NOT FOR PUBLICATION, DISTRIBUTION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT IS ILLEGAL TO DO SO

Regulated information

Includes a € 4.75 million bridging loan announced on April 29 and now fully granted

Gosselies, Belgium, May 7, 2020, 7 a.m. CEST – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the bone cell therapy company responding to significant unmet medical needs in orthopedics and bone diseases, today announces that it has received € 4.0 million following the issue, to existing investors, subordinated bonds with the option to convert. This allows Bone Therapeutics bond investors to be redeemed in company shares, with a conversion price of EUR 7.0 per share. This additional funding of 4.0 million euros was achieved one week after the round of funding of 11.0 million euros.

In addition, Bone Therapeutics confirms the granting of 4.75 million euros in bridging loans granted by commercial banks, detailed in the Release of funding of 11.0 million euros as of April 29, 2020. This follows that Sowalfin has received regulatory approval for credit insurance which covers bridge loans. The total amount of gross income committed for the two financing operations now amounts to € 15.0 million. This will further extend Bone Therapeutics’ lead until the second quarter of 2021.

Bone Therapeutics has secured this additional funding in the current financial climate thanks to our investors’ confidence in Bone Therapeutics as a business, as well as the unique potential of our innovative product portfolio. This recent total funding will allow us to execute our clinical development strategy and advance our promising product candidates towards commercialization and closer to patients.,” mentionned Miguel Forte, MD, PhD, Managing Director of Bone Therapeutics.Today’s combination of funding, along with that secured last week by Bone Therapeutics, now stands at more than € 15 million. This allows us to continue our activities on this sole basis until the second quarter of 2021. This mix also combines a range of financing more suited to Bone Therapeutics than the dilution of a traditional share issue.

The unsecured convertible bonds will be issued in registered form, redeemable at 100% of their principal amount with a maturity of 38 months and a coupon of 8% per year. The coupon will be payable annually. The conversion price of EUR 7.0 per share mitigates the dilution of existing shareholders in the event that the bonds are redeemed in ordinary shares of Bone Therapeutics. Specific terms of COs can be found in the Investors section from the Bone Therapeutics website.

About bone therapy

Bone Therapeutics is a leading biotechnology company focused on developing innovative products to address significant unmet needs in orthopedics and bone disease. The Company has a large and diversified portfolio of bone cell therapies and an innovative biologic in advanced clinical development, which targets markets with significant unmet medical needs and limited innovation.

Bone Therapeutics is developing a ready-to-use protein solution, JTA-004, entering phase III development for the treatment of pain in osteoarthritis of the knee. The positive Phase IIb efficacy results in patients with osteoarthritis of the knee 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 competent authorities allowing the start of the study.

Bone Therapeutics’ other core technology is based on its state-of-the-art Allogeneic Cell Therapy (ALLOB) platform which can be stored at the point of use in the hospital, and uses a unique and proprietary approach to bone regeneration , which transforms undifferentiated stem cells from healthy donors into bone-forming cells. These cells can be delivered via a minimally invasive procedure, avoiding the need for invasive surgery, and are produced via a proprietary and scalable state-of-the-art manufacturing process. Following the approval of the CTA 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.

The ALLOB platform technology has multiple applications and will continue to be evaluated in other indications including spinal fusion, osteotomy, and maxillofacial and dental applications.

Bone Therapeutics cell therapy products are manufactured according to the strictest GMP (Good Manufacturing Practices) standards and are protected by a broad portfolio of IP (Intellectual Property) covering ten patent families as well as know-how. The Company is based in the BioPark in Gosselies, Belgium. More information is available at www.bonetherapeutics.com.

Contacts

Bone Therapeutics SA
Miguel Forte, MD, PhD, President and CEO
Jean-Luc Vandebroek, Chief Financial Officer
Phone: +32 (0) 71 12 10 00
investor [email protected]

International media inquiries:
Communications Image Box
Neil Hunter / Michelle Boxall
Phone. : 44 (0) 20 8943 4685
[email protected] / [email protected]

For French media and investor inquiries:
NewCap Investor Relations & Financial Communication
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Phone: + 33 (0) 1 44 71 94 94
[email protected]

Certain statements, beliefs and opinions contained in this press release are forward-looking and reflect the current expectations and projections of the Company or, as the case may be, of the directors of the Company regarding future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and assumptions could have an unfavorable impact on the results and financial effects of the plans and events described herein. A multitude of factors, including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ materially from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Accordingly, the Company expressly disclaims any obligation or commitment to publish any update or revision to any forward-looking statement contained in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company, nor its advisers or representatives, nor any of its subsidiaries or its officers or employees guarantees that the assumptions underlying these forward-looking statements are free from error and accepts no responsibility as to the future accuracy of the statements. forward-looking statements. -the forward-looking statements contained in this press release or the actual occurrence of expected developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Leave a Reply

Your email address will not be published.