Bone Therapeutics secured financing of EUR 11.0 million (~USD $12.0 million). Funds will support late-stage clinical development of ALLOB and JTA-004.
JTA-004 is an off-the-shelf protein solution that is entering Phase III development to treat pain from knee osteoarthritis, while the ALLOB allogeneic cell therapy platform technology has multiple applications. The company is preparing for a Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, and will continue to evaluate ALLOB in indications including spinal fusion, osteotomy and maxillofacial and dental applications.
“This current financing will allow us to continue the strong progress of the late stage development of our innovative treatment solutions. It will additionally provide support for our wider activity during the measures taken by international governments to combat the global COVID-19 pandemic,” said Miguel Forte, MD, PhD, Chief Executive Officer of Bone Therapeutics. “This support results from the potential of our allogeneic cell therapy platform and enriched protein solution to transform the lives of patients with debilitating bone conditions. We will continue our preparations for when the sites selected for the approved clinical studies with ALLOB and JTA-004 can resume their normal operations on a country per country basis.”