Novadip Biosciences SA raises €40m

Belgian regenerative medicine specialist Novadip Biosciences has raised €40m to push clinical development of its two investigational adipose stem cell (ASC)-derived tissue regeneration products, NVD-X3 and NVD-003.

NVD-X3 is an allogeneic cell therapy that provides accelerated, durable bone union in spinal fusion procedures and non-healing fractures and is expected to pose an off-the-shelf solution to falsely healed bone-fractures. Novadips clinical studies demonstrated NVD-X3 to offer superior bioactivity and prevent undesirable bone formation and inflammation in comparison to bone engraftment products currently available. NVD-003, on the other hand, is an autologous bone engraftment product designed to provide a single-treatment cure for patients with critical size bone defects such as congenital pseudoarthrosis of the tibia (CPT), which constitutes a rare paediatric bone condition that currently often leads to chronic pain, risk of infections, and a persistent risk of amputation. Clinical trials for both products are planned for the end of 2022.

The  company that was spun off in 2013 lfrom the Université Catholique de Louvain (UCLouvain) and St. Luc University Hospital that was founded by the company’s current CEO Denis Dufrane specialises in developing regeneration therapies, like tissue products from adipose-derived stem cells, to accelerate healing of large bone defects and injuries. The fresh money is comprised from partly new equity and partly in non-dilutive financing. Moreover, the chinese CR-CP Life science fund, has joined the group of investors entrusting capital in Novadip.

Denis Dufrane, MD, PhD, CEO, and Co-founder of Novadip Biosciences welcomed the international financial support. “With this funding we will advance a new class of therapeutics that offer curative hope for patients suffering from large bone defects and enable accelerated healing of common orthopaedic conditions such as radius fracture, spinal fusion.” he said.