Bone Therapeutics announces closing of private placement

Gosselies, Belgium, 16 December 2020, 7am CET – BONE THERAPEUTICS SA (Euronext Brussels and Paris: BOTHE; or “Bone Therapeutics”), the cell therapy company addressing unmet medical needs in orthopedics and other diseases, today announces the closing of the previously announced private placement with investors having purchased 4,408,881 new shares at an issue price of EUR 2.25 per share resulting in gross proceeds of approximately EUR 10 million (the "Private Placement"). With the total gross proceeds raised through the Private Placement, Bone Therapeutics anticipates having sufficient cash to carry out its strategic objectives until end Q4 2021.

Via this Private Placement, Bone Therapeutics has raised approximately EUR 10 million and placed 4,408,881 new shares with current and new institutional investors both in Europe and in the US at a price of EUR 2.25 per share. This brings the total number of shares (post-transaction) to 16,478,168. The new shares will be admitted to trading on the regulated markets of Euronext Brussels and Euronext Paris on 16 December 2020 and have the same rights and benefits as, and rank pari passu in all respects with, the existing and outstanding shares of Bone Therapeutics.

Belfius Bank NV/SA, in cooperation with Kepler Cheuvreux SA and its affiliates, acted as exclusive placement agent in Europe and Maxim Group LLC acted as exclusive placement agent in the U.S. In relation to the Private Placement, Bone Therapeutics has agreed with the placement agents a market customary 180-days standstill period on future share issuances, waivable by the placement agents and subject to customary exceptions. 

A copy of the report prepared by the board of directors of Bone Therapeutics in accordance with the Belgian Companies and Associations Code further describing, among others, the capital increase, the consequences thereof and the justification of the issue price is made available in the Investors’ section (Regulated Information – Share and Bond Issues) on Bone Therapeutics’ website.

^{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 other diseases. The Company has a, diversified portfolio of cell and biologic therapies at different stages ranging from pre-clinical programs in immunomodulation to mid-to-late-stage clinical development for orthopedic conditions, targeting markets with large unmet medical needs and limited innovation.}

^{Bone Therapeutics is developing an off-the-shelf next-generation improved viscosupplement, JTA-004, which is currently in Phase III development for the treatment of pain in knee osteoarthritis. Consisting of a unique combination of plasma proteins, hyaluronic acid - a natural component of knee synovial fluid, and a fast-acting analgesic, JTA-004 intends to provide added lubrication and protection to the cartilage of the arthritic joint and to alleviate osteoarthritic pain and inflammation. Positive Phase IIb efficacy results in patients with knee osteoarthritis showed a statistically significant improvement in pain relief compared to a leading viscosupplement.}

^{Bone Therapeutics’ core technology is based on its cutting-edge allogeneic cell therapy platform with differentiated bone marrow sourced Mesenchymal Stromal Cells (MSCs) which can be stored at the point of use in the hospital. Currently in pre-clinical development, BT-20, the most recent product candidate from this technology, targets inflammatory conditions, while the leading investigational medicinal product, ALLOB, represents a unique, proprietary approach to bone regeneration, which turns undifferentiated stromal cells from healthy donors into bone-forming cells. These cells are produced via the Bone Therapeutics’ scalable manufacturing process. Following the CTA approval by regulatory authorities in Europe, the Company is ready to start the Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, using its optimized production process. ALLOB continues to be evaluated for other orthopedic indications including spinal fusion, osteotomy, maxillofacial and dental.}

^{Bone Therapeutics’ cell therapy products are manufactured to the highest GMP standards and are protected by a broad IP (Intellectual Property) portfolio covering ten patent families as well as knowhow. The Company is based in the BioPark in Gosselies, Belgium. Further information is available at www.bonetherapeutics.com.}