Gosselies, Belgium, 21 September 2021, 7h CEST – BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the cell therapy company responding to unmet medical needs in orthopedics and other diseases, today announces that it has appointed Lieve Creten, as interim Chief Financial Officer (CFO), succeeding Jean -Luc Vandebroek.
Bone Therapeutics has appointed Lieve Creten as interim CFO, effective September 21, 2021. Lieve Creten succeeds Jean-Luc Vandebroek, who will continue to serve as a member of the Board of Directors and will assist in the transition process.
Bone Therapeutics appointed Lieve Creten for her extensive experience in management, financial reporting and business transactions, including acquisitions or mergers for public and private companies, as the company strategically realigns to fully focus on its platform professional mesenchymal stromal cell (MSC) cell and gene therapy iMSC 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 the strategic refocus of Bone Therapeutics on the iMSC platform, which includes its ALLOB product.
“Jean-Luc has been with us for over 4 years and during that 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 relationships with investors ready to support the Company’s growth plans for the coming years. I’m sorry to see him go but respect his decision. We wish him the best,” said Jean Stephenne, President, Bone Therapeutics.
Bone Therapeutics has agreed to a planned transition of Jean-Luc Vandebroek’s tenure as CFO during the fourth quarter of 2021. This will allow him to pursue new opportunities outside the company from the end of the year. He will remain on the board of Bone Therapeutics as a non-executive director and will support a managed transition of the CFO function. Bone Therapeutics has already launched efforts to recruit a permanent CFO and will make an announcement in due course.
“Bone Therapeutics focuses all of its attention on the development of its iMSC cell and gene therapy platform, which includes ALLOB, and the expansion of its therapeutic targets based on the platform’s results to date in orthopedics. As a result, the senior team at Bone Therapeutics must assess the multiple strategic options available to us,” said Miguel Forte, CEO of Bone Therapeutics. “Lieve Crete has the perfect experience to add specific knowledge and expertise to the leadership team during this important period of Bone Therapeutics development. I would like to thank Jean-Luc for his four years of total and central commitment as CFO and his continued contribution in this period of transition will be essential.“
“Bone Therapeutics is a company with a very promising technology and approach in the professionalization of MSCs. This offers a number of both strategic and therapeutic opportunities,” noted Lieve Crete, Interim CFO, Bone Therapeutics. “In this time when Bone Therapeutics benefits from a variety of options for its immediate future, it will be essential for the company, its shareholders, its stakeholders and partners and patients to choose the right path for the variety of therapies for which Bone Therapeutics could provide solutions. I look forward to bringing my specific expertise to this essential moment in the evolution of bone therapy.“
About bone therapy
Bone Therapeutics is a leading biotechnology company focused on developing innovative products to meet significant unmet needs in orthopedics and other diseases. The Company has a diversified portfolio of cell therapies at different stages ranging from preclinical programs in immunomodulation to medium clinical development stage for orthopedic conditions, targeting markets with significant unmet medical needs and limited innovation.
Bone Therapeutics’ core technology is based on its state-of-the-art allogeneic cell and gene Therapy platform with differentiated mesenchymal stromal cells (MSCs) from bone marrow that can be stored at the point of use in the hospital. Currently in preclinical development, BT-20, the newest product candidate for this technology, targets inflammatory conditions, while the lead investigational drug, ALLOB, represents a unique and proprietary approach to bone regeneration, which transforms stromal cells undifferentiated into healthy cells. donors in bone formation cells. These cells are produced through Bone Therapeutics’ evolutionary manufacturing process. Following the approval of CTA by regulatory authorities in Europe, the Company 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 portfolio of IP (Intellectual Property) covering ten patent families as well as know-how. The Company is based in the BioParc in Gosselies, Belgium. More information is available at www.bonetherapeutics.com.
For more information, please contact:
Bone Therapeutics SA
Miguel Forte, MD, PhD, President and CEO
Lieve Creten, Interim Chief Financial Officer
Phone: +32 (0) 71 12 10 00
investor [email protected]
For media inquiries and Belgian investors:
Phone: +32 (0) 497 75 63 56
For French media and investor inquiries:
NewCap Investor Relations & Financial Communication
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Phone: +33 (0) 1 44 71 94 94
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