Bone Therapeutics to merge with Medsenic
Bone Therapeutics the cell therapy company addressing unmet medical needs in orthopedics and Medsenic, a privately held, clinical stage biopharmaceutical company incorporated in France and specialized in the development of optimized formulations of arsenic salts and their application in inflammatory conditions and other potential new indications, announce the signature of a binding contribution agreement to combine the operations of both companies by means of a share for share exchange, subject to the approval of the shareholders' meeting
Integrating both biopharmaceutical companies would significantly derisk and broaden Bone Therapeutic's therapeutic portfolio, targeting a broad array of inflammatory and orthopedic indications. Both companies currently are running several mid to advanced stage clinical trials ongoing in lupus, chronic graft-versus-host disease, tibial fractures and other indications. As a result, there would be a number of economic, financial and operational benefits and synergies in combining the clinical development programs within one organization. At the ESM (extraordinary shareholders meeting), Bone Therapeutics shareholders will also be asked to approve the name change of the Company into ‘BioSenic’ and the appointment, with effect as of the completion of the contribution, of a new board of directors.
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