Bone Therapeutics signs definitive subscription agreement for a maximum of EUR 5M convertible bonds facility with ABO
31 Maio 2022 - 02:00AM
Bone Therapeutics signs definitive subscription agreement for a
maximum of EUR 5M convertible bonds facility with ABO
REGULATED INFORMATION
Mont-Saint-Guibert, Belgium,
31 May 2022, 7am CEST – BONE
THERAPEUTICS (Euronext Brussels and Paris: BOTHE),
the cell therapy company addressing unmet medical needs in
orthopedics, today announces that it has signed the definitive
subscription agreement for a maximum EUR 5 million convertible
bonds (CBs) facility arranged by ABO Securities, through its
affiliated entity Global Tech Opportunities 15. The proceeds of the
financing will contribute to continuing to advance the clinical
development of Bone Therapeutics’ lead asset, its allogeneic bone
cell therapy, ALLOB.
ABO Securities has committed to subscribe to up
to EUR 5 million in CBs. The CBs will be issued and subscribed in
ten tranches. A first tranche of 10 CBs with an aggregate principal
amount of EUR 0.5 million will be subscribed by ABO before notary
by the end of this week or early next week. The issue and
subscription of the remaining nine tranches with a principal amount
of EUR 500,000 each can be requested at Bone Therapeutics’ sole
discretion over an eighteen-month period beginning on the signing
date of the subscription agreement, subject to customary conditions
to be met. More precisely, Bone Therapeutics shall be entitled to
require the investor to subscribe to a new tranche without the
investor’s prior written consent, following a period whose duration
shall be of (i) five (5) trading days following the closing date of
the first tranche and following the closing date of the second
tranche and of (ii) thirty (30) trading days following the closing
date of each tranche from the third tranche onwards, subject to
customary conditions to be met.
The CBs, denominated EUR 50,000 each, will be in
the form of unsecured, subordinated, registered bonds. The CBs will
not bear any coupon and have a maturity date of five years after
issuance. The CBs are convertible into ordinary shares of Bone
Therapeutics. The conversion price will be equal to 95% of the
lowest 1-day VWAP of the ordinary shares of Bone Therapeutics
observed during a period of ten consecutive trading days expiring
on the trading day immediately preceding the date of CB holder’s
request of conversion.
The negotiations for ALLOB, with one of the
current Bone Therapeutics Chinese partners, for the global rights
agreement are still ongoing. In parallel, the board of directors of
Bone Therapeutics continues to examine opportunities to combine
certain activities within Bone Therapeutics, taking into account
the interests of its shareholders and other stakeholders. The
exclusive reverse merger discussions with Medsenic are progressing
well. Further announcements will be made in due course, if and when
circumstances allow or require.
About ABO Securities
Alpha Blue Ocean (ABO) Securities is a young and
dynamic family office whose vocation is to revolutionize the
financial industry by offering alternative solutions in constant
innovation. ABO Securities implements a direct, rational and
efficient approach, offering financing solutions in line with the
specific constraints of its clients.
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. Currently Bone
Therapeutics is concentrating specifically on the development of
its most advanced clinical asset, the allogeneic cell therapy
platform, ALLOB.
Bone Therapeutics’ core technology is based on
its cutting-edge allogeneic cell and gene therapy platform with
differentiated bone marrow sourced Mesenchymal Stromal Cells (MSCs)
which can be stored at the point of use in the hospital. Its
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 has
initiated patient recruitment for 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 (Good Manufacturing Practices)
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 Louvain-la-Neuve Science Park in
Mont-Saint-Guibert, Belgium. Further information is available at
www.bonetherapeutics.com.
For further information, please
contact:
Bone Therapeutics SAMiguel
Forte, MD, PhD, Chief Executive OfficerTel: +32 (0)493 09 73
66investorrelations@bonetherapeutics.com
For Belgian Media and Investor
Enquiries:BepublicBert BouserieTel: +32 (0)488 40
44 77bert.bouserie@bepublicgroup.be
International Media Enquiries:Image Box
CommunicationsNeil Hunter / Michelle BoxallTel: +44 (0)20
8943 4685neil.hunter@ibcomms.agency / michelle@ibcomms.agency
For French Media and Investor
Enquiries:NewCap Investor Relations &
Financial CommunicationsPierre Laurent, Louis-Victor
Delouvrier and Arthur RouilléTel: +33 (0)1 44 71 94
94bone@newcap.eu
Certain statements, beliefs and opinions in this
press release are forward-looking, which reflect the Company or, as
appropriate, the Company directors’ current expectations and
projections about future events. By their nature, forward-looking
statements involve a number of risks, uncertainties and assumptions
that could cause actual results or events to differ materially from
those expressed or implied by the forward-looking statements. These
risks, uncertainties and assumptions could adversely affect the
outcome and financial effects of the plans and events described
herein. A multitude of factors including, but not limited to,
changes in demand, competition and technology, can cause actual
events, performance or results to differ significantly from any
anticipated development. Forward looking statements contained in
this press release regarding past trends or activities should not
be taken as a representation that such trends or activities will
continue in the future. As a result, the Company expressly
disclaims any obligation or undertaking to release any update or
revisions to any forward-looking statements in this press release
as a result of any change in expectations or any change in events,
conditions, assumptions or circumstances on which these
forward-looking statements are based. Neither the Company nor its
advisers or representatives nor any of its subsidiary undertakings
or any such person’s officers or employees guarantees that the
assumptions underlying such forward-looking statements are free
from errors nor does either accept any responsibility for the
future accuracy of the forward-looking statements contained in this
press release or the actual occurrence of the forecasted
developments. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
press release.