Novadip Appoints Soumya Chandramouli as CFO to Propel Growth
Investor - People | Apr 02, 2025 | New Science Ventures LLC
Novadip Biosciences, a late-stage clinical biotechnology company specializing in regenerative medicine, has announced the appointment of Soumya Chandramouli as its new Chief Financial Officer. With 25 years of experience, Chandramouli is expected to play a crucial role as Novadip transitions to a commercial entity, targeting markets in the US, EU, and Japan by 2027. Her previous financial leadership roles, including her tenure at IBA Group, involved managing significant fundraising efforts and leading international financial teams. Novadip is currently planning a €50M Series C funding round to support its clinical trials aimed at rare pediatric conditions with its lead product, NVD003. The company is also working on advancing its pipeline of innovative therapies, with future commercial deployments seeking to expand its clinical indications. The appointment is a strategic move to strengthen Novadip's financial planning as it prepares for commercial viability and market access.
Sectors
- Biotechnology
- Private Equity
Geography
- Belgium – Novadip Biosciences is headquartered in Belgium, where it was founded and continues to base its operations and research activities.
- United States – Novadip Biosciences plans to conduct clinical trials in the US as part of its international expansion strategy.
- European Union – The EU is a key market for Novadip's future commercial activities as it plans to broaden its reach into European healthcare markets.
- Japan – Japan is part of Novadip's strategic market targets for its future products in regenerative medicine.
Industry
- Biotechnology – Novadip Biosciences operates in the Biotechnology industry, focusing on regenerative medicine and developing innovative therapies for bone and tissue repair.
- Private Equity – New Science Ventures LLC, a private equity firm, is a significant backer of Novadip Biosciences, indicative of the private equity industry's role in financing early- to late-stage biotech companies.
Financials
- 500M – Revenues of IBA Group, the previous company where Soumya Chandramouli served as CFO.
- 93M – Private equity-backed fundraising amount for a life sciences spin-off in Belgium, contributed by Soumya Chandramouli.
- 50M – Planned Series C funding round by Novadip to conduct Phase 2b/3 clinical trials.
- 88M – Total equity and non-dilutive funding raised by Novadip since its inception.
- 13.5B – Novadip's targeted total addressable market for its products.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Novadip Biosciences | Target Company | Company | A late-stage clinical biotechnology company specializing in regenerative medicine, focusing on bone and tissue repair. |
| Soumya Chandramouli | CFO | Person | Appointed as Novadip's Chief Financial Officer, bringing extensive experience in financial management and fundraising. |
| New Science Ventures LLC | Private Equity Firm | Company | A private equity firm backing Novadip Biosciences. |
| Denis Dufrane | CEO | Person | CEO of Novadip Biosciences and a key figure in the company's leadership and strategic direction. |
| IBA Group | Former Employer of Soumya Chandramouli | Company | A global leader in medical device and healthcare sectors, previously served by Soumya Chandramouli as CFO. |
| Virginie Cartage | Former CFO | Person | Previous CFO who contributed significantly to Novadip's development over the decade. |
| Andrew Lloyd & Associates | PR Firm | Company | Public relations firm handling media and analyst contact for Novadip. |