Novosteo develops and delivers new drugs for the treatment of bone fractures, bone metastasis and infection to reduce morbidity, mortality and loss of mobility and productivity. Its lead candidate, NOV004, has shown promise in live animal studies by accelerating fracture healing when delivered systemically. NOV004 reportedly concentrates at the fracture site while avoiding accumulation in the rest of the body. The company plans to advance NOV004 into clinical development beginning in the first half of 2021. Novosteo was co-founded by Stewart Low and Philip Low of Purdue University. The company is based in Austin, Texas. Novosteo is a Purdue University spin-out developing a novel injectable-targeted drug that concentrates at fracture sites after systemic administration to accelerate and improve bone healing. The company has completed preclinical studies showing the targeted drug heals bone fractures faster and better than the same untargeted drug. Those research findings were published in a June 2018 Department of Defense Spotlight article authored by the company’s co‑founders. Novosteo is co‑founded by Philip S. Low and Stewart A. Low. The recent investment is intended to help build out business infrastructure to compete for talent and capital in global markets. No operating metrics (revenue/users) are disclosed in the article.

Total raised

$6M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2021