NovaQuest Capital set to obtain Viamet Pharma and the VT-1161, Product Candidate

Novaquest Capital Management announced acquisition of Viamet Pharmaceuticals including the company’s product candidate, VT-1161 that successfully complete phase 2b clinical trials for curing chronic vulvovaginal candidiasis and onychomycosis. Through the deal Viamet Pharmaceuticals wishes to further develop VT-1161. Viamet pharmaceuticals a subsidiary of the Viamet Pharmaceuticals holdings, LLC that plans to retrieve the ownership of the remaining viamet group of companies and assets.

Novaquest Capital moves to recruit members of Viamet pharmaceutical’s development team to oversee operations in research triangle park, N.C NovaQuest Capital Partner, Patrick Jordan will take charge as the CEO.

Dr. Schotzinger, CEO Of the Viamet Group of companies opines “At the Viamet group, we will continue to focus on leveraging our metalloenzyme expertise in therapeutic areas including infectious disease, oncology and orphan diseases. We believe that VT-1161 is only the first of many exciting future candidates that will emerge from our MIDAS technology.’’

An estimate indicates 5 to 8 % of expectant mothers age suffer from RVVC. U.S presently has no approved therapies to treat this ailment. RVVC is a deep menace to the psychological well- being by disrupting comfort Approximately 32 million individuals in the United States are diagnosed with Onychomycosis, a fungal infection that primarily involves the nail, nail bed and surrounding tissues. It can be an essential medical issue for diabetics or other patients with ineffective immune systems or poor circulation of the lower extremities.

The financial terms have not been divulged yet that is subject to customary closing conditions like termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.