Oss, The Netherlands – June 16, 2016 – Osteo-Pharma BV, a Life Sciences company focusing on the development of local treatments to improve the healing of bone fractures and defects, announces today that it has received an innovation credit of up to € 2 million from the Rijksdienst voor Ondernemers (RVO), an agency executing programs for the Dutch Ministry of Economic Affairs, Agriculture and Innovation. The innovation credit will be applied to support the development of Osteo-Pharma’s lead product OP-001 for local bone healing. Under the terms of the agreement, Osteo-Pharma receives up to € 2,098,239 to support pre-clinical and clinical stages of the project. The credit will become repayable subject to the commercial success of the project. "We are delighted to receive the Innovation Credit for our lead program, as these funds are only provided to innovative projects with strong commercial prospects," said Jan Gossen, Chief Executive Officer of Osteo-Pharma. "This credit will allow us, upon successful pre-clinical studies, to take OP001 into clinical development for treatment of bone fractures”. OP001 is a novel combination product to enhance the healing of bone fractures and defects. The project is currently in late stage pre-clinical stages.
About Osteo-Pharma Osteo-Pharma is a Life Sciences company focused on the development of local treatments to improve the healing of bone fracture and defects. It’s proprietary OsteoActivator platform is used to develop biodegradable films, microspheres and coatings for implants with sustained release of small molecule drugs that enhance bone formation while simultaneously inhibiting bone resorption. The company is currently in mid-late stage pre-clinical development with various projects and anticipates to initiate the first human clinical trials in the course of 2019. For more information, please contact: Osteo-Pharma BV Jan Gossen CEO email@example.com www-osteo-pharma.com