Bone Therapeutics’s Longtime CEO to Step Down for Personal Reasons

GOSSELIES, Belgium--(BUSINESS WIRE)--Regulatory News:

BONE THERAPEUTICS (Brussels:BOTHE) (Paris:BOTHE), the bone cell therapy company addressing high unmet medical needs in bone fracture repair, fracture prevention and spinal fusion, today announces that Enrico Bastianelli has informed the Board of his intention to stand down as Chief Executive Officer after 10 years in the role for personal reasons. Thomas Lienard, the current Chief Business Officer, will become Interim CEO of the Company, working closely with Wim Goemaere, Chief Financial Officer, and the rest of the management team. Mr Bastianelli will continue to support the Company through a period of transition.

Michel Helbig de Balzac, Chairman of Bone Therapeutics, commented: “Enrico has made a huge contribution to Bone Therapeutics over the past decade. He played an important role in its foundation and in making the Company a leader in the development of innovative cell products for high unmet medical needs in orthopaedics and bone diseases. Under Enrico’s leadership, Bone Therapeutics achieved a successful initial public offering in 2015 which raised EUR 37 million and he has overseen the clinical development and regulatory and commercial planning for the Company’s two first-in-class products, PREOB^® and ALLOB^®. The Board wishes to express its gratitude to Enrico for his outstanding contribution.”

Mr Helbig added: “Over the past year, we have built a strong management team to take the Company through the next phase of its growth, including the eventual commercialisation of our first products, and will continue to progress our growth strategy and advanced clinical programmes under the interim leadership of Thomas Lienard.”

Thomas Lienard (40) joined Bone Therapeutics as CBO in November 2015 with extensive international sales and marketing experience. Prior to joining Bone Therapeutics, Mr Lienard worked at Lundbeck and Eli Lilly and Co. Mr Lienard started his career as a consultant at McKinsey & Company.

About Bone Therapeutics

Bone Therapeutics is a leading biotechnology company specializing in the development of cell therapy products intended for bone fracture repair and fracture prevention. The current standard of care in this field involves major surgeries and long recovery periods. To overcome these problems, Bone Therapeutics is developing a range of innovative regenerative products containing osteoblastic/bone-forming cells, administrable via a minimally invasive percutaneous technique; a unique proposition in the market.

PREOB^®, Bone Therapeutics’ autologous bone cell product, is currently in pivotal Phase IIB/III clinical studies for two indications: osteonecrosis and non-union fractures, and in Phase II for severe osteoporosis. ALLOB^®, its allogeneic “off-the-shelf” bone cell product, is in Phase II for the treatment of delayed-union fractures and lumbar fusion for degenerative disease of the spine, including a minimally invasive therapy for failed spinal fusions. The Company also runs preclinical research programs and develops novel product candidates.

Founded in 2006, Bone Therapeutics is headquartered in Gosselies (South of Brussels, Belgium). Bone Therapeutics’ regenerative products are manufactured to the highest GMP standards and are protected by a rich IP estate covering 11 patent families. Further information is available at: www.bonetherapeutics.com.

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors’ current expectations and projections about 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 the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome 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 significantly 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. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements 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 subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.