Novadip Biosciences, a biopharmaceutical spin-off company of Université catholique de Louvain, Belgium, closed a €28M Series A financing.
The round was led by New Science Ventures, with participation from VIVES Louvain Technology Fund, NivelInvest (Start-Up), Fund+, Integrale, SRIW, SFPI-FPIM, Epimède and several individual investors.
The company intends to use the proceeds for clinical development and process industrialization of its lead compound Creost®.
Led by Jean-François Pollet, CEO and co-founder, and Denis Dufrane, CSO and co-founder, Novadip Biosciences advances Creost, a ready-to-use and natural 3-dimensional tissue that can be modelled to fill large and small bone defects. Creost will initially be investigated for complex lumbar spine fusion, an unmet medical need affecting more than 100,000 patients per year worldwide.
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.