Novalar acquisition

SAN DIEGO, California--Novalar Pharmaceuticals, a dental specialty pharmaceutical company, has announced entering into an agreement with Septodont for the acquisition of OraVerse, Novalar's first-in-class local anesthesia reversal agent.

To read more about Novalar, go to Novalar.

Under the terms of the agreement, Septodont will take over sales, marketing, and regulatory responsibilities for Septodont North American and unpartnered international markets. In consideration of the purchase agreement, Septodont will pay Novalar and its investors an upfront payment in addition to milestones and royalties on product sales. Financial terms were not disclosed.

Septodont and its North American subsidiary Novocol Pharmaceutical of Canada--with locations in Colorado, Pennsylvania, and Ontario--manufactures and distributes Septocaine, a dental product in the U.S., as well as other anesthetics and dental materials. Septodont is known for its pain control, endodontics, and dental restoratives.

"OraVerse fits very well within Septodont's portfolio of products and will benefit in particular from its compatibility with their leading proprietary brand Septocaine," said Donna Janson, president & CEO of Novalar. "Septodont has the established dealer relationships, manufacturing expertise, complementary product lines, and the marketing resources to take OraVerse to the next level."

Janson added, "I am proud of Novalar's significant accomplishments, including the development, FDA approval, and commercial launch of the first local anesthesia reversal agent in the U.S. Novalar and our investors are confident in the future success of OraVerse as Septodont integrates the product into their impressive sales and marketing channels."

Added Kent Chiu, president of Septodont North America: "Septodont is proud to add OraVerse to our quality line of products. This acquisition reinforces our continued commitment in providing innovative, safe, and effective solutions that enhance the quality of the dental experience for both the dental professional and their patient," .

For more information, contact Septodont at (800) 872-8305 or visit www.septodontusa.com.

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