BusinessChamber

Novadip Biosciences Series B Financing announced

More good news coming out of our corporate member Asia-Euro Consultancy: a new investment has been brought to Belgium.

On 28 October, Novadip Biosciences, a clinical stage company developing treatments to regenerate impaired tissue in patients, announced EUR 19 million Series B financing backed by international investors.

This financing was co-led by new international investors, including CR-CP Life Science Fund, a Hong Kong-based venture capital firm, US-based New Science Ventures and Belgian investors Fund+ & SRIW Life Sciences. Existing holders VIVES Louvain Technology Fund and Invest BW also participated with Belgian based InvestSud joining as a new investor. Asia-Euro Consultancy was involved as advisor to Novadip to conclude this process successfully, and brought in th EUR 8 million investment from their HK based client, China Resources-Charoen Pokphand Life Science Fund.

This successful fund has converted €11 million loan into shares. It will foster innovation of Novadip’s technology platform and encourage development of products in tissue reconstruction and oncology. It will also allow the Mont-Saint-Guibert biotech to continue its clinical developments, which will pave the way for a listing on Nasdaq within three years. In the meantime, Novadip is exploring future clinical development opportunities in China. Asia-Euro Consultancy has successfully advised Novadip with their investment raising in Asia & introduction on the Chinese Market.

To learn more about Novadip Biosciences, please visit their website: https://www.novadip.com