Polynovo: Recieves US$15M in funding from BARDA
- Polynovo (PNV) has received US$15M (nearly A$22M) from the Biomedical Advanced Research and Development Authority (BARDA)
- Then the pivotal trial will support future submissions leading to pre-market approvals
- The funding is to support its synthetic dressing, NovoSorb BTM, receiving U.S. Food and Drug Administrations (FDA) approval
- Last week, the FDA told the company it needs more information on the product
- Additionally, Polynovo will also make a modest co-funding contribution, which will announced after it receives FDA approval
- Polynovo is down 1.71 per cent and is trading for $2.30 each
