International legal practice Osborne Clarke has advised Bone Therapeutics, the bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases, on its €16 million loan financing from the European Investment Bank to support and prepare their lead asset, enhanced viscosupplement JTA-004, for future regulatory approval and commercialisation.
The loan financing will also be used to accelerate the clinical development of their scalable allogeneic cell therapy platform, ALLOB, which is currently being tested in a phase IIb study in patients with difficult-to-heal tibial fractures.
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About Bone Therapeutics
Bone Therapeutics is a leading biotech company listed on Euronext Brussels and Paris, which focuses on developing innovative products to address high unmet needs in orthopaedics and other diseases. The Company has a, diversified portfolio of cell and biologic therapies at different stages ranging from pre-clinical programs in immunomodulation to mid-to-late stage clinical developments for orthopaedic conditions, and targets markets with large unmet medical needs and limited innovation.
Bone Therapeutics is developing an off-the-shelf protein solution, JTA-004, which is entering Phase III development for the treatment of pain in knee osteoarthritis. Bone Therapeutics’ other core technology is based on its cutting-edge allogeneic cell therapy platform (ALLOB) which can be stored at the point of use in the hospital, and uses a unique, proprietary approach to bone regeneration, which turns undifferentiated stem cells from healthy donors into bone-forming cells. Following CTA approval by the Belgian regulatory authority, the Company is ready to start the Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, using its optimized production process.