Bone Therapeutics, a Gosselies, Belgium-based biopharmaceutical company focused on innovative cell therapy products for the treatment of bone diseases, raised €7.7m in Series D funding.
The financing includes:
– €6.1m raised from existing investors (Nausicaa Ventures, BAMS Angels Fund I and Life Science Research Partners), and
– €1.6m raised in grant subsidies from the Société Régionale d’Investissement de Wallonie (SRIW) and Sambrinvest.
The company intends to use the capital to further accelerate the development of its bone cell therapy platform, as well as to sustain the ongoing Phase III clinical development of its lead product PREOB for the treatment of osteonecrosis and non-union fractures.
Founded in 2006 and led by Enrico Bastianelli, CEO, Bone Therapeutics is also developing an allogeneic bone cell therapy product, ALLOB®, which is expected to enter the clinic in 2013, and MXB, a combined cell-matrix product for the treatment of large bone defects, currently in preclinical development.