Bone Therapeutics shares shoot up on deal with Link Health

Biosenic SA

29/11/2021 08:43

** Shares in Bone Therapeutics are heading for their best
day ever after the group said it had signed a non-binding term
sheet for the global rights of its allogeneic bone cell therapy
(ALLOB)
    ** The Belgian biotech company and China's Link Health
Pharma aim to complete and fully execute the final deal for
ALLOB platform's by the end of 2021  urn:newsml:reuters.com:*:nFWN2SI017
    ** Bone Therapeutics will receive commercial milestone
payments of up to EUR 60 million ($67.57 million) in total and
tiered royalties on net sales of up to 25% upon completion 
    ** The deal enables Bone Therapeutics to concentrate
resources and focus more fully on its iMSC platform, the group's
CEO Miguel Forte said in a statement
    ** The stock of Bone Therapeutics, which soars more than 30%
as of 0835 GMT, is down by around 54% year-to-date

($1 = 0.8880 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))