Time-Sensitive Investment Opportunity: SaNOtize
Top-tier VC invests $10M in virus-killing spray
- SaNOtize's nitric oxide-based virus-killing spray is sold in 10 countries, registered as a class I medical device in the EU, and has ongoing approval procedures in other jurisdictions
- Top-tier global VC fund joins round with $10M investment
- The Lancet Regional Health Southeast Asia published successful Phase 3 clinical trial results proving that adult Covid-19 patients using spray demonstrated reductions of viral load of 94% in 24 hours and 99% in 48 hours
- Granted regulatory approval in India following Phase 3 Covid treatment study with Indian partner Glenmark Pharmaceuticals
- Platform to treat microbial infections; clinical stage pipeline including treatments for sinusitis and diabetic foot ulcer in Phase 2 trials
- Up to $21M Series B round plus a $5M SAFE converting into the round
- Time-sensitive opportunity: OurCrowd has secured an additional $1M allocation, available only until August 12th, 2022
Dear Josb,
Clinical trials around the world have shown that the nitric oxide-based nasal spray produced by OurCrowd portfolio company SaNOtize is safe and highly effective in early treatment of patients with Covid-19. OurCrowd is reinvesting in SaNOtize. The details in this email are based on information received from, and verified solely by, the company.
The Problem
Since the coronavirus pandemic began in early 2020, the world has been searching for effective protection against Covid-19. Existing vaccines are in short supply outside the developed world, require regular booster shots, must be kept at very low temperatures, making distribution expensive, and they must be administered by medical professionals.
The Solution
SaNOtize, an OurCrowd portfolio company based in Canada, has succeeded in harnessing nitric oxide - a harmless, naturally occurring molecule with proven antimicrobial properties - in a simple nasal spray that anyone can use. Nitric oxide is one of the few novel therapeutic treatments, outside of expensive monoclonal antibodies, that is proven to reduce the viral load of SARS-CoV-2, the virus that causes Covid-19. It is also effective against the flu and other viruses and microbes.
The Lancet Publication
In January 2022, SaNOtize completed a Phase 3 Covid treatment study with Indian partner, Glenmark Pharmaceuticals and received regulatory approval in India. This approval in India is extremely significant as it represents the first approval of nitric oxide as an antiviral/antimicrobial treatment in the world. The results of this study were published by The Lancet, a prestigious peer-reviewed medical journal, in its Regional Health Southeast Asia edition.
Traction
SaNOtize currently has approvals to sell its antiviral spray in Israel, Indonesia, India, Singapore, Hong Kong, Nepal, Thailand, Bahrain, the EU, and South Africa. Submissions to local regulators have been made in Mexico, Philippines, Vietnam, Myanmar, Malesia, and Taiwan. The company is also in ongoing dialogue with additional global regulatory bodies, including the Medicines and Healthcare products Regulatory Agency for Exceptional Use Authorization in the UK, the Ministry of Health, Labor and Welfare in Japan, and the Food and Drug Administration in the USA.
SaNOtize initiated dialogue with the FDA to further advance its US approval roadmap, which was very positive. In parallel, the company was invited to submit a full application to the US Department of Defense for $15M-$20M funding of its proposed Phase 3 US Covid trial.
Additional Indications
The company's Phase 2 clinical trial in chronic sinusitis, an indication reflecting a $3B market, has been completed with top-line results expected by August 2022. The company's Phase 2 diabetic foot ulcer trial is ongoing and has enrolled over 75% of its targeted patients. Enrollment is expected to be completed by the end of 2022.
The Round
A top-tier global VC fund is investing $10M in this up to $21M Series B round plus a $5M SAFE converting into the round. Funds from the round will be used to ramp up production and distribution of SaNOtize's lifesaving nasal spray.
Limited Opportunity
This is a time-sensitive opportunity. OurCrowd has secured an additional $1M allocation in this round. If you wish to participate, signed documents and funds must be received by OurCrowd no later than Friday, August 12th, 2022.
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