Chondropeptix secures first financing of 1 million euros to develop new disease modifying treatment for osteoarthritis
On 28th of October 2018 Chondropeptix announced the securing of 1 million euro financing that will enable the initial steps in the development of a new disease modifying treatment for osteoarthritis, which will have the potential to slow down the progression of the disease.
A lead compound based on a bioactive peptide, derived from growth factor BMP7 will be developed by Chondropeptix, Maastricht UMC and Pepscan Therapeutics. It aims at reducing cartilage breakdown in early osteoarthritis and will be used on osteoarthritis patients for local treatment of affected joints. The funding is made by convertible loads from Reuma Nederland, LIOF NV Brightlands Life Sciences Ventures.
Yvo Graus, CEO of Chondropeptix shares: “This investment will enable Chondropeptix to make the first steps in developing an innovative drug that potentially inhibits osteoarthritis disease progression and may improve the quality of life of patients with this debilitating disease. We are delighted that ReumaNederland, LIOF and Brightlands Life Sciences Ventures co-invest in Chondropeptix to bring this potential new treatment closer to patients”
Jan Cobbenhagen, CEO of Brightlands Maastricht Health Campus says: “The financing of Chondropeptix is a good example of the power of the startup ecosystem around the Brightlands Maastricht Health Campus. In close collaboration with the Brightlands Maastricht Health Campus, LIOF and the inventors, Chondropeptix was able to present an interesting proposition to ReumaNederland, the main investor”
Corné Baatenburg de Jong, Associate Director of ReumaNederland asserts: “ReumaNederland is proud that this collaborative result has been achieved by all parties. This collaborative effort bringing together various perspectives and capabilities, shows that investing in improving treatment of osteoarthritis is considered to be of significant importance”.
Chondropeptix, Maastricht University Medical Center and Pepscan Therapeutics formed a public-private partnership together with Reuma Nederland and Health~Holland on the 7th of February 2019 with the aim of enabling the development of a new regenerative treatment for osteoarthritis.
Lodewijk Ridderbos, the Director of Reuma Nederland shares: “It is our aim to catalyze the development of innovative treatment options in order to bring them a step closer to osteoarthritis patients desperately in need of new treatment options”.
Professor Lodewijk van Rhijn, Orthopedic Surgeon of Maastricht UMC and Chief Development Officer of Chondropeptix says: “This private-public partnership is a powerful collaborative effort to translate cutting-edge research into a meaningful new treatment option that has the potential to slow down the disease process in osteoarthritis”.
