Chondropeptix, Maastricht UMC+ and Pepscan Therapeutics enter into a public-private partnership enabled by ReumaNederland and Health~Holland
Maastricht, 07-February-2019 - Chondropeptix, Maastricht UMC+ and Pepscan Therapeutics together with ReumaNederland and Health~Holland today announce the start of a collaborative consortium. The aim of the public private partnership is to enable the development of a new regenerative treatment for the joint disease osteoarthritis with the potential to slow down the disease process.
Chondropeptix in collaboration with Maastricht UMC+ and Pepscan Therapeutics, will develop a lead compound based on a bioactive peptide, derived from growth factor BMP7, for local treatment of affected joints in osteoarthritis patients
The 2-year partnership, comprising a total value of 1,25M euro of in-cash and in-kind contributions, is enabled by ReumaNederland together with Health~Holland and is the first step in bringing this regenerative approach closer to patients.
“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” says Lodewijk Ridderbos, Director of ReumaNederland.
“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” says Professor Lodewijk van Rhijn, Orthopedic Surgeon of Maastricht UMC+ and Chief Development Officer of Chondropeptix.
“We are very happy to join this powerful partnership between Maastricht UMC+ and Chondropeptix and will support this interesting project with providing our knowledge and expertise on peptides and “peptide-based protein mimics”says professor Peter Timmerman Chief Scientific Officer of Pepscan Therapeutics.
Chondropeptix closes first finance round of €1 million to develop new disease modifying treatment for osteoarthritis.
Maastricht, 28 October 2019 - Chondropeptix announces the closure of a €1 million financing round to enable the first steps in the development of a new disease modifying treatment for osteoarthritis, with the potential to slow down the disease process. Chondropeptix will develop a lead compound based on a bioactive peptide, derived from growth factor BMP7, to reduce cartilage breakdown in early osteoarthritis which is suitable for local treatment of affected joints. The €1 million investment in Chondropeptix is made by convertible loans from ReumaNederland, LIOF NV Brightlands Life Sciences Ventures.
"“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 says Yvo Graus, CEO of Chondropeptix”.
"“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, says Jan Cobbenhagen, CEO Brightlands Maastricht Health Campus”.
"Corné Baatenburg de Jong, Associate Director of ReumaNederland says: “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”.
"Tys van Elk, director of LIOF added: “LIOF’s Limburg Business Development Fund (LBDF) actively supports early stage innovative companies in Limburg with a strong growth potential. We are excited to have made the investment in Chondropeptix together with Brightlands and ReumaNederland. Chondropeptix is an outstanding example of a therapeutic innovation that can have a strong impact on patients’ lives. In addition, our strategic investment further strengthens the ecosystem of the Brightlands Maastricht Health Campus”.