NOVADIP BIOSCIENCES Appoints Jeff Abbey as CEO

MONT-SAINT-GUIBERT, Belgium, December 12, 2018 /PRNewswire/ --

NOVADIP BIOSCIENCES, a regenerative medicine company and pioneer in the growth of 3-dimensional tissues derived from adipose stem cells for hard and soft tissue reconstruction, announces that Jeff Abbey will be appointed chief executive officer, effective early 2019, succeeding Jean-Francois Pollet.  Mr. Abbey will join Novadip after more than 15 years at Argos Therapeutics, Inc., an immuno-oncology cell therapy company, including serving as president and chief executive officer for the past eight years.

(Photo:https://mma.prnewswire.com/media/796894/NOVADIP_BIOSCIENCES_Jeff_Abbey.jpg )

"With his extensive experience in cell therapy combined with his expertise in equity financing, business development and strategy, Jeff possesses the skills necessary to lead Novadip through the next phases of its development," said Eric P. Pâques, chairman of the board of directors of Novadip. "The Board is highly confident that Jeff's wealth of international experience and proven leadership will help Novadip in its mission to become a leading regenerative medicine company."

Mr. Abbey joined Argos Therapeutics in 2002, leading the company's business development efforts until becoming president and chief executive officer in 2010. He led the company through completion of a phase 3 trial, raised over $250 million in equity financings, including an initial public offering (Nasdaq), and completed numerous partnering transactions with international biopharmaceutical companies. Mr. Abbey received a bachelor's degree from Brown University and an MBA and JD from the University of Virginia.

"I am excited to have the opportunity to join Novadip," said Jeff Abbey. "The technology platform and portfolio of products the company is developing offer tremendous opportunities to provide unique solutions to patients with catastrophic conditions in the fields of bone disease and skin regeneration. I look forward to working with the founders and the outstanding team of Novadip to bring truly innovative therapies to market and build a preeminent biotechnology company."

Novadip's lead program is an autologous three-dimensional cell therapy that has completed enrolment of a phase I/IIa trial in spinal fusion patients. The company recently initiated a second clinical program that is currently enrolling patients with non-healing bone fractures (bone non-union). In addition, Novadip is also developing a regenerative skin product based on its cell therapy technology platform, as well as utilizing the platform to enter entirely novel avenues with the potential to lead to breakthrough allogeneic products.

Chairman Eric P. Pâques adds: "As the founding CEO, Jean-François Pollet, along with co-founder and CSO, Denis Dufrane, has led Novadip through a number of important milestones and positioned the company in a strong position to succeed. The Board would like to express its gratitude to Jean-François Pollet."

About NOVADIP BIOSCIENCES:

Founded in 2013 by Dr. Denis Dufrane and Dr. Jean-François Pollet, Novadip Biosciences is a regenerative medicine spin-off company from Université Catholique de Louvain (UCL) and Cliniques Universitaires St-Luc. The creation of Novadip Biosciences was supported by the Louvain Technology Transfer Office (LTTO), Sopartec and VIVES II. A Series A Round of EUR 27.7 million was raised in 2015 with New Science Ventures, Fund+, SRIW, Intégrale, Epimède, VIVES II, Nivelinvest and private investors. Novadip Biosciences pioneers the growth of 3-dimensional biologics based on adipose-derived stem cells (ASC), to regenerate hard and soft tissues.

http://www.novadip.com

CONTACT: Jeff Abbey, +32(10)779-220, jeff.abbey@novadip.com, info@novadip.com

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