Novadip Biosciences Raises Additional EUR 40M in Series B Funding

Novadip Biosciences

Novadip Biosciences, a Mont Saint-Guibert, Belgium-based 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, raised an additional EUR 40m in a Series B equity round and non-dilutive funding.

The EUR 40m financing is comprised of EUR 24m in new equity and EUR 16m 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.

The funding will accelerate the clinical development of two of Novadip’s 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).

Co-Founded in 2013 by Denis Dufrane, MD, PhD, CEO, Novadip Biosciences is a clinical stage company developing best in class tissue regeneration therapies to elevate the standard of care for critical size bone defects, common orthopedic conditions, and cancer. Its 3M³ tissue regeneration technology platform has the potential to generate an array of product candidates to address hard and soft tissue reconstruction for patients with limited or no treatment options.

FinSMEs

03/11/2022