NetScientific PLC NetScientific invests in Breakout Labs' portfolio (0499Z)
08 Dezembro 2014 - 5:00AM
UK Regulatory
TIDMNSCI
RNS Number : 0499Z
NetScientific PLC
08 December 2014
NetScientific plc
('NetScientific' or 'the Group')
NetScientific invests in Breakout Labs' portfolio company
EpiBone
8 December 2014: NetScientific (AIM:NSCI), the global biomedical
and healthcare technology group, today announced it has made an
investment in EpiBone, a revolutionary bone reconstruction company
that allows patients to "grow their own bone". It is the Group's
fourth investment in a Breakout Labs portfolio company since
announcing its partnership with Peter Thiel's revolving
philanthropic fund in March 2014.
EpiBone's pioneering technology uses a scan of the patient's
bone defect and the patient's own stem cells to construct and
cultivate a bone graft with the precise anatomical fit to the
defect being treated. EpiBone will offer surgeons simplified
procedures and patients improved bone formation and regeneration,
with shorter recovery times, without the complications of synthetic
implants.
Based on 15 years of NIH-funded bone tissue engineering
research, EpiBone's technology was developed by Columbia Professor
Gordana Vunjak-Novakovic. The company is led by CEO, Nina Tandon, a
former post-doctoral fellow in the Vunjak-Novakoic laboratory and
Senior TED Fellow.
Farad Azima, CEO, NetScientific, commented: "EpiBone is another
excellent example of the revolutionary new technologies in which
Breakout Labs is identifying and investing. We look forward to
continuing to work with Breakout Lab's exciting new companies,
supporting a new wave of scientific innovation which could
transform many areas of healthcare."
Nina Tandon, CEO of EpiBone added: "We are very excited about
the support we've received from NetScientific at this key juncture
in our development program. We plan to utilize the funds to perform
key experiments that will pave the way towards clinical trials, and
eventually towards the clinic, where we hope our technology will be
able to truly transform patient lives."
-Ends-
About NetScientific
NetScientific is a global biomedical and healthcare technology
group that funds and develops technologies that offer
transformative benefits to people's lives and society through
improved diagnosis, prognosis and treatment. For more information,
please visit the website at www.NetScientific.net
About Breakout Labs
Breakout Labs, a program of the Thiel Foundation, is reshaping
the way early-stage science and technology companies are funded.
Breakout Labs supports 19 companies in areas ranging from food
science and biomedicine to clean energy. Breakout Labs provides up
to $350,000 for companies to achieve specific milestones that are
critical to their development. The program provides support in the
form of key introductions to potential follow-on funders,
refinement of business plans and presentations, an annual demo day
with potential investors, and resources that facilitate the process
of building their companies. Successful companies will return a
capped royalty stream and a small percentage of equity to Breakout
Labs and, thereby, contribute to the next generation of scientific
innovation. For more information, www.BreakoutLabs.org
About EpiBone
EpiBone is a Columbia University spin-out focused on producing
fully functional, patient specific, living bone and osteochondral
tissues for anatomically challenging defects that severely
debilitate the patient and limit quality of life. These defects,
whether rendered by trauma, congenital abnormalities, or cancer,
require precise, functional, patient specific substitute tissues.
EpiBone employs revolutionary, proprietary technology, protected by
a suite of patent applications and substantial technical know-how
of a world-class scientific hailing from Columbia and MIT. For more
information, please visit http://epibone.com/
Contact Details
NetScientific plc Tel: +44 (0) 20 3290 8877
Farad Azima
Peter Thoms
Liberum (NOMAD and Broker) Tel: +44 (0) 20 3100 2000
Chris Bowman / Christopher Britton
/
Thomas Bective
Instinctif Partners Tel: +44 (0) 20 7457 2020
Melanie Toyne-Sewell / Tim Watson Email: netscientific@instinctif.com
This information is provided by RNS
The company news service from the London Stock Exchange
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