BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the bone cell therapy company addressing high unmet medical needs in the field of orthopaedics and bone diseases, today provides a business update for the first quarter ended 31 March 2017.
Thomas Lienard, CEO of Bone Therapeutics commented: "During the first quarter of 2017 we have continued to execute on our new business strategy, focused around advancing our allogeneic bone cell therapy platform and strengthening the Company’s clinical capabilities in preparation for commercialisation. Over 40 patients have now been treated safely with our allogeneic product ALLOB®, giving us strong confidence in the potential of our approach.
We look forward to reporting on key inflection points later this year, with interim data from our delayed-union fractures and spinal fusion clinical programmes in September as we move ahead to bring this unique technology to patients and to deliver value for investors."
Good cash management will remain a key priority, with a strong focus on net cash burn. Cash burn for the full year 2017 is expected to be approximately EUR 15 million. Based on its new strategic priorities, the Company provides guidance that it has sufficient cash to carry out its strategic objectives into Q2 2018.
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.
Our 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.
Our 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 and non-union fractures.
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