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Bone Therapeutics appoints Lieve Creten as interim Chief Financial Officer

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REGULATED INFORMATION


Gosselies, Belgium, 21 September 2021, 7am CEST – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the cell therapy company addressing unmet medical needs in orthopedics and other diseases, today announces it has appointed Lieve Creten, as interim Chief Financial Officer (CFO), succeeding Jean-Luc Vandebroek.

Bone Therapeutics has appointed Lieve Creten as an interim CFO, effective 21 September 2021. Lieve Creten succeeds Jean-Luc Vandebroek, who will continue to serve as Board member and will assist in the transition process.

Bone Therapeutics appointed Lieve Creten for her large experience in management, finance reporting and business deals including acquisitions or mergers for both public and private companies as the company strategically realigns to fully focus on its iMSC cell and gene therapy platform of professional mesenchymal stromal cells (MSCs) for a wider range of therapeutic targets.

Lieve’s extensive financial experience gained at Deloitte Financial Advisory Belgium as a certified public accountant will be deployed to ensure optimal financial control, oversight and compliance during Bone Therapeutics strategic refocus on the iMSC platform, which includes its product ALLOB.

"Jean-Luc has been with us for more than 4 years and, during this time, he has been a valuable asset to the company. He was instrumental in securing the necessary financing for the Company and leaves behind strong investor relations ready to support the Company’s growth plans for the next years. I am sorry to see him go but respect his decision. We wish him all the best," said Jean Stephenne, Chairman, Bone Therapeutics.

Bone Therapeutics has agreed a planned transition of Jean-Luc Vandebroek’s tenure as Chief Financial Officer during Q4 2021. This will enable him to pursue new opportunities outside the company from the end of the year. He will remain on the Board of Directors of Bone Therapeutics as a Non-Executive Director and he will support a managed transition of the CFO function. Bone Therapeutics has already initiated the recruitment efforts for a permanent CFO and will make an announcement in due course.

Bone Therapeutics is focusing its full attention on the development of its iMSC cell and gene therapy platform, that includes ALLOB, and the broadening of its therapeutic targets based on the platform’s results so far in orthopedics. As a result of that, the senior team at Bone Therapeutics needs to evaluate the multiple strategic options available to us,said Miguel Forte, CEO, Bone Therapeutics. “Lieve Creten has the ideal experience to add specific knowledge and expertise to the senior management team during this important time in Bone Therapeutics’ development. I would like to thank Jean-Luc for his four years of full and central engagement as CFO and his ongoing contribution in this transition period will be essential.

Bone Therapeutics is a company with a highly promising technology and approach in professionalizing MSCs. This provides a number of both strategic and therapeutic opportunities,said Lieve Creten, interim Chief Financial Officer, Bone Therapeutics. “At this period where Bone Therapeutics is blessed with a variety of options for its immediate future, selecting the right path will be critical for the company, its shareholders, stakeholders and partners and patients of the variety of therapies that Bone Therapeutics could provide solutions for. I look forward to contributing my specific expertise at this essential time in the evolution of Bone Therapeutics.


About Bone Therapeutics

Bone Therapeutics is a leading biotech company focused on the development of innovative products to address high unmet needs in orthopedics and other diseases. The Company has a diversified portfolio of cell therapies at different stages ranging from pre-clinical programs in immunomodulation to mid stage clinical development for orthopedic conditions, targeting markets with large unmet medical needs and limited innovation.

Bone Therapeutics’ core technology is based on its cutting-edge allogeneic cell and gene therapy platform with differentiated bone marrow sourced Mesenchymal Stromal Cells (MSCs) which can be stored at the point of use in the hospital. Currently in pre-clinical development, BT-20, the most recent product candidate from this technology, targets inflammatory conditions, while the leading investigational medicinal product, ALLOB, represents a unique, proprietary approach to bone regeneration, which turns undifferentiated stromal cells from healthy donors into bone-forming cells. These cells are produced via the Bone Therapeutics’ scalable manufacturing process. Following the CTA approval by regulatory authorities in Europe, the Company has 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 other 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 IP (Intellectual Property) portfolio covering ten patent families as well as knowhow. The Company is based in the BioPark in Gosselies, Belgium. Further information is available at www.bonetherapeutics.com.


For further information, please contact:

Bone Therapeutics SA
Miguel Forte, MD, PhD, Chief Executive Officer
Lieve Creten , interim Chief Financial Officer
Tel: +32 (0)71 12 10 00
investorrelations@bonetherapeutics.com

For Belgian Media and Investor Enquiries:
Bepublic
Catherine Haquenne
Tel: +32 (0)497 75 63 56
catherine@bepublic.be

International Media Enquiries:
Image Box Communications
Neil Hunter / Michelle Boxall
Tel: +44 (0)20 8943 4685
neil.hunter@ibcomms.agency / michelle@ibcomms.agency

For French Media and Investor Enquiries:
NewCap Investor Relations & Financial Communications
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Tel: +33 (0)1 44 71 94 94
bone@newcap.eu


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.


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