Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=837ee60b-851e-4586-bc7e-30162ab09d36
Date 9/21/2016
Company Name Novan
Mailing Address 4222 Emperor Boulevard Durham, NC 27703 USA
Company Description Novan, Inc. (Nasdaq: NOVN) is a pharmaceutical company focused on redefining the standard of care in dermatology through the development and commercialization of innovative therapies using the Company’s nitric oxide platform.
Proceeds Purposes We currently expect to use the net proceeds from this offering, together with existing cash, as follows: (i) approximately $29.0 million to fund the development of SB204 through NDA submission; (ii) approximately $3.0 million to fund platform expansion with Phase 2 trials for SB206 and SB208; and (iii) the balance to fund internal research and development expenses associated with SB414 and future product candidates and for working capital and general corporate purposes.