
Bone Therapeutics is a bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases.
They announced positive interim results for its ALLOB Phase I/IIA delayed-union study and its ALLOB Phase IIA spinal fusion study.
The fundraising was required to finance ongoing R&D programs.
Interim results for the PREOB Osteonecrosis study and launch of ALLOB Ph IIB are expected in 2018 H2.
Bone Therapeutics is a leading cell therapy company addressing high unmet needs in orthopaedics and bone diseases. Based in Gosselies, Belgium, the company has a broad, diversified portfolio of bone cell therapy products in clinical development across a number of disease areas targeting markets with large unmet medical needs and limited innovation.
Their technology is based on a unique, proprietary approach to bone regeneration, which turns undifferentiated stem cells into “osteoblastic”, or bone-forming cells.
The company’s primary clinical focus is ALLOB®, an allogeneic “off-the-shelf” cell therapy product derived from stem cells of healthy donors. Additionally, they also have an autologous bone cell therapy product, PREOB®, obtained from patient’s own bone marrow and currently in Phase III development for osteonecrosis of the hip.
Bryan, Garnier & Co acted as the Sole Bookrunner for the offering.
A total amount of €19.45 million in committed capital has been subscribed during the offering.
The flexible convertible bond product allowed for immediate conversion into ordinary shares and/or differed investments.
The accelerated bookbuilding offering was open to institutional investors and private investors.
Convertible bonds and/or new ordinary shares were issued at a 8% discount.
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