Novadip raises €10.4 million to complete pivotal bone-graft trial
Image: Primary Belgian regenerative-medicine company Novadip Biosciences has closed a €10.4 million convertible financing led by New Science Ventures. The funding will support completion of an ongoing Phase 3 trial in the United States and European Union for NVD003, a graft made from a patient's own stem cells to treat congenital pseudarthrosis of the tibia, and preparation of a US regulatory submission.
Reaching the financing target also opens access to a tranche of an €18 million European Investment Bank venture-debt agreement. Novadip aims for market authorization in 2028, so the product remains in clinical development and is not approved.
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