Brief: Bone Therapeutics Raises 3.3 Million Euros In Private Placement

Biosenic SA

03/12/2021 06:44

Dec 3 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * BONE THERAPEUTICS SUCCESSFULLY RAISES EUR 3.3 MILLION IN
PRIVATE
PLACEMENT
    * TODAY ANNOUNCES THAT IT RAISED EUR 3.3 MILLION IN GROSS
PROCEEDS
THROUGH AN EQUITY PRIVATE PLACEMENT OF 4,832,352 NEW SHARES AT
AN ISSUE PRICE OF EUR 0.68 PER SHARE WITH EXISTING AND NEW
INSTITUTIONAL INVESTORS
    * GROSS PROCEEDS WILL BE USED TO ADVANCE BONE THERAPEUTICS'
LEAD
ORTHOPEDIC ASSET, ALLOB, THROUGH MID-STAGE CLINICAL DEVELOPMENT
    * FUNDS WILL ALSO SUPPORT ACCELERATION OF DEVELOPMENT OF NEW
IMSC
CELL AND GENE THERAPY PLATFORM TO ADDRESS A BROADER ARRAY OF
UNDERSERVED CLINICAL INDICATIONS OUTSIDE ORTHOPEDICS
    * ANTICIPATES HAVING A RUNWAY INTO Q4 2022, ENHANCING
FURTHER
DEVELOPMENT OF ITS LEAD ASSET, ALLOB, AND ITS NEXT GENERATION
IMSC PLATFORM
    * IN ADDITION, BONE THERAPEUTICS EXPECTS TO COMPLETE FINAL
LICENSING AGREEMENT FOR GLOBAL RIGHTS OF ALLOB WITH LINK HEALTH
PHARMA CO., LTD BY END OF 2021
    * THIS AGREEMENT WOULD INCLUDE RESEARCH AND DEVELOPMENT COST
REIMBURSEMENT FROM LINK HEALTH TO BONE THERAPEUTICS AND
COMMERCIAL MILESTONE PAYMENTS OF UP TO EUR 60 MILLION IN TOTAL
AND TIERED ROYALTIES ON NET SALES OF UP TO 25% FROM LINK HEALTH
TO BONE THERAPEUTICS
    * CONTINUES TO EXPLORE FUNDING OPTIONS TO FURTHER STRENGTHEN
ITS
BALANCE SHEET AND CASH POSITION
    * PAYMENT AND DELIVERY OF NEW SHARES ARE EXPECTED TO TAKE
PLACE ON
OR ABOUT 7 DECEMBER 2021
    * APPLICATION WILL BE MADE TO ADMIT NEW SHARES TO TRADING ON
REGULATED MARKETS OF EURONEXT BRUSSELS AND EURONEXT PARIS AT
SAME TIME
    * NEW SHARES TO BE ISSUED WILL HAVE SAME RIGHTS AND BENEFITS
AS,
AND RANK PARI PASSU IN ALL RESPECTS WITH, EXISTING AND
OUTSTANDING SHARES OF BONE THERAPEUTICS AT MOMENT OF THEIR
ISSUANCE

Source text for Eikon:  ID:nGNE419Rl 
Further company coverage:  BOTHE.BR 

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