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Bone Therapeutics strengthens its financial structure with

By August 27, 2021September 4th, 2021Financial structure

REGULATORY INFORMATION

Disbursement offer for the first tranche of € 8.0 million, payment of which is expected in September.

Issue of warrants to the EIB and Patronale Life.

Renegotiation of the loan with Patronale Vie.

Gosselies, Belgium, August 27, 2021, at 9 a.m.: 00 h CESTBONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), a biotechnology company focused on the development of innovative cell therapies addressing unmet medical needs in orthopedics and other diseases, today announced that it has received a disbursement offer from the European Investment Bank (EIB) for the first tranche of € 8.0 million of the € 16.0 million financing contract signed in July 2021. The first tranche of € 8.0 million will be released at the beginning of September 2021.

The receipt of the EIB’s disbursement offer for this first tranche follows the approval of the associated warrants issued by the Extraordinary General Meeting (“Extraordinary general meeting”) Of Bone Therapeutics which took place on August 23, 2021. It resulted in the issue of 800,000 warrants for the benefit of the EIB.

As part of this agreement, Bone Therapeutics also announces the renegotiation of the 800 convertible bonds issued on May 7, 2020 (for an amount of 2 million euros) to Patronale Life in a loan subject to the same repayment conditions as the agreement with the BEI, and the issue of 200,000 additional warrants subscribed unconditionally by Patronale Vie under the terms and conditions decided by the Extraordinary General Meeting. The 800 convertible bonds held by Patronale Life will be canceled as soon as the first tranche of € 8.0 million has been paid by the EIB. The 800 convertible bonds issued on May 7, 2020 into Intégrale remain unchanged.

Each warrant will give its holder the right to subscribe to one Bone Therapeutics share with an exercise price of € 2.52. The warrants will be exercisable from the date of repayment of the tranche concerned.

“We are very happy to receive the first tranche of our financing agreement with the European Investment Bank. Aligning the repayment conditions of the convertible bonds issued in 2020 with the terms of this financing agreement is an additional asset to strengthen our cash flow, ” said Jean-Luc Vandebroek, CFO of Bone Therapeutics. “This support gives us increased financial visibility to pursue our development. We sincerely thank the EIB and our shareholders, whose confidence has enabled us to take these decisive steps in our development. ”

The specific terms and conditions applicable to warrants associated with EIB loans are available in the minutes of the Extraordinary General Meeting of 23 August 2021, in the Investors section of the Bone Therapeutics website.

About the EIB

The European Investment Bank (EIB) is the European Union’s long-term lending institution, owned by its member states. It makes long-term funding available for sound investments in order to contribute to the political objectives of the EU.

About bone therapy

Bone Therapeutics is a leading biotechnology company focused on developing innovative products to meet significant unmet needs in orthopedics and other diseases. The Company has a, diverse portfolio of cell and biologic therapies at different stages ranging from preclinical immunomodulation programs to mid to late stage clinical development for orthopedic conditions, targeting markets with large unmet medical needs and limited innovation.

Bone Therapeutics develops a new generation viscosupplement, JTA-004, currently in phase III development for the treatment of pain in osteoarthritis of the knee. Made up of a unique combination of plasma proteins, hyaluronic acid – a natural component of the knee’s synovial fluid and a fast-acting pain reliever, JTA-004 aims to provide additional lubrication and protection to the cartilage of the joint. arthritis and relieve arthritis pain and inflammation. The positive Phase IIb efficacy results in patients with osteoarthritis of the knee showed a statistically significant improvement in pain relief compared to a viscosupplement.

Bone Therapeutics’ core technology is based on its advanced allogeneic cell therapy platform with differentiated mesenchymal stromal cells (MSCs) from the bone marrow that can be stored at the point of use in the hospital. Currently in preclinical development, BT-20, the newest product candidate for this technology, targets inflammatory conditions, while the lead investigational drug, ALLOB, represents a unique and proprietary approach to bone regeneration, which transforms stromal cells undifferentiated into healthy cells. donors in bone formation cells. These cells are produced through Bone Therapeutics’ evolutionary manufacturing process. Following the approval of CTA by regulatory authorities in Europe, the Company 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 others 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 portfolio of IP (Intellectual Property) covering ten patent families as well as know-how. The Company is based in the BioParc in Gosselies, Belgium. More information is available at www.bonetherapeutics.com.

For more information, please contact:

Bone Therapeutics SA
Miguel Forte, MD, PhD, President and CEO
Jean-Luc Vandebroek, Chief Financial Officer
Phone: +32 (0) 71 12 10 00
investor [email protected]

For media inquiries and Belgian investors:
Bepublic
Catherine haquenne
Phone: +32 (0) 497 75 63 56
[email protected]

International media inquiries:
Communications picture box
Neil Hunter / Michelle Boxall
Phone: +44 (0) 20 8943 4685
[email protected] / [email protected]

For French media and investor inquiries:
NewCap Investor Relations & Financial Communication
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Phone: +33 (0) 1 44 71 94 94
[email protected]

Certain statements, beliefs and opinions contained in this press release are forward-looking and reflect the Company or, where applicable, the current expectations and projections of the directors of the Company regarding 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 forward-looking statements. These risks, uncertainties and assumptions could have an unfavorable impact on the results 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 materially 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. Accordingly, the Company expressly disclaims any obligation or commitment to publish any update or revision to any forward-looking statement contained 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 subsidiaries or its officers or employees guarantees that the assumptions underlying these forward-looking statements are free from errors and accepts no responsibility as to the future accuracy of the statements. forward-looking statements. statements contained in this press release or the actual occurrence of anticipated developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

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