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- Streamlined strategic priorities with primary focus on allogeneic pipeline - Strong progress in clinical development of allogeneic platform ALLOB® - Further demonstration of efficacy of autologous PREOB® in osteonecrosis - Cash at end of 2016: EUR 20.3 million - Management team strengthened with appointments of Thomas Lienard (CEO), Benoît Champluvier (CTMO) and Miguel Forte (CMO)
Thomas Lienard, CEO, and Wim Goemaere, CFO, will host a conference call today at 10:00 CET / 09:00 GMT. To access the conference call, please dial one of the appropriate numbers below quoting the conference ID:
Belgium: +32 (0)81 70 00 61
France: +33 (0) 805 63 20 56
US: +1 (866) 966 9439
UK: +44 (0) 1452 555 566
Conference ID: 81483630
The presentation for the call will be made available on the Investors section of the Bone Therapeutics website shortly before the call. A replay will be available through dialling the following number +44 (0)1452 550 000 / +33 (0) 805 11 13 37 and by using the conference ID: 81483630#
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 reports its full year results for the year ending 31 December 2016, prepared in accordance with IFRS as adopted by the European Union.
Thomas Lienard, CEO of Bone Therapeutics commented: "Over the past year Bone Therapeutics has undergone an important transition, during which we have seen a growing body of encouraging data around the safety and efficacy of our allogeneic bone cell therapy product ALLOB®, underpinning our confidence in the technology. Following a review of our portfolio and priorities, we have decided to focus our clinical strategy around our allogeneic platform, which we think offers significant commercial advantages due to its clinical benefits, scalability, cost-effectiveness and relevance for large addressable markets with high unmet need. During the year, the Company has maintained its strong focus on cash burn, ending 2016 with EUR 20.3 million, slightly ahead of expectations.
"With the appointment of Benoît Champluvier as Chief Technology and Manufacturing Officer last year, we are also focusing on strengthening our in-house manufacturing expertise, ensuring that the Company is ready to take its products to market in the future. Together with the recent appointment of Miguel Forte as the new Chief Medical Officer to strengthen the leadership of our development capabilities, we believe we have the right team in place to focus on advancing our unique bone cell therapy programmes into late-stage trials and towards commercialisation."
"For 2017, we are expecting potential value inflection points in the second half of this year from our delayed-union fractures and spinal fusion clinical programmes. We look forward to moving ahead to bring this unique technology to patients and to deliver value for investors."
Source: Bone Therapeutics