Oxoferin, a topical wound healing agent, is a diluted form of WF10, a chlorite-based, immune modulating drug. The Company believes the research to-date demonstrates that WF10 acts on macrophages - a type of white blood cell that coordinates much of the immune system - by modulating the balance between inflammatory and phagocytotic activity. By activating macrophages, Oxoferin appears to stimulate the proliferation of fibroblasts - cells that manufacture connective tissue. New connective tissue leads to contraction, closure and faster healing of wounds.

Chronic, hard-to-heal wounds are a serious problem with an increasing incidence. Chronic wounds can be caused by such conditions as pressure sores and poor circulation in the lower extremities. Co-morbid conditions, such as diabetes and atherosclerosis, reduce blood flow to the extremities and also increase the likelihood of developing chronic wounds.

Oxoferin is marketed by Dimethaid GmbH in parts of Europe, Asia and South America as a topical wound healing agent under several trade names including Oxoferin and Oxovasin.  In 2008, the Company signed a distribution and license agreement with a regional pharmaceutical company for Russia and some of the former Soviet republics, including all of the Baltic States. The Company and its licensee are currently working to gain marketing authorizations in these territories, but do not expect to receive such authorizations until 2010 at the earliest.

In November 2009, the Company entered into an exclusive license agreement with Ranbaxy Laboratories Limited (Ranbaxy) for the supply and distribution of Oxoferin in several Asian countries including: Malaysia, Cambodia, Philippines, Vietnam and Singapore. Under the terms of the agreement, Nuvo will manufacture and supply Oxoferin to Ranbaxy, India's largest pharmaceutical company. Ranbaxy will be responsible for obtaining regulatory approval in the licensed territories and has committed to minimum annual purchase quantities once approved.

The Company's patents associated with Oxoferin have expired and the Company is exploring improved formulations of this product.