“This agreement with Bone Therapeutics highlights the value of Medsenic’s highly complementary businesses, offers our shareholders attractive and certain value, and brings together cutting-edge expertise and drug delivery platforms to accelerate growth and create new opportunities.”
Link to the CF News article: Medsenic article
In order to launch phase 3 of its clinical trial into the treatment of chronic graft-versus-host disease using arsenic salts, the Strasbourg-based company Medsenic is merging with the Belgian firm Bone Therapeutics, a specialist in orthopaedic cell therapy, on 25 October 2022. Medsenic is now conducting its trials of arsenic-based drugs across the border in Belgium.
The closing follows the fulfilment of all previous conditions precedent and the approval of the transaction at the Bone Therapeutics shareholders’ meeting (‘ESM’), which took place on Monday 24 October 2022.
The majority of Medsenic’s shareholders sold 51 per cent of the share capital in exchange for shares in Bone Therapeutics, at an estimated valuation of 40 million euros.
Renamed BioSenic upon completion of the transaction, the company is now led by Medsenic’s current chairman, François Rieger, who has been appointed CEO, supported by Véronique Pomi-Schneiter and Anne Leselbaum (Bone’s medical director). Jean-François Rax, the representative of Capital Grand Est, sits on the board of directors of Bone Therapeutics, which plans to acquire the remaining 49 per cent within thirty-six months.
This merger will enable the company to become the scientific hub of the new entity, expanding its therapeutic portfolio beyond its current trials.
“This agreement with Bone Therapeutics highlights the value of Medsenic’s highly complementary activities, offers our shareholders attractive and certain value, and brings together cutting-edge expertise and drug delivery platforms to accelerate growth and create new opportunities,” said François Rieger, Chairman and Chief Executive Officer of Medsenic.
Lead lewyers:
Christophe Joffe, Océane Christmann and François Galéa
Parties involved in the transaction:
Acquirer or investor: BIOSENIC(EX BONE THERAPEUTICS) , Jean Stéphenne
Seller: CAPITAL GRAND EST , FA DIESE , OUEST ANGELS CAPITAL , BUSINESS ANGEL(S)
