Bone Therapeutics to Strategically Focus on ALLOB Cell Therapy

Bone Therapeutics is redefining its strategic priorities to concentrate specifically on the development of the allogeneic cell therapy platform, ALLOB.

ALLOB is Bone Therapeutics’ off-the-shelf allogeneic cell therapy platform comprising human allogeneic bone-forming cells derived from cultured bone marrow mesenchymal stromal cells from healthy adult donors.

ALLOB is currently being evaluated in a randomized, double-blind, placebo-controlled Phase IIB study in patients with high-risk tibial fractures. Based on the positive results of previous clinical studies of ALLOB undertaken by Bone Therapeutics and the extensive preclinical data set, Bone Therapeutics believes that ALLOB has the highest potential of near-term value creation. Topline results of the Phase IIB trial are still anticipated in 1Q23. However, a delay cannot be excluded.

To deliver results from the Phase IIB clinical study, Bone Therapeutics has implemented actions to reduce its cost base to enable completion of its Phase IIB study. As a result, Bone Therapeutics will focus its R&D activities to support the clinical development of ALLOB. All activities related to the development of the pre-clinical iMSCg platform as well as all other non ALLOB related activities will be stopped.

The negotiations for ALLOB with one of the current Bone Therapeutics partners in China for the global rights agreement are still ongoing, but are taking longer than anticipated. The potential completion of a final binding agreement has been delayed beyond the end of 1Q22.

Subsequent to some preliminary contacts, the board of directors of Bone Therapeutics is examining various opportunities to combine certain activities within Bone Therapeutics, taking into account the interests of its shareholders and other stakeholders. Further announcements will be made in due course, if and when circumstances so allow or require.

Source: Bone Therapeutics