VC-backed Bone Therapeutics to list

Ellie Pullen
30 January 2015

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Bone Therapeutics, a Belgian biotech backed by several venture capital investors, has announced its intention to list on the Euronext Brussels and Euronext Paris.

The company has set the initial price range at €14.50-16.50 per share and intends to sell 1.75 million shares, resulting in total proceeds of up to €28.8m.

Should the overallotment option be exercised, the amount of shares sold could increase by a maximum of 15% to around 2 million.

The company expects to start trading on the Euronext Brussels and Euronext Paris on 6 February. Bryan Garnier & Co has been appointed as global coordinator, while Kepler Cheuvreux and Bank Degroof are acting as joint bookrunners and lead managers.

Some of Bone Therapeutics' existing bondholders and shareholders have already committed to subscribe €10.35m to the offering.

Bone Therapeutics is backed by Life Science Research Partners, Sambrinvest and Société Régionale d'Investissement de Wallonie (SRIW).

The company first received funding in December 2008, securing €3.9m from SRIW and Sambrinvest alongside several private investors and BAMS Angel Fund II, according to unquote" data.

In February 2011, Bone Therapeutics raised a further €9.5m from the same consortium of investors. The company then raised a further €7.7m from its consortium of investors in January 2013.

Founded in 2006 and headquartered in Gosselies, Bone Therapeutics develops regenerative bone-forming cell products, designed to treat bone-fracture repair and fracture prevention.

The company employs 36 staff.