Keeping people moving


Novosteo Inc accelerating bone fracture repair

Fracture Targeted Technology

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About Novosteo

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.  Other fractures will impact lives by causing loss of mobility, prolonged time away from work, physical pain/discomfort and a need for outside assistance. 


Novosteo was founded to reduce the morbidity, mortality and loss of productivity associated with bone fractures.  Based on discoveries of agents that accelerate bone regeneration and breakthroughs in methods to target these agents selectively 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.  The mission of Novosteo is to reduce the debilitating and often life-threatening effects of bone fractures.



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Executive Chair

Scott is a biotechnology entrepreneur with a passion for developing medicines to help patients who currently have few or no effective therapeutic options for battling their diseases.


Scott currently serves as Executive Chair for Novosteo, a startup out of the Low Lab at Purdue’s Institue for Drug Discovery developing novel systemic bone-targeted therapies, initially focused on speeding fracture repair. He is also Chief Executive Officer at Dallas-based TissueGen, a company advancing extended-release biologics and small molecules into human trials based on it proprietary polymer technologies.


Prior to that, Scott served as the Chief Executive Officer of Ampliphi Biosciences Inc., a publicly-traded company focused on developing novel antibacterial agents to fight life-threatening antibiotic-resistant infections. Prior to that, Scott was Co-Founder and served for four years as Chief Executive Officer of Aspyrian Therapeutics Inc. (now called Rakuten Medical), a company developing novel, light-activated cancer treatments, the most advanced of which is currently in a global phase III, registration-enabling study in relapsed, inoperable head and neck cancer. Prior to that, Mr. Salka was Co-Founder and served almost ten years as Chief Executive Officer of Ambit Biosciences Corporation, a company that developed a novel platform for discovering small molecule drugs for oncology, autoimmune and inflammatory diseases, that was acquired by Daiichi Sankyo for over $400 million in 2014. During Mr. Salka’s tenure at Ambit, he transformed the company from a discovery tools and service business into a fully capable drug discovery and development enterprise that advanced quizartinib, the first selective and potent FLT-3 inhibitor, into clinical development for the treatment of AML patients with FLT-3 mutations. Prior to founding Ambit in 2001, Mr. Salka served as the President and Chief executive officer of two privately held genomics companies, Arcaris, Inc. and 454 Corporation, a sequencing company sold to Roche for over $400MM in 2007. He also previously co-founded one of the first commercial genomics companies, Sequana Therapeutics, Inc., a pioneer in the effort to commercialize the international Human Genome Project. From February 2012 to March 2014, Mr. Salka served on the Board of Directors of Sorrento Therapeutics, Inc. Mr. Salka has also served on the Board of Directors of San Diego State University College of Business Administration. He received his M.B.A. from Carnegie Mellon University and his B.S. in finance from San Diego State University.

Stewart A. Low Novosteo Founder and CSO

Stewart Low is the primary inventor of Novosteo's technology.  He has worked on the development of fracture-targeted drugs for the past ten years. Stewart has also spent time conducting research in the autoimmune division of Endocyte Inc. and in the device-testing group of Nelson Laboratories.  He received his bachelor's degree in microbiology from Brigham Young University in 2008 and his Ph.D. from the University of Utah in Bioengineering in 2015. Stewart has also worked as a postdoctoral research associate from 2015 until 2018.

Philip S. Low Novosteo Founder

Philip is the Presidential Scholar in Drug Discovery and the Ralph C. Corley Distinguished Professor of Chemistry at Purdue University.  He has spent more than 40 years exploring novel methods of targeted drug development and characterizing the structure and function of the human erythrocyte membrane.


During this period, he published over 450 scientific articles in peer-reviewed journals and holds over 150 US patents/patents pending. His pioneering drug-delivery research has focused on the design and synthesis of targeting ligands that have proven successful in the targeted delivery of therapeutic and imaging agents to both cancer cells and aberrant immune cells involved in inflammatory and autoimmune diseases.  Eight drugs stemming from this research are currently undergoing human clinical trials and four companies (Novosteo, Endocyte, HuLow, and On Target Laboratories) have been founded to commercialize these discoveries. Philip has served on several National Institutes of Health Study Sections and has received an NIH Merit Award. He also received both of Purdue's awards for outstanding research as well as the university’s highest career achievement recognition for a faculty member, the Morrill Award.  Other awards received include the American Chemical Society's (ACS) George & Christine Sosnovsky Award for Cancer Research, the Roland T. Lakey Award, the Mathias P. Mertes Award, and the American Association for Cancer Research (AACR) Award for Outstanding Achievement in Chemistry in Cancer Research.  He was elected to the National Academy of Inventors in 2015.

Philip received his BS in Chemistry from Brigham Young University in 1971 and his PhD in Biochemistry from the University of California, San Diego in 1975.

Franklyn G. Prendergast, M.D., Ph.D., is an emeritus professor in the Department of Molecular Pharmacology and Experimental Therapeutics and the Department of Biochemistry and Molecular Biology at Mayo Clinic in Rochester and emeritus Edmond and Marion Guggenheim Professor of Biochemistry and Molecular Biology. His distinguished career at Mayo Clinic included serving as Director for Research Mayo Clinic, Director of the Mayo Clinic Center for Individualized Medicine, and director of Mayo Clinic Cancer Center.


Dr. Prendergast was a member of the Board of Governors(1989-1996) for Mayo Clinic in Rochester. He has served on Mayo Clinic Board of Trustees continuously between (1992-2009) also has served on Mayo Clinic’s Board of Governors (1999-2006). Extramurally,  he held a Presidential Commission for service on the National Cancer Advisory Board. Dr. Prendergast also has served in numerous other advisory roles for the NIH and the National Research Council of the National Academy of Sciences, and he is a member of the board of directors of the Translational Genomics Research Institute and the Infectious Disease Research Institute (IDRI). He was a charter member of the Board of Advisors for the Division of Research Grants, now the Center for Scientific Review; the National Advisory General Medical Sciences Council; the Board of Scientific Advisors of the National Cancer Institute.

Dr. Prendergast's industry experience includes serving on the Board of Directors, Eli Lilly & Co. (1995-2017); Board of Directors, DemeRx (2010-2012); Board of Directors, Ativa Medical (2012-2015); Board of Directors, Infectious Disease Research Institute (1999-present).

Dr. Prendergast obtained his medical degree with honors from the University of West Indies and was a Rhodes Scholar at Oxford University where he earned an M.A. degree in physiology. Dr. Prendergast obtained his Ph.D. degree in biochemistry at the University of Minnesota.

Board member
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Board member

Isaac brings university entrepreneurship and incubation best practices to RBP. Before founding Research Bridge Partners, Mr. Barchas served as the director of the Austin Technology Incubator at the University of Texas at Austin. During his tenure with ATI, incubator companies and alumni raised nearly $1 billion dollars in the capital markets, and ATI received “best in class” awards from the Kauffman Foundation, the US Department of Energy, the Blackstone Charitable Foundation, the State of Texas, and others. Prior to ATI, Isaac worked with McKinsey & Co., serving as a leader of the North American healthcare practice and global organization practice. Isaac received his MS and JD from The University of Chicago and his AB from Stanford University.

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Board member

Daniel J. Hasler serves on the Novosteo Board.  Hasler held previous Purdue appointments include the Purdue Research Foundation's president and later its chief entrepreneurial officer. Over the past five years, under his leadership, Purdue has reached record numbers of patents, licenses, and technology commercialization based on ever-expanding Purdue research.


Prior to Purdue, Hasler served as the Secretary of Commerce for the State of Indiana and Chief Executive Officer of the Indiana Economic Development Corporation (IEDC). As Secretary of Commerce, Hasler attracted a record-breaking 254 companies to the State of Indiana in FY 2012.


He has an extensive 31-year career at Eli Lilly and Co., a Fortune 500 global pharmaceutical company headquartered in Indianapolis. While at Eli Lilly, Hasler served in a number of leadership positions, most recently as Vice President for Global Marketing, and was responsible for the commercial strategy and market performance of Lilly’s pharmaceutical portfolio. While VP for Global Marketing Hasler oversaw the launch of Lilly's osteoporosis drugs Forteo and Evista. He also was the Chief Marketing Officer for Eli Lilly USA. In 2010, Hasler was the recipient of the Lilly Lifetime Achievement Award.





Novosteo INC

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