Brief: Bone Therapeutics Says ALLOB Talks Are Longer Than Anticipated

Biosenic SA

29/03/2022 06:08

March 29 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * BONE THERAPEUTICS TO STRATEGICALLY FOCUS ON LEAD CELL
THERAPY
PRODUCT ALLOB
    * DISCUSSIONS FOR ALLOB GLOBAL PARTNERSHIP STILL ONGOING
    * BOARD OF DIRECTORS AND MANAGEMENT EXPLORING ALL STRATEGIC
OPTIONS TO PROTECT SHAREHOLDER VALUE
    * MIGUEL FORTE (CEO), TONY TING (CSO), STEFANOS THEOHARIS
(CBO)
AND LIEVE CRETEN (CFO) WILL TRANSITION TO LEAVE COMPANY OVER
COMING MONTHS
    * NEGOTIATIONS FOR ALLOB, WITH ONE OF CURRENT BONE
THERAPEUTICS
CHINESE PARTNERS, FOR GLOBAL RIGHTS AGREEMENT ARE STILL ONGOING
BUT ARE TAKING LONGER THAN ANTICIPATED
    * ALLOB: POTENTIAL COMPLETION OF A FINAL BINDING AGREEMENT
HAS
BEEN DELAYED BEYOND END OF Q1 2022
    * ALL NON-EXECUTIVE MEMBERS OF BOARD OF DIRECTORS HAVE
DECIDED TO
SUSPEND THEIR COMPENSATION FOR Q1 2022 AND UNTIL FURTHER NOTICE

Source text for Eikon:  ID:nGNE5d0yxf 
Further company coverage:  BOTHE.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 587 696 600;))