Bone Therapeutics Appoints Lieve Creten as Interim Chief Financial Officer



REGULATED INFORMATION

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 results obtained so far by the orthopedic platform. 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 address 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:
Bepublic
Catherine haquenne
Phone: +32 (0) 497 75 63 56
[email protected]

International media inquiries:
Communications picture box
Neil Hunter / Michelle Boxall
Phone: +44 (0) 20 8943 4685
[email protected] / [email protected]

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
[email protected]

Certain statements, beliefs and opinions contained in this press release are forward-looking and reflect the Company or, where applicable, the current expectations and projections of the directors of the Company regarding 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 forward-looking statements. These risks, uncertainties and assumptions could have an unfavorable impact on the results and financial effects of the plans and events described herein. A multitude of factors including, but not limited to changes in demand, competetion and technology, can cause actual events, performance or results to differ materially 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. Accordingly, the Company expressly disclaims any obligation or commitment to publish any update or revision to any forward-looking statement contained in this press release. as a result of any change in expectations or any change in the 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 subsidiaries or its officers or employees guarantees that the assumptions underlying these forward-looking statements are free from errors and accepts no responsibility as to the future accuracy of the statements. forward-looking statements. statements contained in this press release or the actual occurrence of anticipated 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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