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Venture Challenge winner SeraNovo enters into license agreement with Carna Biosciences

SeraNovo, winner of the Venture Challenge Fall 2018, has signed a License Agreement with Carna Biosciences, a company engaged in drug development specializing in the development of kinase inhibitors. Under the agreement, the companies will expand their existing collaboration and jointly continue to develop an oral formulation with an increased bioavailability for auto-immune diseases. Utilizing its proprietary Deep Eutectic Solvent (DES) formulation platform, SeraNovo is formulating Carna’s proprietary drug to increase its oral bioavailability. This advanced formulation enables the drug to progress into the clinical phase of development. The DES formulation platform is based on constituents that are for oral administration or broadly used in the industry. The final formulation includes an optimized combination of a DES, one or more polymeric precipitation inhibitors and Carna’s leading BTK inhibitor AS-0871.

Niall Hodgins, Chief Executive Officer of SeraNovo commented: “We are very excited that we have set up this important partnership with Carna Biosciences. We are confident this is just the first step in a long and fruitful partnership with an industry leader. As a startup company, this partnership represents excellent validation for our breakthrough formulation technology.

Source: SeraNovo (press release)