Bone Therapeutics completes a €7.7 Million Series D Fundraising round to further advance ongoing PREOB® Phase III clinical trials

Following the approval of the pivotal phase III osteonecrosis trial of PREOB® last November (posted Nov. 9, 2012), Bone Therapeutics has just completed a €7.7 million Series D fundraising round. Of the raised funds, €6.1 million were received from existing investors and the other €1.6 million were acquired through grant subsidies from the Walloon Region.

The funds raised will be used to further accelerate the development of Bone Therapeutics’ unique bone cell therapy pipeline, as well as sustain the ongoing Phase III clinical trials for Bone Therapeutics’ lead product PREOB®. The autologous bone cell therapy product is currently in Phase III clinical trials for the treatment of osteonecrosis.

The Series D funding was received from Bone Therapeutics’ existing private and institutional investors (Nausicaa Ventures, BAMS Angels Fund I and Life Science Research Partners); as well as two supporting minority shareholders from the Walloon Region, the Société Régionale d’Investissement de Wallonie (SRIW) and Sambrinvest. The company has expressed its thanks for the important encouragement from the shareholders and Walloon Region, and explains how this funding will further support its clinical objectives. Furthermore, this funding will allow Bone Therapeutics to accelerate clinical development programs, specifically for PREOB®, and continue further innovative research in the important bone disease area. A few key elements that have led to this continued support of the Bone Therapeutics include the major therapeutic advances of the company’s broad, late-stage pipeline, as well as its potential and competitiveness in the field of regenerative medicine. This addition contribution to the company’s already strong financial position will certainly strengthen Bone Therapeutics’ solid platform and help to develop future growth.

For more on this story and how it has developed please visit the previous post from Nov. 9, 2012.

Source:

bonetherapeutics.com

Contacts:

Bone Therapeutics S.A.
Rue Adrienne Bolland, 8
6041 Gosselies – Belgium (Europe)
Phone: +32 (0) 2 529 59 90
Fax: +32 (0) 2 529 59 93

Enrico Bastianelli, Chief Executive Officer
info@bonetherapeutics.com
Phone: +32 (0) 2 529 59 90

Communications:

Enrico Bastianelli, Chief Executive Officer
info@bonetherapeutics.com
Phone: +32 (0) 2 529 59 90

Mary-Jane Elliott, Amber Bielecka, Hollie Vile
bonetherapeutics@mcomgroup.com
Tel: +44 (0) 20 7920 2333

 

 

 

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