A Vancouver-based company has attracted venture capital for its flagship project, a nitric oxide nasal spray shown in clinical studies to treat and prevent Covid-19 infection, including a recent Phase 3 study published in The Lancet Regional Health Southeast Asia.
SaNOtize Research & Development Corp. announced recently that it raised an oversubscribed $24 million Series B funding to advance its nitric oxide-based therapeutics pipeline. The new funding round was co-led by Horizons Ventures and OurCrowd with participation from ABC International.
The capital allows SaNOtize to bolster its research program, including the recruiting of more study participants in Canada.
“We are thrilled to embark on these new partnerships, as they empower SaNOtize to accelerate its research program in various therapeutic fields and expand our Phase 3 NONS COVID-19 trial to additional countries,” said Gilly Regev, PhD, who cofounded SaNOtize. “Our clinical and observational studies found NONS to be safe and effective at both treating and preventing COVID-19, even amid delta and omicron surges.”
In SaNOtize’s clinical studies, NONS has been shown to rapidly reduce viral load in those with COVID-19 and decrease the risk of infection after known exposure.
In a recent Phase 3 study, NONS shortened the time to negative PCR and demonstrated a reduction in SARS-CoV-2 viral burden in high-risk COVID-19 patients by 94% and 99% within 24 and 48 hours of treatment, respectively.
“We look forward to expanding our clinical research and working toward regulatory approval in the United States and Canada,” said Regev.
SaNOtize was founded in 2017 by Dr. Regev and Chief Scientific Officer Chris Miller, PhD. Regev and Miller had the aim back then to leverage the antimicrobial properties of nitric oxide, a naturally occurring molecule known to have antibacterial, antifungal, and antiviral properties.
“We are delighted to participate in this important funding round for SaNOtize, whose breakthrough antiviral nasal spray continues to gain traction globally as the clinical results mount and NONS gains regulatory approval in more countries, as it is here in Israel,” stated OurCrowd CEO Jon Medved. “Almost every week a colleague or collaborator in the field brings up the significant global unmet need and we acknowledge together the potential NONS has in protecting communities across the world from COVID-19.”
NONS is currently sold as a medical device in countries such as Thailand Singapore, Indonesia, and Israel.
Prior to NONS, the BC company developed proprietary technology, Nitric Oxide Releasing Solutions or NORS, to deliver NO at an effective dose across multiple therapeutic applications, including sprays, baths, lavages, gels, and creams.