Venture-Backed Nuvo Completes Share Consolidation

Mississauga, Ontario-based Nuvo Research Inc., a publicly traded pharmaceuticals company that is building a portfolio of products for the treatment of pain and development of a immune modulating drug, has completed a proposed share consolidation. The approved initiative will see the company's outstanding common shares reduced from approximately 568.5 million to approximately 8.7 million. Nuvo Research is a portfolio company of U.S. venture capital firm Draper Fisher Jurvetson.

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