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Bone Therapeutics SA announces results of Annual General Meeting

(June 14, 2018)

Press release

Bone Therapeutics announces results of Annual General Meeting

Company reshapes and strengthens its Board of Directors with focus on improving governance and diversity

Additional Extraordinary Shareholders Meeting to be conducted in July



Gosselies, Belgium, 14 June 2018, 7am CEST - BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), the bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases, today announces the results of its Annual General Meeting (AGM) held at the Company's headquarters in Gosselies.

At the AGM, held on 13 June 2018, the appointment of Jean Stéphenne as Chairman of the Company's Board of Directors and the appointments of Claudia D'Augusta, Dirk Dembski (representative of Marc Alexander Initiative & Advisory GmbH) and Jean-Paul Prieels as Independent Directors were approved. In addition, Jean-Luc Vandebroek, Chief Financial Officer, was nominated to the Board as an Executive Director.

After a successful tenure during which they have helped transform a promising spin-off into a mature listed biotech company with a clinically advanced pipeline, Chris Buyse, Paul Magrez and Thierry François have announced their resignation from the Board. To maintain an agile structure, the Board of Directors has decided to limit the number of Directors to nine.

The changes in board composition are part of an ongoing reshaping exercise, which aims to further enhance the Board's effectiveness with an increased attention to diversity in both gender and expertise. The new board composition will allow the Company to be optimally prepared for future challenges.

Jean Stéphenne, Chairman of the Board of Directors of Bone Therapeutics, commented: "I would like to personally thank Chris, Paul and Thierry for their invaluable guidance to Bone Therapeutics over the past eight years during which time the Company has, with their support and strategic counsel, developed into a successful public company."

"I would also like to take this opportunity to welcome our new board members. We expect their strong experience and expertise to significantly benefit the Company as we continue the development of our proprietary bone cell therapy programs. As Bone Therapeutics advances its products towards commercialisation, we will continue to focus on the strength and diversity of the Board and will seek to recruit individuals who can provide the highest quality of governance and stewardship going forward."

As the shareholders present at the subsequent Extraordinary Shareholders Meeting did not represent the required quorum of 50% of the share capital, an additional Extraordinary General Shareholders meeting will be conducted on Monday 9 July 2018.

About Bone Therapeutics

Bone Therapeutics is a leading cell therapy company addressing high unmet needs in orthopaedics and bone diseases. Based in Gosselies, Belgium, the Company has a broad, diversified portfolio of bone cell therapy products in clinical development across a number of disease areas targeting markets with large unmet medical needs and limited innovation.

Bone Therapeutics' technology is based on a unique, proprietary approach to bone regeneration, which turns undifferentiated stem cells into "osteoblastic", or bone-forming cells. These cells can be administered via a minimally invasive procedure, avoiding the need for invasive surgery.

The Company's primary clinical focus is ALLOB®, an allogeneic "off-the-shelf" cell therapy product derived from stem cells of healthy donors, which is in Phase II studies for the treatment of delayed-union fractures and spinal fusion. The Company also has an autologous bone cell therapy product, PREOB®, obtained from patient's own bone marrow and currently in Phase III development for osteonecrosis of the hip.

Bone Therapeutics' cell therapy products are manufactured to the highest GMP standards and are protected by a rich IP estate covering nine patent families. Further information is available at: www.bonetherapeutics.com.

Contacts

Bone Therapeutics SA
Thomas Lienard, Chief Executive Officer
Jean-Luc Vandebroek, Chief Financial Officer
Tel: +32 (0) 71 12 10 00
[email protected]

For Belgium and International Media Enquiries:
Consilium Strategic Communications
Amber Fennell, Jessica Hodgson, Hendrik Thys and Lindsey Neville
Tel: +44 (0) 20 3709 5701
[email protected]

For French Media and Investor Enquiries:
NewCap Investor Relations & Financial Communications
Pierre Laurent, Louis-Victor Delouvrier and Nicolas Merigeau
Tel: + 33 (0)1 44 71 94 94
[email protected]

For US Media and Investor Enquiries
Westwicke Partners
John Woolford
Tel: + 1 443 213 0506
[email protected]

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors` current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person`s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.


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