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PRESS RELEASE
12 April 2024
Press Release
Media Contacts:
IB Communications
BioSenic provides further information on its restructuring plan
Mont-Saint-Guibert, Belgium, 12 April 2024 – BioSenic (Euronext Brussels and Paris: BIOS), the clinical-stage company specializing in serious autoimmune and inflammatory diseases and cell therapy, as part of the global restructuring plan announced on 11 April 2024, provides information on (i) the Company's current debt position and the potential impact of the plan on this position and (ii) links to the Company's website to consult the conversion terms and conditions offered to holders of convertible bonds (excluding Global Tech Opportunities 15) as part of the plan.
The impact that the global restructuring plan could have on BioSenic's debt position is as follows:
Table may note display correctly - please download for correct data display.
1: Due 2: Paid within 5 years 3: 31/12/2030+24 months
Extraordinary lease: 1: €61.211,77 2: €61.211,77
Ordinary 1: €2.750.655,64 2: €137.532,78
Strategic 1: €223.869,65 2 :€201.482,69
Accessories employee 1: €8.736,45 2: €8.649,09
Interco 1: €8.736,45 2: €436,82
Very useful 1: €344.209,67 2: €172.104,84
Shareholder 1: €124.912,50
Non-convertible bonds 1: €4.121.800,00 3: €4.121.800,00
Convertible bonds 1: €2.000.000,00 3: €2.000.000,00
Loan 1: €1.500.000,00 3: €1.500.000,00
Bullet 1: €8.487.200,00 3: €8.487.200,00
Sub-total allocated 1: €19.631.332,12 2: €581.417,99 3: €16.109.000,00
Unallocated converted 1: €2.400.000,00
Total 1: €22.031.332,13 2: €581.417,99 3: €16.109.000,00
It should be noted, however, that this table only shows the potential impact of the plan if it were to be accepted as it stands and does not take into account any new debt that the Company may incur in the future. This is also a non-consolidated view of the Company, as the debt of the subsidiary Medsenic is not taken into account.
BioSenic has also posted a summary of the conversion terms offered to holders of convertible bonds (excluding Global Tech Opportunities 15) under the plan on the "investors" section of its website and accessible via the following link: https://biosenic.com/sites/default/files/2024-04/BioSenic_summary%20bonds%20refinancing_20240411.pdf
About BioSenic
BioSenic is a leading biotech company specializing in the development of clinical assets issued from its Medsenic’s arsenic trioxide (ATO) platform. Key target indications for the autoimmune platform include graft-versus-host-disease (GvHD), systemic lupus erythematosus (SLE), and now systemic sclerosis (SSc).
Following the merger in October 2022, BioSenic combined the strategic positionings and strengths of Medsenic and Bone Therapeutics. The merger specifically enables Medsenic/Biosenic to develop an entirely new arsenal of various anti-inflammatory and anti-autoimmune formulations using the immunomodulatory properties of ATO/oral ATO (OATO).
BioSenic is based in the Louvain-la-Neuve Science Park in Mont-Saint-Guibert, Belgium. Further information is available at http://www.biosenic.com.
About BioSenic's technology platforms
The ATO platform has immunomodulatory properties with fundamental effects on the activated cells of the immune system. One direct application is its use in autoimmunity to treat in its chronic, established stage. Chronic GvHD is one of the most common and clinically significant complications affecting long-term survival of allogeneic hematopoietic stem cell transplantation (allo-HSCT), a curative treatment for patients with serious blood diseases, including cancers.
BioSenic’s intravenous ATO formulation, Arscimed(R), has orphan drug designation status by FDA and EMA, and it has shown good safety and significant clinical efficacy for skin, mucosae, and the gastrointestinal tract in an early Phase 2a study. The company is planning a confirmatory international Phase 3 study with its oral ATO (OATO) formulation. OATO will also target moderate-to-severe forms of SLE. BioSenic is also developing a new IP-protected composite ATO formulation for the treatment of SSc, a serious chronic disease that affects skin, lungs or vascularization, and has no current effective treatment. Preclinical studies on pertinent animal models support the launch of a Phase 2 clinical trial.
ALLOB is an allogeneic cell therapy platform made of differentiated, bone marrow-sourced mesenchymal stromal cells (MSCs), which can be stored at the point-of-use in hospitals. ALLOB represents a unique and proprietary approach to organ repair, and specifically to bone regeneration, by turning undifferentiated MSCs from healthy donors into bone-forming cells at the site of injury. BioSenic is studying the results of a recent Phase 2b trial, to optimise the efficacy of ALLOB by determining the best timing for therapeutic intervention and seeking partners to continue the development of promising underlying therapy strategies.
The company is also exploring partnerships at all levels for its JTA-004viscosupplement for a severe inflammatory subtype of osteoarthritis, following a positive post hoc analysis of Phase 3 data demonstrating safety and efficacy in selected osteoarthritic patients in support of any possible licensing.