€10.4m · Debt · Healthtech · Mont-Saint-Guibert, Belgium
Novadip Biosciences, a Mont-Saint-Guibert-based regenerative-medicine company, has secured €10.4m in convertible financing led by New Science Ventures. Fund+, Wallonie Entreprendre, VIVES Fund, ORSA Tech, Sambrinvest, Noshaq and Invest.BW also participated. The capital will fund completion of the pivotal Phase 3 trial for NVD003, its autologous cell therapy for congenital pseudarthrosis of the tibia, and preparation of a US Biologics License Application.
The new financing follows a €9.6m convertible loan secured last year, taking convertible financing since June 2025 to €20m. Novadip says reaching the €10.4m target also unlocks the final tranche of an €18m European Investment Bank venture-debt agreement signed in 2023.
Financing is tied to clinical milestones
Late-stage biotech funding is less about adding product features than buying enough runway to reach evidence and regulatory milestones. For Novadip, the pivotal trial and US filing are the steps that can turn NVD003 from a clinical programme into an approvable product, so execution risk is concentrated in trial completion, data quality and regulatory preparation.
The financing structure also links private capital with an existing EIB facility. By completing the convertible round, Novadip can access another committed debt tranche without presenting the full €18m facility as new money. That combination extends its path towards a planned 2028 market authorisation while keeping the distinction between this round, cumulative convertible financing and prior venture debt clear.
