West Lafayette, IN – According to filings with the U.S. Securities and Exchange Commission, Novosteo is raising $14,289,758.00 in new funding. Sources indicate as part of senior management President and Chief Executive Officer, Dirk Thye played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Novosteo
Approximately 6.3 million bone fractures occur each year in the United States. This problem is compounded by a generally aging population in which the frequency of osteoporosis and the rate of life-threatening fractures is dramatically increased. Hip fractures alone are expected to climb by 160% to 500,000 fractures per year by 2040. Despite current medical therapies, approximately one quarter of those 65 and older with hip fractures will die within a year due to fracture-associated complications. Other fractures will impact lives by causing loss of mobility, prolonged time away from work, physical pain/discomfort and a need for outside assistance. 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 drugs 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.

To learn more about Novosteo, visit http://www.novosteo.com/

Contact:
Dirk Thye, President and Chief Executive Officer
765-761-3912
https://www.linkedin.com/in/dirk-thye-md-a1a6627/

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