Novosteo acquired by Quince Therapeutics

Company Summary

Quince Therapeutics, Inc. (Nasdaq: QNCX) previously Cortexyme, Inc. (Nasdaq: CRTX) is a biopharmaceutical company advancing innovative precision therapeutics targeting debilitating and rare diseases. Cortexyme acquired Novosteo in May of 2022.

Novosteo’s mission is to develop and deliver new drugs for the treatment of bone injury and diseases that impact patients’ morbidity, mortality and loss of mobility and productivity associated with bone fractures, bone metastasis and infection. Approximately 6.3 million bone fractures occur each year in the United States. This problem is compounded by a generally aging population in which the frequency of osteoporosis and the rate of life-threatening fractures is dramatically increased. Hip fractures alone are expected to climb by 160% to 500,000 fractures per year by 2040. Despite current medical therapies, approximately one quarter of those 65 and older with hip fractures will die within a year due to fracture-associated complications.

Based on Novosteo’s proprietary chemistry approach to bone targeting, the company has discovered novel biologics that accelerate bone regeneration by delivering anabolic agents preferentially to fracture surfaces. Novosteo has designed a series of fracture-targeted drugs that concentrate a drug’s healing power specifically at the fracture site, thereby greatly accelerating and improving the healing process and minimizing loss of mobility, prolonged time away from work, physical pain/discomfort.

Year Founded:  2017

Management Team
• Dirk Thye, MD., CEO
• Brendan Hannah, COO
• Karen Smith, MD, PhD, CMO

Location:  South San Francisco, CA


Company Status:  Public

Year Invested:  2020

Investment Status:  Current

Board Member:
Alex Andrianopoulos