Novosteo
Founded to reduce the morbidity, mortality and loss of productivity associated with bone fractures.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
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Novosteo Inc. operates as a clinical-stage biopharmaceutical entity focused on developing treatments for bone-related diseases and injuries. The company was established in 2017 as a spinout from Purdue University, co-founded by the father-son team of Dr. Philip S. Low and Dr. Stewart A. Low. Philip Low is a distinguished professor of chemistry at Purdue with a prolific career in drug discovery, having founded multiple successful biotech companies. Stewart Low, who serves as Head of Discovery, is the primary inventor of the company's core technology and has dedicated a decade to developing fracture-targeted drugs.
The firm's core business revolves around its proprietary drug-targeting platform designed to deliver therapeutic agents—such as small molecules, peptides, or large molecules—directly to the site of bone injury. This approach aims to concentrate the healing agent where it is most needed, minimizing systemic exposure and potential side effects. The company's lead product candidate, NOV004, is an injectable, bone-targeting molecule engineered to accelerate fracture repair. In preclinical studies, NOV004 has been shown to significantly increase the rate of new bone production and density. The business model is centered on advancing its pipeline of drug candidates through clinical trials to gain regulatory approval and commercialize these therapies. The target market includes patients with difficult-to-heal fractures, those with rare skeletal diseases like osteogenesis imperfecta (brittle bone disease), and potentially applications in spinal fusion and dental implants.
A significant milestone in the company's history occurred in May 2022, when it was acquired by Cortexyme, Inc. Following the acquisition, Cortexyme was rebranded as Quince Therapeutics. This transaction provided Novosteo with access to public market capital to advance its clinical programs, with NOV004 expected to enter Phase 1 clinical studies. Before being acquired, Novosteo had successfully raised approximately $26.8 million in funding through several rounds, including investments from Kairos Ventures, BioCrossroads Ventures, and Purdue Research Foundation.
Keywords: bone regeneration, fracture healing, targeted drug delivery, biopharmaceutical, osteogenesis imperfecta, peptide drug conjugates, anabolic agent, skeletal diseases, spinal fusion, clinical trials