Bryan, Garnier & Co announces the successful IPO of Bone Therapeutics.

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Paris, February 5th, 2015 – Bryan, Garnier & Co, the pan-European investment bank for growth companies, announces the successful Initial Public Offering of Bone Therapeutics on Euronext Paris and Euronext Brussels (under the ticker symbol “BOTHE”) with a global offering of €32.2m. Bryan, Garnier & Co acted as Global Coordinator and Joint Bookrunner, with Kepler Cheuvreux and Bank Degroof together as Joint Bookrunners, and Zeus Capital acted as Co-manager.

Bone Therapeutics, a leader in bone cell therapy addressing high unmet medical needs in the field of bone fracture repair and bone fracture prevention, has completed its IPO on Euronext Brussels and Euronext Paris. Bryan, Garnier & Co acted as Global Coordinator and Joint Bookrunner for this IPO. The transaction was oversubscribed by 2.5x.

The final offer price was set at €16 per share, resulting in market capitalization at IPO of approximately €105 million. Bone Therapeutics will issue 2,012,500 new shares, including the fully exercised extension option (262,500 shares). 44% of the institutional placement was subscribed by Belgian investors and 56% by international investors primarily based in France, the UK, Scandinavia and the Netherlands.

The proceeds from the IPO will finance the development of Bone Therapeutics’ innovative bone cell therapy products and consolidate the company’s leadership in bone cell therapy, particularly in fracture repair and fracture prevention.

Enrico Bastianelli, Founder & CEO of Bone Therapeutics, said: “Bryan Garnier has been a true partner for us throughout the entire IPO process as well as the driving force in the bank syndicate. As a result of the strong commitment of Bryan Garnier, Bone Therapeutics enjoys a high-quality book with several anchor investors and geographical diversification.”

Hervé Ronin, Managing Director Healthcare, said: “In 2014, Bryan Garnier & Co completed 11 ECM transactions and ranks #1 for IPO and follow-ons involving healthcare companies with a market share of 30% on Euronext. Bone Therapeutics is the first healthcare IPO this year and follows our recent IPOs of DBV on Nasdaq for $133m in October and of Quantum Pharma on London AIM for £106m in December.

Cédric Moreau, Director ECM Healthcare, added: “We are very proud to lead this successful IPO. The dual listing on Euronext Paris and Brussels and our placement performance demonstrate our expertise in international ECM transactions.

For more information, please contact:

Hervé Ronin

Managing Director – Healthcare Corporate Finance

hronin@bryangarnier.com | + 33 156687522

Cédric Moreau

Director – Healthcare Equity Capital Markets

cmoreau@bryangarnier.com | + 33 156687565

Christian Finan

Director – Equity Capital Markets

cfinan@bryangarnier.com | + 33 156687530

Jean de Pracomtal 

Analyst – Healthcare

jdepracomtal@bryangarnier.com | + 33 156687538

About Bone Therapeutics

Bone Therapeutics is a leading biotechnology company specializing in the development of cell therapy products intended for bone fracture repair and fracture prevention. The current standard-of-care in this field involves major surgeries and long recovery periods. To overcome these problems, Bone Therapeutics is developing a range of innovative regenerative products containing osteoblastic/bone-forming cells, administrable via a minimally invasive percutaneous technique; a unique proposition in the market.

PREOB®, Bone Therapeutics’ autologous bone cell product, is currently in pivotal Phase IIb/III clinical studies for two indications: osteonecrosis and non-union fractures, and in Phase II for severe osteoporosis. ALLOB®, its allogeneic “off-the-shelf” bone cell product, is in Phase II for the treatment of delayed-union fractures and lumbar fusion for degenerative disease of the spine. The company also runs preclinical research programs and develops novel product candidates.

Founded in 2006, Bone Therapeutics is headquartered in Gosselies (South of Brussels, Belgium). Bone Therapeutics’ regenerative products are manufactured to the highest GMP standards and are protected by a rich IP estate covering 9 patent families.

(www.bonetherapeutics.com)

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