VC-backed Bone Therapeutics raises €32m in IPO

Ellie Pullen
06 February 2015

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VC-backed Belgian biotech Bone Therapeutics has raised €32.2m in its dual listing on the Euronext Brussels and Paris markets.

Bone Therapeutics, which had set the initial price range at €14.50–16.50 per share, settled on a share price of €16. The IPO was oversubscribed by 2.5x.

The flotation gave Bone Therapeutics a market cap of €104.8m.

The company listed on the Euronext Brussels and Paris markets under the ticker "BOTHE". Bryan Garnier & Co acted as global coordinator, while Kepler Cheuvreux and Bank Degroof were mandated joint bookrunners and lead managers.

Previous funding
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.

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

The company employs 36 staff.

People
Enrico Bastianelli is the CEO of Bone Therapeutics.