Nuvo receives $5.6 million investment from SAB

Mississauga ON-based Nuvo Research Inc has received $5.6 million from the German Development Bank of Saxony (SAB) for further development of WF10, its immune modulating drug to regulate the normal function of the immune system. Funded by the European Union and the Free State of Saxony, SAB is a standalone development bank with no commercial banking activities. In other news, Nuvo will receive $6 million in milestone payments related to its topical anesthetic cream Pliaglis, which provides topical local analgesia for superficial dermatological procedures. The payments will be made by Nuvo's marketing partner, Galderma SA and relates to three marketing licenses from EU countries….