Bone Therapeutics Successfully Raises EUR 3.3 Million in Private Placement

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Gosselies, Belgium, 3 December 2021, 7am CET – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the cell therapy company addressing unmet medical needs in orthopedics and other diseases, today announces that it raised EUR 3.3 million in gross proceeds through an equity private placement of 4,832,352 new shares at an issue price of EUR 0.68 per share with existing and new institutional investors.

The gross proceeds will be used to advance Bone Therapeutics’ lead orthopedic asset, ALLOB, through mid-stage clinical development. The funds will also support the acceleration of the development of the new iMSC cell and gene therapy platform to address a broader array of underserved clinical indications outside orthopedics.

“This financing provides the support needed for Bone Therapeutics to accelerate the development of its novel, next generation iMSC platform. This platform will be used by Bone Therapeutics to develop cell and gene therapy products that have strong anti-inflammatory and immunomodulatory properties for the treatment of acute life-threatening unmet medical diseases. Bone Therapeutics has signed a number of agreements for the development of this platform, as well as appointed a world class scientific advisory board specifically for the development of this platform,” said Miguel Forte, MD, PhD, Chief Executive Officer of Bone Therapeutics. “The financing will also provide the support necessary for Bone Therapeutics to continue the mid-clinical progress of our lead asset ALLOB as we complete the final licensing agreement to transfer global rights to Link Health. This agreement will reduce Bone Therapeutics future costs and enable us to concentrate fully on the development of the iMSC platform.”

In addition, Bone Therapeutics expects to complete the final licensing agreement for the global rights of ALLOB with Link Health Pharma Co., Ltd by the end of 2021. This agreement would include R&D cost reimbursement from Link Health to Bone Therapeutics and commercial milestone payments of up to EUR 60 million in total and tiered royalties on net sales of up to 25% from Link Health to Bone Therapeutics. This licensing agreement would substantially reduce the development costs of Bone Therapeutics in the coming years.