Bone Therapeutics and Cellthera Pharm intend to cooperate

| By | Drug Development, Pharmstandard
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Bone Therapeutics, the bone cell therapy company addressing high unmet medical needs in orthopaedics and bone diseases, and Cellthera Pharm LLC., the cell therapy subsidiary of Pharmstandard, JSC, a leading Russian pharmaceutical group, today announce that they have the intention to collaborate in the field of cell-based therapies for orthopaedics and bone diseases.

The companies will explore the opportunity of a potential licensing of Bone Therapeutics’ cell therapy platforms, PREOB® in non-traumatic osteonecrosis of the hip and ALLOB® for use in delayed union fractures to Cellthera Pharm LLC for the Russian Federation and CIS countries. The project between the companies remains subject to further discussions and due diligence and, at this stage, it cannot be guaranteed the proposed collaboration will occur.

Furthermore, Pharmstandard International S.A., a fully owned subsidiary of Pharmstandard, JSC – Russia’s leading pharmaceutical producer, has expressed an intention to participate in a future fundraising of Bone Therapeutics, if and when such a fundraising was to occur.

Bone Therapeutics is a leading cell therapy company with focus 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.

SOURCE: globenewswire
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