Toronto, ON – Pharmaceutical developer Dimethaid Research says it is planning to change its name to Nuvo Research, reflecting a change in its direction and focus.
“We have restructured our operations and adopted a new strategic direction. A new name will be a clear signal that we have changed as a company,” said John London, the company’s vice chairman.
Under the direction of a new board of directors and management team, Dimethaid has refocused its efforts on drug development. It says it has initiated a market-driven pipeline and is looking to foster new partnerships with leading companies that are prepared to share the financial risks and rewards of clinical development and are well positioned to commercialize approved drugs.
Nuvo Research was selected following a competition amongst employees, giving them a more personal stake in the company’s identity. “We see the name reinforcing the image of a company with a new and exciting future,” said Dr Henrich Guntermann, president and CEO of Dimethaid.
The proposed name change is subject to shareholder approval and will be on the agenda for its upcoming annual and special meeting of shareholders, scheduled for mid-September.