Publication date: 25/04/2018
The bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases, today reports its full year results for the year ending 31 December 2017, prepared in accordance with IFRS as adopted by the European Union.
Thomas Lienard, CEO of Bone Therapeutics, commented: “2017 was a year of important advances for Bone Therapeutics towards our goal of creating efficacious and commercially scalable bone cell therapy products to address large underserved markets. We have made significant progress in the development of our pipeline products with delivery of important clinical data for our allogeneic cell therapy product, ALLOB®, including strong interim efficacy and safety results for the Phase IIA lumbar spinal fusion study and early conclusion of the Phase I/IIA study for delayed-union fractures following positive interim efficacy data.”
“In line with our growth strategy, we have also strengthened our Board and management team with the appointment of Jean Stéphenne as Chairman and Jean-Luc Vandebroek as Chief Financial Officer. We have also made good progress in establishing our manufacturing infrastructure as we continue to mature and develop towards becoming a commercial stage company. In addition, we recently strengthened our balance sheet to enable continued execution of our strategy.”
“With our strengthened balance sheet and our strong team, we look forward to further advancing our pipeline and driving our unique value proposition forward in the field of bone cell therapy.”
Financial and Corporate Highlights (including post-period):
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.
Bone Therapeutics’ technology is based on a unique, proprietary approach to bone regeneration, which turns undifferentiated stem cells into “osteoblastic”, or bone-forming cells. These cells can be administered via a minimally invasive procedure, avoiding the need for invasive surgery.
The Company’s primary clinical focus is ALLOB®, an allogeneic “off-the-shelf” cell therapy product derived from stem cells of healthy donors, which is in Phase II studies for the treatment of delayed-union fractures and spinal fusion. The Company also has 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.
Bone Therapeutics’ cell therapy products are manufactured to the highest GMP standards and are protected by a rich IP estate covering nine patent families. Further information is available at: www.bonetherapeutics.com.