipeline. This move allows Virpax to focus on its prescription product development, including Probudur™ and Envelta™. Novvae’s first asset, AnQlar™, is a prophylactic antiviral nasal spray with 24-hour activity against Influenza and Covid in preclinical studies. Virpax is also in negotiations for global rights on two non-prescription assets, potentially expanding Novvae’s portfolio.
Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced that it has formed a new wholly-owned subsidiary, Novvae™ Pharmaceuticals, Inc. (Novvae), which has been established to focus exclusively on advancing Virpax’s OTC pipeline.
“The formation of Novvae allows Virpax to focus exclusively on the development of its Rx product pipeline as we advance our lead product candidate, Probudur™ and prepare to enter Phase 2 human clinical trials in 2024. We are also looking to advance Envelta™ and expect to enter Phase 1 human clinical trials next year,” commented Anthony P. Mack, Chairman and CEO of Virpax Pharmaceuticals.
AnQlar™ will be the first asset added to the Novvae pipeline. AnQlar is being developed as a prophylactic once-a-day antiviral nasal spray. AnQlar utilizes a pre-filled intranasal device that is formulated using a chitosan derivative in a nanoparticle dispersion. Chitosan is a natural anti-microbial. In several preclinical studies, AnQlar demonstrated 24-hour anti-viral barrier activity against both Influenza and Covid. AnQlar has completed IND-enabling studies and Novvae will assume responsibility for future development leading to its first in human trials.
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Additionally, Virpax is in advanced discussions for global rights of first refusal on two differentiated non-prescription assets. Should the Company acquire these product candidates, they would be added to the Novvae pipeline.
Source: BioSpace
