Purdue Startup Awarded Grant For New Drug

Posted: Updated:
Phillip and Stewart Low, co-founders of Novosteo (photo courtesy of Purdue University) Phillip and Stewart Low, co-founders of Novosteo (photo courtesy of Purdue University)
WEST LAFAYETTE -

A $1.7 million National Institutes of Health grant will help Novosteo, Inc. test the efficacy of a new drug to help reduce complications from a broken bone due to a fall. The Purdue-affiliated startup was co-founded by Phillip and Stewart Low, who designed a unique drug that focuses on the fracture site and reduces exposure to the rest of the body. 

The Journal of Internal Medicine reported last year that one in three adults aged 50 or over die within 12 months of a bone-breaking fall. 

“There is a compelling need for this type of targeted treatment. Hip fractures alone are expected to climb by 160 percent to 500,000 fractures annually by 2040,” said Stewart Low. “Even with current medical therapies, the odds of making a full recovery are wholly unsatisfactory. Our goal is to provide a better solution for those who suffer and help them more quickly regain their mobility, significantly decreasing the life-threatening complications that besiege those immobilized by their fracture.”

The company has already done preclinical studies that show the targeted drug heals faster and better than the same untargeted drug, which Novosteo Chief Executive Officer Dan Hasler says could have a large economic impact as well. "Healing a hip fracture can cost over $80,000 from start to finish, including nursing home costs, but frankly, we are motivated by the hope of reducing the suffering of the hundreds of thousands of hip fracture patients annually. It is the face of my grandmother, who died after a long post-hip fracture fight that motivates me.”

Novosteo officials are also investigating other uses for the injectable drug, such as dental implants, and hip and knee replacements. For more information on the testing of the new drug, click here

  • Perspectives

    • Chris Watts is president of the Indiana Fiscal Policy Institute.

      Revenue Forecast Shapes State Spending – And Surplus - Negotiations

      This week, the State Budget Committee heard an updated revenue forecast that could best be described as overcast but not stormy – yet.  Sales taxes, the largest source of state revenue, fared well from the December forecast – down a modest $15 million over the 2020-21 budget (and likely to be buoyed by new policies for online hotel and retail sales taxes moving through the legislature).  Individual income taxes showed a more dramatic decline, continuing a...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      Tech Vets Purchase Popular Indy Nightclub

      A group of Indianapolis tech entrepreneurs has bought a popular nightclub in the city's Broad Ripple neighborhood. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they will retain the Vogue's current staff to manage the venue's day-to-day operations. The new owners say they will detail plans to reinvigorate the Vogue through enhanced fan experience and engagement in the coming months. Tobias, Kraege and Davis purchased the Vogue...

    • (photo courtesy WorkOne Northwest Indiana)

      Job Fair Set For Michigan City

      Officials in LaPorte County will Thursday host the fourth annual Michigan City Community Job Fair. More than 60 employers, universities, training providers, skilled trades and community organizations will be on hand to discuss job opportunities and career paths.

    • Chinese Company Adding Hundreds of Indiana Jobs

      A Chinese automotive brake and suspension system manufacturer has announced plans to set up its first U.S. production facility inside Progress Park in Greenfield. BeijingWest Industries Co. Ltd., whose customers include Audi, BMW, General Motors and Porsche, will invest more than $80 million to build the 276,000 square-foot plant, creating up to 441 high-wage jobs by 2021. Greg Dronen, global facilities director for BWI, tells Inside INdiana Business the company plans to...

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      New Vogue Owners Plan Enhancements For 'Historic' Venue

      The new owners of the Vogue in Indianapolis say the venue combines their passions inside and outside of their roles as tech entrepreneurs. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they are hoping to increase the frequency and variety of events at the Broad Ripple venue while enhancing the experience for artists and patrons. During an interview with Inside INdiana Business, Tobias said he and is partners are also investing in...

    • During construction, traffic will be diverted.

      Angola Runs for Spot on 'Best Historic Small Town' List

      Angola is representing the Hoosier state as a nominee for Best Historic Small Town for USA Today’s 10Best Reader’s Choice Travel Awards. The town is being featured for its Civil War monument and historic movie house.