About Novan
Novan is a company based in Morrisville (United States) founded in 2006.. Novan has raised $164.84 million across 30 funding rounds from investors including NIH, HHS and Ligand Pharmaceuticals. The company has 89 employees as of December 31, 2022. Novan has completed 1 acquisition, including EPI Health. Novan offers products and services including ZELSUVMI, SB204, and NITRICIL. Novan operates in a competitive market with competitors including Incyte, LEO Pharma, Formation Bio, Arcutis and Inovio Pharmaceuticals, among others.
- Headquarter Morrisville, United States
- Employees 89 as on 31 Dec, 2022
- Stage Public
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Novan, Inc.
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Annual Revenue
$23.68 M701as on Dec 31, 2022
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Net Profit
$-31.31 M-5as on Dec 31, 2022
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EBITDA
$-34.23 M-14as on Dec 31, 2022
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Total Equity Funding
$164.84 M (USD)
in 30 rounds
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Latest Funding Round
$5 M (USD), Post-IPO
Jul 22, 2020
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Investors
NIH
& 8 more
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Employee Count
89
as on Dec 31, 2022
- Investments & Acquisitions
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Products & Services of Novan
Novan offers a comprehensive portfolio of products and services, including ZELSUVMI, SB204, and NITRICIL. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Treatment for molluscum contagiosum skin infection
Nitric oxide-based therapy for skin conditions
Innovative nitric oxide technology for dermatological treatments
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Funding Insights of Novan
Novan has successfully raised a total of $164.84M across 30 strategic funding rounds. The most recent funding activity was a Post-IPO round of $5 million completed in July 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 30
- Last Round Post-IPO — $5.0M
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First Round
First Round
(01 Apr 2007)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2020 | Amount | Post-IPO - Novan | Valuation |
investors |
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| Feb, 2020 | Amount | Grant - Novan | Valuation |
investors |
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| Sep, 2019 | Amount | Grant - Novan | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Novan
Novan has secured backing from 9 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include NIH, HHS and Ligand Pharmaceuticals. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Venture capital fund backed by the US Government
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Founded Year | Domain | Location | |
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Drug discovery services are provided to the biopharma sector.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Novan
Novan has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include EPI Health. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Innovative therapeutic treatments for skin diseases are developed.
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2017 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Novan
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Novan Comparisons
Competitors of Novan
Novan operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Incyte, LEO Pharma, Formation Bio, Arcutis and Inovio Pharmaceuticals, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Small molecules are developed for cancer and skin disease treatments.
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| domain | founded_year | HQ Location |
Developer of drugs for treating dermatology diseases
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| domain | founded_year | HQ Location |
AI-powered drug discovery platform for various diseases
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| domain | founded_year | HQ Location |
Immunotherapeutic solutions for dermatological conditions are developed.
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| domain | founded_year | HQ Location |
Developer of vaccines for the treatment of cancer and infectious diseases
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| domain | founded_year | HQ Location |
Microbial therapeutics for skin diseases are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Novan
Frequently Asked Questions about Novan
When was Novan founded?
Novan was founded in 2006 and raised its 1st funding round 1 year after it was founded.
Where is Novan located?
Novan is headquartered in Morrisville, United States.
Who is the current CEO of Novan?
Paula Brown Stafford is the current CEO of Novan.
Is Novan a funded company?
Novan is a funded company, having raised a total of $164.84M across 30 funding rounds to date. The company's 1st funding round was a Grant of $1.11M, raised on Apr 01, 2007.
How many employees does Novan have?
As of Dec 31, 2022, the latest employee count at Novan is 89.
What is the annual revenue of Novan?
Annual revenue of Novan is $23.68M as on Dec 31, 2022.
What does Novan do?
Novan was founded in 2006 and is headquartered in Morrisville, United States. Therapeutics based on nitric oxide are developed by the company for various dermatology conditions. The proprietary Nitricil platform is utilized to create novel nitric oxide-based new chemical entities for topical applications. A lead candidate targets acne vulgaris, while other programs address human papillomavirus infections, onychomycosis, psoriasis, and atopic dermatitis.
Who are the top competitors of Novan?
Novan's top competitors include LEO Pharma, Formation Bio and Arcutis.
What products or services does Novan offer?
Novan offers ZELSUVMI, SB204, and NITRICIL.
How many acquisitions has Novan made?
Novan has made 1 acquisition, including EPI Health.
Who are Novan's investors?
Novan has 9 investors. Key investors include NIH, HHS, Ligand Pharmaceuticals, Aspire Capital, and U.S. Department of Defense.