Bone Therapeutics : 1/6/17 - Bone Therapeutics Granted EUR 2.3 Million in Non-Dilutive Funding by the Walloon Region

Gosselies, Belgium, 6 January 2017, 7am CET - BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the bone cell therapy company addressing high unmet medical needs in the field of bone fracture repair and bone fracture prevention, today announces it has been granted EUR 2.3 million in non-dilutive funding* to support its research programs. This funding has been granted by the Walloon Region by decision of the Minister for Economy, Industry, Innovation and New Technologies, Mr Jean-Claude Marcourt.

Thomas Lienard, CEO of Bone Therapeutics commented: 'We are grateful to the Walloon Region, and in particular to the Minister for Economy Mr Jean-Claude Marcourt, for its continued support of the Company. This support allows the Company to leverage its available equity funding in order to support ongoing research initiatives designed to maximize the potential of its product candidates and further improve the quality of our cell therapy products.'

The funding will cover up to 52% of expenses related to three new research projects. The first two projects have been designed to further investigate the application of the allogeneic product ALLOB® for potential additional indications and patient populations. A third project aims to further optimize the production and logistics of our cellular products. The funding covers a two-year research period.

* The non-dilutive funding is granted under the form of 'avances récupérables' to support specific research and development programs. Under the applicable conditions, the funding is reimbursable over the economic life of the project (25 years). Thirty per cent is refundable based on a fixed reimbursement schedule, while the balance is refunded under the form of royalties over the same period.