{"id":50465,"date":"2022-11-03T19:00:45","date_gmt":"2022-11-03T18:00:45","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/novadip-biosciences-raises-additional-eur-40-million-bringing-total-company-funding-to-eur-88-million\/"},"modified":"2022-11-03T19:00:45","modified_gmt":"2022-11-03T18:00:45","slug":"novadip-biosciences-raises-additional-eur-40-million-bringing-total-company-funding-to-eur-88-million","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/novadip-biosciences-raises-additional-eur-40-million-bringing-total-company-funding-to-eur-88-million\/","title":{"rendered":"Novadip Biosciences Raises Additional EUR 40 Million Bringing Total Company Funding to EUR 88 Million"},"content":{"rendered":"
\n

\nFunding will support development of next generation orthopedic products that provide accelerated healing through single treatment cures<\/i>\n<\/p>\n

\nEquity Funding led by<\/i> CR-CP Life Science Fund, New Science Ventures, Fund+ and SRIW<\/i>\n<\/p>\n

MONT SAINT-GUIBERT, Belgium–(BUSINESS WIRE)–#Belgium<\/a>–Novadip Biosciences (\u201cNovadip\u201d or \u201cthe Company\u201d), a clinical-stage biopharmaceutical company developing a new class of regenerative tissue products to accelerate healing of large bone defects and injuries in a single treatment, today announced that it has raised an additional EUR 40 million in a Series B equity round and non-dilutive funding. The funding will accelerate the clinical development of two of Novadip\u2019s investigational adipose stem cell (ASC)-derived tissue regeneration products: NVD-X3, an allogeneic therapeutic that can provide accelerated, durable bone union in spinal fusion procedures and non-healing fractures, and NVD-003, 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).\n<\/p>\n

<\/a><\/p>\n

\nThe EUR 40 million financing is comprised of EUR 24 million in new equity and EUR 16 million in non-dilutive financing mainly by the Walloon Region. CR-CP Life Science Fund (China) joined existing investors, including New Science Ventures (US), Fund+, SRIW Life Sciences, VIVES Louvain Technology Fund, InvestSud, family offices and private investors, such as Pierre Drion and Olivier van der Rest, to support the equity round.\n<\/p>\n

\n\u201cThis financing milestone is a recognition by our committed group of existing investors of the clinical benefits and broad market opportunities provided by our 3M\u00b3 tissue regeneration technology platform,\u201d said Denis Dufrane, MD, PhD, CEO and Co-founder of Novadip Biosciences. \u201cWith 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 orthopedic conditions such as radius fracture, spinal fusion.\u201d\n<\/p>\n

\nNovadip\u2019s 3M\u00b3 platform is a 3-dimensional, extracellular matrix that utilizes adipose-derived stem cells to deliver highly specific growth factors and miRNAs to mimic the physiology of natural tissue healing. The platform supports three distinct therapeutic programs:\n<\/p>\n