– The Purdue University-affiliated startup is developing a novel injectable-targeted drug for broken and compromised bones –
AUSTIN, Texas, Aug. 8, 2019 — Research Bridge Partners—a 501 (c) (3) organization that bridges preeminent innovators at mid-continent research universities with the commercialization resources of Silicon Valley—announced the investment of seed capital in Novosteo, Inc.
Novosteo has already completed preclinical studies that successfully demonstrate how the new targeted drug heals bone fractures faster and better than the same untargeted drug. The research findings were published in the June 2018 edition of the Department of Defense Spotlight article “Fracture-targeted drugs for accelerated bone repair,” authored by the Lows.
“We employ proprietary analytics to identify and connect world-class researchers operating at heartland universities,” said Isaac Barchas, co-founder and CEO of Research Bridge Partners. “Phil, Stewart and their team unambiguously emerged as national leaders not simply on the strength of their research, but also because their lab culture and personality traits further enhance their potential for extraordinary human impact and economic output.”
Research Bridge Partners’ initial investment of $500,000 is the first seed capital raised by Novosteo. The Research Bridge Partners investment is designed to activate the venture cycle for Novosteo by allowing the company to build out the business infrastructure that will allow it to compete for industry-leading business talent and capital in global markets.
“We’re investing in the business-side of the business, while playing a hands-on role in setting up an independent company to succeed long term,” said Barchas, who joins Novosteo’s board of directors as part of Research Bridge Partners’ program-related investment.
The senior Low added: “Our research holds enormous potential to significantly improve the lives of many, many people. We have an obligation to build a business that is equal to that science. Research Bridge Partners gives us a trusted partner, on our side of the table, who helps us find, partner with, and pay for access to the best know-how, professional services, capital providers, and business talent in the nation.”
About Research Bridge Partners
Research Bridge Partners, a 501 (c) (3) organization, enhances the societal and economic impacts of America’s research universities by bridging preeminent innovators at mid-continent institutions with the commercialization resources of Silicon Valley.
Founded by Isaac Barchas and Reid Hoffman, Research Bridge Partners uses proprietary data analytics to identify the nation’s leading researchers and translational philanthropy to transform their scientific breakthroughs into investible companies for the benefit of people everywhere. Translational philanthropy is a novel form of not-for-profit venture capital that preserves the incentives of traditional venture capital, while allowing donors to share appropriately in the economic returns. The organization manages a seed fund that accepts donations from charities, foundations and philanthropists.
About Novosteo 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 fractures.