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Bone Therapeutics reports €13 million net loss for 2016

Bone Therapeutics

Bone Therapeutics

Bone Therapeutics, the bone cell therapy company, has reported net loss of €13,02 million for 2016 which is slight decrease in loss comparing to the last years of €14,07 million net loss. 

Thomas Lienard, CEO of Bone Therapeutics, said that the past year was important for Bone Therapeutics as it has undergone an important transition. “(During the transition) we have seen a growing body of encouraging data around the safety and efficacy of our allogeneic bone cell therapy product ALLOB, underpinning our confidence in the technology,” said Lienard. 

Following a review of its portfolio and priorities, the company put focus on clinical strategy around its allogeneic platform. The CEO says it might offer significant commercial advantages due to its clinical benefits, scalability, cost-effectiveness and relevance for large addressable markets with high unmet need.

During the year, the Company has maintained its strong focus on cash burn, ending 2016 with EUR 20.3 million, slightly ahead of expectations, said Lienard.

Also, Lienard said that last years appointment of  Benoît Champluvier as Chief Technology and Manufacturing Officer and recent appointment of Miguel Forte as the new Chief Medical Officer was strengthening the leadership of company’s development capabilities and focusing on advancing compny’s bone cell therapy programmes into late-stage trials and towards commercialisation.

For 2017 the CEO said that the company expects potential value inflection points in the second half of this year from company’s delayed-union fractures and spinal fusion clinical programmes.

 

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