Novalar announces acquisition of OraVerse by Septodont

Novalar Pharmaceuticals, Inc., a dental specialty pharmaceutical company, today announced that they have entered into an agreement with Septodont for the acquisition of OraVerse^®, Novalar's first-in-class local anesthesia reversal agent. Under the terms of the agreement, Septodont will take over the complete sales, marketing, and regulatory responsibilities for all 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.

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