Bone Therapeutics celebrated its successful admission to listing on Euronext Brussels and Euronext Paris in the presence of the Vice-President and Minister of Economy of the Walloon Government, Jean-Claude Marcourt
Brussels, Paris, 6 February 2015 – EnterNext, the Euronext subsidiary designed to promote and grow the market for SMEs, today welcomed Bone Therapeutics to the regulated markets of Euronext Brussels and Euronext Paris.
Bone Therapeutics is an advanced biotechnology company with a unique approach to the development of cell therapy products for bone fracture repair and fracture prevention. The company is creating a new and unique treatment approach using differentiated bone-forming cells administered via a minimally invasive percutaneous procedure, expected to offer significant benefits over the current standard-of-care that often involves heavy surgery and long recovery periods.
Bone Therapeutics (ticker code: BOTHE) issued 2,012,500 new shares at a reference price of €16.00 per share equivalent to €32.2 million in a 2.5 times oversubscribed initial public offering. Based on the reference price, the total market capitalization of Bone Therapeutics at the opening stood at €104.8 million.
Enrico Bastianelli, CEO of Bone Therapeutics, said : “This is an exciting day for Bone Therapeutics as we welcome a number of high quality investors to our share register and begin our life as a public company. We are delighted to be joining Euronext Brussels and Paris at a time when the exchange is offering strong support for life sciences companies and impressive returns. The funds we have raised will help to support and accelerate the development of Bone Therapeutics, in particular by facilitating the progression of our two pivotal Phase III trials and three Phase I/II trials, helping us to initiate trials in the US and to optimize our production. We look forward to our life as a public company listed on these two prestigious exchanges and to what we hope will be an exciting and rewarding journey bringing our innovative pipeline towards commercialization.”
Vincent Van Dessel, CEO of Euronext Brussels, declared: “We are delighted to welcome Bone Therapeutics to Euronext Brussels and Euronext Paris. This dual listing demonstrates the attractiveness of public equity markets as a source of financing for companies to help them achieve the next stage in their development. Today alone, three new companies are holding IPOs across the Euronext markets in Amsterdam, Brussels and Paris, reinforcing our strategy as a European leading capital raising centre.”
Alain Baetens, Head of Listings of Euronext Brussels, said: “The successful dual IPO of Bone Therapeutics confirms the promising trend observed throughout 2014 with record volumes raised on Euronext Brussels. Our EnterNext Biotech franchise is a leader among European exchanges with over 30 issuers accounting for a market capitalization of €6.2 billion. Our Nextbiotech index outperformed most of the main European indices over the last 5 years, and the diversified placement of Bone Therapeutics also confirms the strong return of retail investors on the capital markets in Belgium. Euronext Brussels actively participated in centralising the Public Offers in connection to the listing of Bone Therapeutics securities.”
Jean-Claude Marcourt, Vice-President of the Walloon Government, Minister of Economy, Industry and Innovation, commented: “This initial public offering definitely contributes to the creation of a major company in our country as Bone Therapeutics already displays all the qualities of a large company. As a spin-off of the Université Libre de Bruxelles created in 2006 and active in the development of cellular products, Bone Therapeutics grew from 3 employees at the end of 2007 to about 80 today. As from the start, the Walloon Region has accompanied the company in every stages of its development. Their future move to Gosselies will allow to maintain this added value for the economy of our region and the employment created by this project. Wallonia ensures once more a unique know-how in life sciences and the biotech sector. Some other companies should follow the same path shortly given the good results of their research and development.”
To celebrate the listing, Enrico Bastianelli, CEO of Bone Therapeutics, and Michel Helbig de Balzac, Chairman of Bone Therapeutics, rang the bell in Brussels to open trading on Euronext’s European markets. They were accompanied by Minister Jean-Claude Marcourt, Vice-President of the Walloon Government, Minister of Economy, Industry and Innovation.