Purdue Lands $1.7mm to Develop Novel Fracture Drug
A broken bone may be just an inconvenience to a young person but for one who is elderly it can be life threatening.
The Journal of Internal Medicine reported in 2017 that "one in three adults aged 50 and older die within 12 months" from fracture-related complications following a fall that breaks a bone. The Journal reports that Medicare paid $31 billion in hip fracture treatment in 2015.
The National Science Foundation has awarded a $1.7 million grant to a Purdue University affiliated startup that will help speed its way to human trials of a product that shows great promise in accelerating and improving the healing of broken or compromised bones. The drug concentrates at the fracture site following systemic administration while reducing its exposure to the rest of the body.
The startup developing the drug is Novosteo. It was co-founded by the father and son team of Philip S. Low, Ph.D., the Ralph C. Corley Distinguished Professor of Chemistry, and Stewart A. Low, a postdoctoral staff member in Purdue's Department of Chemistry. Eli Lilly pharma vet Dan Hasler serves as president of Novosteo.
"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 grant will support the drug’s efficacy testing and preparation for Phase 1 clinical human trials. According to the press release, Novosteo has already completed preclinical studies that successfully demonstrate how the new targeted drug heals bone fractures faster and better than a similar untargeted drug.
Stewart Low said, “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."