Belgian cell therapy specialist Bone Therapeutics has unveiled plans for an initial public offering on European stock markets which it hopes will raise 20-25 million euros.

The company is looking to list on the Euronext exchanges in Brussels and Paris. It intends to use the funds raised principally to support development of two bone cell products.

The first, called Preob, is currently in Phase IIb/III 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.

Chief executive Enrico Bastianelli said the firm is developing “a leading and innovative breakthrough technology” and its products, composed of differentiated bone cells enabling bone regeneration, “bring a new treatment paradigm to the field of fracture repair and fracture prevention”.

He added that results gathered so far “have been very positive and address areas of high unmet medical need with limited competition. To pursue ongoing clinical development and consider product commercialisation, we believe that this is the ideal time to apply for a listing”.