According to St. Renatus, Blue Ocean Holdings is investing an additional $5 million in the company. The funds will go toward completion of St. Renatus’s New Drug Application (NDA) for its nasal mist dental anesthesia and for commercialization. St. Renatus says that it plans to submit the NDA in 2014.
In February 2014, St. Renatus announced that it had completed Phase 3 studies for the product.
St. Renatus CEO Steve Merrick said, “Blue Ocean’s commitment to St. Renatus is an asset to a fast growing company looking at national distribution. We want to ramp up production and distribution quickly — if our drug application is approved by the FDA. Often there is lag time in the expenses incurred during the ramp up versus sales revenue, therefore we are actively seeking additional private investors like Blue Ocean and new investors to support us financially during this exciting period.”
Read the St. Renatus press release.
