EPI Health Announces Acquisition by Novan, Inc. to Create Fully Integrated Specialty Dermatology Company
· Resulting entity to have broad portfolio of commercial product in dermatology and established pipeline of early and late-stage product candidates in development across multiple indications
· Company to host conference call and webcast today at 8:30 E.T.
CHARLESTON, S.C.- March 11, 2022- The EP Group (privately held parent company of EPI Health, Inc.) today announced the acquisition of EPI Health, LLC (“EPI Health”) by Novan, Inc. (“the Company” or “Novan”) (Nasdaq: NOVN). Novan will host a conference call and webcast, today, March 11, 2022, at 8:30 a.m. ET (details below).
EPI Health is an established specialty dermatology company that markets innovative prescription therapies to dermatologists to improve patients’ quality of life. It is one of the leading companies in the US dermatology sector. EPI Health has an established sales force and commercial team with existing, deep market relationships across the dermatology community.
“EPI Health has established itself as a leading commercial dermatology company and I am excited about the synergies this transaction offers both Companies. As of today, we are now a fully integrated specialty dermatology company with a robust pipeline of development candidates and have the commercial infrastructure to realize the full value each program brings,” commented Paula Brown Stafford, Chairman and Chief Executive Officer of Novan. “I am pleased to welcome EPI Health to the Novan family.”
Novan is a specialty dermatology pharmaceutical company focused on developing therapeutic products for skin diseases. The Company is leveraging its core platform of nitric oxide-based science and clinical translation expertise to bring new medicines to market. Novan announced positive results in a Phase 3 study from its lead candidate berdazimer gel 10.3% (SB206) for the treatment of molluscum contagiosum and is advancing to submit a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) targeted in Q4 2022.
Following the acquisition, the Company will employ approximately 100 staff with over 300 years of combined excellence in dermatology product development, commercialization, and sales.
“The combined entity has the opportunity to be a force multiplier for both companies, creating a pharmaceutical engine that has the capabilities to discover innovative therapies, develop them through the clinic and through a proven commercial platform bring medications to patients with unmet needs,” added John Donofrio, President of EPI Health and now Chief Operating Officer of Novan.
Conference Call and Webcast
Novan management will host a conference call and webcast presentation for investors, analysts, and other interested parties to discuss the acquisition today, March 11, 2022, at 8:30 AM ET.
Interested participants and investors may access the conference call by dialing (844) 707-0661 (domestic) or (703) 318-2240 (international) and referencing conference ID:4166574. The live webcast will be accessible on the Events page of the Investors section of the Novan website, novan.com, and will be archived for 90 days.
About EPI Health
Based in Charleston, South Carolina since 2017. EPI Health is committed to being a valued leader in dermatology by providing safe, beneficial, and effective medications to the dermatology community and the patients they serve, while enriching the lives of our employees through an enjoyable and rewarding and work environment. Our core values include Collaboration, Trust, Accountability and Transparency. Our wide portfolio of products serves the dermatology community across rosacea, acne, dermatosis, herpes simplex and now psoriasis.
Novan, Inc. is a specialty dermatology company focused on developing and marketing innovative therapeutic products for skin diseases. We leverage our core platform of nitric oxide-based science and clinical translation with strategic commercial solutions to bring new medicines to market. Today, we sell products for acne, rosacea, dermatosis, and psoriasis. Our goal is to deliver safe and efficacious therapies where there are unmet medical needs. We are advancing a pipeline of product candidates using our proprietary nitric oxide-based technology platform, NITRICIL™, to generate new treatments for multiple indications.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “target,” “anticipate,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on the Company’s current beliefs and expectations. These forward-looking statements include, but are not limited to, statements related to the potential therapeutic value of the Company’s NITRICIL™ platform technology, the Company’s pharmaceutical development of nitric oxide-releasing product candidates, such as berdazimer 10.3% gel (SB206) for molluscum contagiosum, and the potential benefits of berdazimer 10.3% gel, if approved. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the Company’s expectations, including, but not limited to, risks related to the regulatory approval process, which is lengthy, time-consuming and inherently unpredictable, including the risk that the FDA will not agree with the Company’s approach to a potential NDA submission, that the Company’s product candidates may not be approved or that additional studies may be required for approval or other delays may occur, that the Company may not have sufficient quantities of drug substance and/or drug product to support regulatory submissions and that the Company may not obtain funding sufficient to complete the regulatory or development process; the Company’s limited experience as a company in obtaining regulatory approvals and commercializing pharmaceutical products risks and uncertainties in the Company’s ongoing or future product development activities and preclinical studies, which may not prove successful in demonstrating proof-of concept, or may show adverse toxicological findings, and even if successful may not necessarily predict that subsequent clinical trials will show the requisite safety and efficacy of the Company’s product candidates; any operational or other disruptions as a result of the COVID-19 pandemic; the Company’s ability to obtain additional funding or enter into strategic or other business relationships necessary or useful for the further development or commercialization of the Company’s product candidates; the Company’s reliance on arrangements with third parties to support its operations and its development, manufacturing and commercialization efforts and the risk that such parties will not successfully carry out their contractual duties or meet expected deadlines; and other risks and uncertainties described in the Company’s annual report filed with the Securities and Exchange Commission on Form 10-K for the twelve months ended December 31, 2020, and in the Company’s subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Novan disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.
INVESTOR AND MEDIA CONTACT:
JTC Team, LLC
EPI Health, LLC