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Novactyl, Inc. Engages Madison Keats(TM) To Assist In Identifying A Licensing Partner For Their Phase II Acne Vulgaris Compound


10/19/2005 5:09:23 PM

ST. LOUIS, Dec. 4 /PRNewswire/ -- Novactyl, Inc., a biopharmaceutical company developing anti-viral and anti-bacterial medicines, announced today that it has engaged the investment banking firm of Madison Keats to assist in evaluating potential partnering strategies for the Company.

Partnering efforts will be centered around the identification of a licensing partner for their Phase II Acne Vulgaris compound, PCL-016. Novactyl's lead drug candidate has been shown to exhibit broad anti-viral and immuno-modulatory activity by targeting Zinc Finger Proteins. PCL-016 has been shown to be active against P. acnes, the bacteria involved in the development of acne vulgaris. Novactyl has an active Investigational New Drug application with the FDA for the evaluation of PCL-016 in the treatment of mild to moderate acne. Phase II clinical testing of PCL-016 on acne patients was started in 2002.

"We have engaged Madison Keats due to their specialization in the Global Life Sciences arena and their ability to both evaluate our technology portfolio and assist us in maximizing the value of that portfolio," stated Raymond Zipprich, Novactyl's S.V.P. and CFO.

About Novactyl, Inc.

Novactyl, Inc., based in St. Louis, Missouri, is a privately-held pharmaceutical company dedicated to the discovery, development and commercialization of innovative small molecule products targeting Zinc Finger Proteins to combat various infectious and proliferative disorders. Novactyl's proprietary platform is based on a family of small molecule compounds called pyridine carboxylates. Certain pyridine carboxylates have been shown to disrupt Zinc Finger Proteins (ZFP), which are essential proteins involved in various infectious and proliferative disorders. Potential therapeutic applications are expected in virology, dermatology and oncology. For more information regarding Novactyl, Inc. visit http://www.novactyl.com/ or e-mail Mr. Michael Geranen at mgeranen@madisonkeats.com .

About Madison Keats

Madison Keats is a life science investment bank. The firm provides advisory services and focuses on orchestrating technology licensing, creative financing, and mergers and acquisitions. Madison Keats works exclusively within the life sciences industry. Headquartered in Charlotte, North Carolina, the firm is strategically situated in the second largest banking center in the U.S. and within close proximity to Research Triangle Park in North Carolina. For additional information, please visit http://www.madisonkeats.com/ .

Novactyl, Inc.

CONTACT: Michael G. Douglas, President and CEO of Novactyl,+1-314-991-3890, or Kendra Klemme for Novactyl, Inc., +1-612-337-0087


Read at BioSpace.com

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