Gosselies, Belgium, 29 April 2020, 7am CET – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases, today announces that it secured EUR 11.0 million financing. The financing will be used to advance both of its key assets, ALLOB and JTA-004, through late stage clinical development. The financing operation consists of EUR 4.75 million bridge loans, EUR 1,26 million in equity private placement (immedi ate conver sion of CBs by existing shareholders and, on an as-needed basis, a EUR 4.99 million in private placement of convertible bonds (CBs). The bridge loans are still subject to obtaining a credit assurance, which is pending regulatory approvals expected in May 2020.
“This current financing will allow us to continue the strong progress of the late stage development of our innovative treatment solutions. It will additionally provide support for our wider activity during the measures taken by international governments to combat the global COVID-19 pandemic,” said Miguel Forte, MD, PhD, Chief Executive Officer of Bone Therapeutics. “This support results from the potential of our allogeneic cell therapy platform and enriched protein solution to transform the lives of patients with debilitating bone conditions. We will continue our preparations for when the sites selected for the approved clinical studies with ALLOB and JTA-004 can resume their normal operations on a country per country basis.”