Date: 2015-09-10
Type of information: Series A financing round
Company: Novadip Biosciences (Belgium)
Investors: New Science Ventures (USA) VIVES Louvain Technology Fund (Belgium) NivelInvest (Belgium) Fund+ (Belgium) Integrale S (Belgium) RIW (Belgium) SFPI-FPIM (Belgium) Epimède (Belgium) individual investors.
Amount: €28 milllion
Funding type: series A financing round
Planned used: Novadip Biosciences has bee founded by Pr. Denis Dufrane and Jean-François Pollet. This spin-off company from University of Louvain (UCL) and St Luc University Hospital (CUSL), is active in regenerative medicine. Novadip’s first mission is to treat patients with bone defects and severe bone diseases. The proceeds of the financing round and repayable advance from Belgium’s Walloon Region (€2M) will be primarily used for clinical development and process industrialization of Novadip Biosciences’ lead compound Creost®. Creost will initially be investigated for complex lumbar spine fusion. The technology originates from research lead by Prof Denis Dufrane and colleagues at the Cell and Tissue Therapy Centre of St Luc University Hospital and Université catholique de Louvain. Over the last 5 years, fifteen patients with various but severe conditions were allowed for treatment with Creost by Profs. Pierre-Louis Docquier and Christian Raftopoulos (St Luc University Hospital) under the European hospital exemption rule and showed promising clinical outcomes.
Others: * On September 10, 2015, Novadip Biosciences announced the successful closing of a €28 milllion Series A financing led by New Science Ventures, a US-based venture capital firm, and including Belgian investors VIVES Louvain Technology Fund, NivelInvest (Start-Up), Fund+, Integrale, SRIW, SFPI-FPIM, Epimède and several individual investors.
Therapeutic area: Regenerative Medicine
