Brussels-based Bone Therapeutics reported first quarter results.
Here are six highlights from the company's report:
1. The company raised EUR 37 million of new funds for a strong financial underpinning to execute its clinical and commercial strategy as well as bringing on a mix of high quality new investors onto the share register.
2. The headquarters moved to Gosselies Biopark in Belgium, securing commercial cell therapy producing capacity.
3. There was a new subsidiary established in the United States in the Boston biotechnology cluster in operation for United States clinical trials.
4. The first patient cohort of the Phase I/IIA novel allogeneic cell therapy product ALLOB demonstrated efficiency to treat delayed-union fracture of long bones.
5. Bone Therapeutics aims to further accelerate PREOB development, currently in the last phase clinical trail or treating osteonecrosis and non-union fractures.
6. Clinical trials for ALLOB will continue, and there is expected results from the first eight patients in the spinal fusion trial with ALLOB.