Bone Therapeutics secures EUR 11.0 million financing - Seite 2

Subject to the completion of the current financing operation, supporting the company’s further development and strengthen its balance sheet, Bone Therapeutics expects to have a runway into Q1 2021. The secured 11.0 million financing combines:

• EUR 4.75 million bridge loans provided by commercial banks and Sambrinvest, conditional upon obtaining a credit assurance which is pending regulatory approvals expected in May;
• EUR 1.26 million equity by existing shareholders and;
• Flexible⁽¹⁾ EUR 4.99 million of convertible bonds to be used if and when necessary.

Bone Therapeutics intends to pursue a capital raise when favorable market conditions are met. Existing shareholders have already taken a pre-commitment to participate.

The specific terms of the CBs can be found in the Investor section of Bone Therapeutics’ website.

 ⁽¹⁾ The Company may at any time stop the program without penalty.

About Bone Therapeutics

Bone Therapeutics is a leading biotech company focused on the development of innovative products to address high unmet needs in orthopedics and bone diseases. The Company has a broad, diversified portfolio of bone cell therapies and an innovative biological product in later-stage clinical development, which target markets with large unmet medical needs and limited innovation.

Bone Therapeutics is developing an off-the-shelf protein solution, JTA-004, which is entering Phase III development for the treatment of pain in knee osteoarthritis. Positive Phase IIb efficacy results in patients with knee osteoarthritis showed a statistically significant improvement in pain relief compared to a leading viscosupplement. The clinical trial application (CTA) for the pivotal Phase III program has been approved by the relevant authorities allowing the start of the study.

Bone Therapeutics’ other core technology is based on its cutting-edge allogeneic cell therapy platform (ALLOB) which can be stored at the point of use in the hospital, and uses a unique, proprietary approach to bone regeneration, which turns undifferentiated stem cells from healthy donors into bone-forming cells. These cells can be administered via a minimally invasive procedure, avoiding the need for invasive surgery, and are produced via a proprietary, scalable cutting-edge manufacturing process. Following the CTA approval by the Belgian regulatory authority, the Company is ready to start the Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, using its optimized production process.