Novan Takes Steps to Reduce Real Estate Footprint

MORRISVILLE, N.C., Aug. 13, 2019 (GLOBE NEWSWIRE) — Novan, Inc. (“the Company” or “Novan”) (Nasdaq:NOVN) today announced that the Company has executed a non-binding letter of intent (LOI) with a third party on its facility at 4105 Hopson Road in Morrisville, NC. The primary goal of the LOI is to negotiate an agreement that obtains the release of Novan from its current multi-year obligation. This agreement has a 60-day period of exclusivity for negotiations. The Company’s objective is to reach a binding agreement no later than the end of the third quarter of 2019.