Copy to clipboard 
Novadip Biosciences raised an additional €40 million (~USD $40 million) in a Series B equity round and non-dilutive funding. This brings the company’s total funding to €88 million, to date.
Proceeds will accelerate the clinical development of two 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 graft product designed to provide a single treatment cure for patients with critical size bone defects such as congenital pseudoarthrosis of the tibia.
Novadip’s 3M³ platform is a 3-dimensional, extracellular matrix that employs adipose-derived stem cells to deliver growth factors and miRNAs to mimic the physiology of natural tissue healing. The platform supports three therapeutic programs:
- 3MAUTO: autologous ASC products that provide one-time curative treatment to achieve long-term union and stability of critical size bone defects
- 3MALLO: “off-the-shelf” allogeneic matrix products to provide accelerated, stable bone union in 90% of bone graft procedures
- 3MEXO: allogeneic exosome products that can repair tissue following surgical resection of solid tumors, such as osteosarcoma, melanoma, glioblastoma
Novadip’s lead allogeneic product, NVD-X3, employs a matrix containing multiple bioactive factors that induce accelerated tissue healing. Designed as an “off-the-shelf” product, NVD-X3 can be shipped and stored at room temperature. Preclinical studies demonstrate that NVD-X3 offers superior bioactivity without the undesirable bone formation/resorption and inflammation observed with currently marketed bone engraftment products. Novadip plans to initiate a Phase I/II clinical trial for NVD-X3 in spine fusion and bone non-union procedures in Europe by the end of 2022.
Further, Novadip is developing NVD-003, an autologous therapy derived from ASCs as a potential single treatment to save limbs and restore mobility in patients with congenital pseudoarthrosis of the tibia. The favorable safety profile and potential clinical utility of NVD-003 for promoting healthy and durable bone formation is supported by clinical data from more than 50 adult and pediatric patients with non-healing fractures of the lower limb, bone non-union (BNU), obtained in Phase Ib/IIa clinical trials and compassionate use.
“This financing milestone is a recognition by our committed group of existing investors of the clinical benefits and broad market opportunities provided by our 3M³ tissue regeneration technology platform,” said Denis Dufrane, M.D., Ph.D., CEO and Co-founder of Novadip Biosciences. “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 orthopedic conditions such as radius fracture, spinal fusion.”
Source: Novadip Biosciences
Novadip Biosciences raised an additional €40 million (~USD $40 million) in a Series B equity round and non-dilutive funding. This brings the company's total funding to €88 million, to date.
Proceeds will accelerate the clinical development of two investigational adipose stem cell (ASC)-derived tissue regeneration products: NVD-X3, an...
Novadip Biosciences raised an additional €40 million (~USD $40 million) in a Series B equity round and non-dilutive funding. This brings the company’s total funding to €88 million, to date.
Proceeds will accelerate the clinical development of two 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 graft product designed to provide a single treatment cure for patients with critical size bone defects such as congenital pseudoarthrosis of the tibia.
Novadip’s 3M³ platform is a 3-dimensional, extracellular matrix that employs adipose-derived stem cells to deliver growth factors and miRNAs to mimic the physiology of natural tissue healing. The platform supports three therapeutic programs:
- 3MAUTO: autologous ASC products that provide one-time curative treatment to achieve long-term union and stability of critical size bone defects
- 3MALLO: “off-the-shelf” allogeneic matrix products to provide accelerated, stable bone union in 90% of bone graft procedures
- 3MEXO: allogeneic exosome products that can repair tissue following surgical resection of solid tumors, such as osteosarcoma, melanoma, glioblastoma
Novadip’s lead allogeneic product, NVD-X3, employs a matrix containing multiple bioactive factors that induce accelerated tissue healing. Designed as an “off-the-shelf” product, NVD-X3 can be shipped and stored at room temperature. Preclinical studies demonstrate that NVD-X3 offers superior bioactivity without the undesirable bone formation/resorption and inflammation observed with currently marketed bone engraftment products. Novadip plans to initiate a Phase I/II clinical trial for NVD-X3 in spine fusion and bone non-union procedures in Europe by the end of 2022.
Further, Novadip is developing NVD-003, an autologous therapy derived from ASCs as a potential single treatment to save limbs and restore mobility in patients with congenital pseudoarthrosis of the tibia. The favorable safety profile and potential clinical utility of NVD-003 for promoting healthy and durable bone formation is supported by clinical data from more than 50 adult and pediatric patients with non-healing fractures of the lower limb, bone non-union (BNU), obtained in Phase Ib/IIa clinical trials and compassionate use.
“This financing milestone is a recognition by our committed group of existing investors of the clinical benefits and broad market opportunities provided by our 3M³ tissue regeneration technology platform,” said Denis Dufrane, M.D., Ph.D., CEO and Co-founder of Novadip Biosciences. “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 orthopedic conditions such as radius fracture, spinal fusion.”
Source: Novadip Biosciences
You’ve reached your limit.
We’re glad you’re finding value in our content — and we’d love for you to keep going.
Subscribe now for unlimited access to orthopedic business intelligence.
JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
