BioSenic and its restructuring practitioner (Me Yves Brulard) submit a global restructuring plan covering the years 2024-2030 to the Enterprise Court of Nivelles - Seite 2

The plan is based on the non-binding offer of funding from a fund, in particular, to finance a Phase 3 clinical trial on Graft versus Host disease (as announced by BioSenic, via press release, on 8 December 2023). BioSenic will announce, by way of a new press release, the results of the votes of the creditors and after the terms and conditions that will be decided by the Court, as well as the Court's decisions as soon as they are known. This judgement would significantly reduce the debt.

François Rieger, PhD, President of the Board and CEO of the BioSenic Group, said: "An effort to reorganise the assets of BioSenic has now been accompanied by a proposed adjustment to the company's liabilities. This should enable our biotech to regain momentum by focusing its efforts on its most promising projects, in particular a Phase 3 clinical trial for the treatment of chronic Graft versus Host disease. These projects, now at the clinical trial stage, will generate value for all those who have invested financially in the adventure that is now taking shape. We expect decisive results for patients suffering from chronic diseases of the immune system, for which there is currently no medical need.".

About BioSenic

BioSenic is a leading biotech company specializing in the development of clinical assets issued from its Medsenic’s arsenic trioxide (ATO) platform. Key target indications for the autoimmune platform include graft-versus-host-disease (GvHD), systemic lupus erythematosus (SLE), and now systemic sclerosis (SSc).
Following the merger in October 2022, BioSenic combined the strategic positionings and strengths of Medsenic and Bone Therapeutics. The merger specifically enables Medsenic/Biosenic to develop an entirely new arsenal of various anti-inflammatory and anti-autoimmune formulations using the immunomodulatory properties of ATO/oral ATO (OATO).

BioSenic is based in the Louvain-la-Neuve Science Park in Mont-Saint-Guibert, Belgium. Further information is available at http://www.biosenic.com.

About the main Medsenic/BioSenic technology platform

The ATO platform provides derived active products with immunomodulatory properties and fundamental effects on the activated cells of the immune system. One direct application is its use in onco-immunology to treat GvHD (Graft-versus-Host Disease) in its chronic, established stage. cGvHD is one of the most common and clinically significant complications affecting long-term survival of allogeneic hematopoietic stem cell transplantation (allo-HSCT).