A Purdue University-affiliated startup moves closer to launching a clinical trial for a novel injectable drug developed to heal broken bones faster while strengthening weak bones. Discovered at Purdue University, NOV004 now sponsored by Novosteo Inc., is unique in that it concentrates at the fracture site while reducing exposure to the rest of the body.
This novel treatment was developed at Purdue University, a leader in developing new health care-driven offerings to the market. Currently, Purdue has 288 clinical trials performed or in process using Purdue-developed medical treatments at 4,841 sites across the globe.
Discovered by Purdue University, NOV004 was developed by a father-son team Philip S. Low, the Presidential Scholar for Drug Discovery and the Ralph C. Corley Distinguished Professor of Chemistry, and Stewart A. Low, the company’s CSO and Visiting Scholar in Purdue’s Department of Chemistry. Developed in the Purdue laboratory of Low in the Purdue Institute of Drug Discovery, the new venture was founded in 2017 to commercialize the experimental technology.
One in three adults aged 60 and over suffering from a hip fracture die within one year. The Purdue University-affiliated startup, Novosteo Inc. moves closer to the start of clinical trials for a novel injectable drug that is targeted to heal broken bones faster while strengthening weak bones.
With under 10 employees, Novosteo was founded to reduce the morbidity, mortality and loss of productivity associated with bone fractures. Based on discoveries of agents that accelerate bone regeneration and breakthroughs in methods to target these agents selectively to fracture surfaces, Novosteo has designed a series of fracture-targeted drugs that concentrate a drug’s healing power specifically at the fracture site, thereby greatly accelerating and improving the healing process. The mission of Novosteo is to reduce the debilitating and often life-threatening effects of bone fracture. According to Crunchbase they have raised $2.2 million since its inception in 2017.
Philip S Low, Presidential Scholar for Drug Discovery and Ralph C. Corley Distinguished Professor of Chemistry – Biochemistry (Department of Chemistry)
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