Bone Therapeutics has been granted EUR1 million from the Directorate-General for Economy, Employment and Research of the Walloon Region, Belgium.
This funding will provide further financial support to Bone Therapeutics, in addition to recent financing, to advance its current pivotal phase III clinical study with the enriched protein solution, JTA-004.
The JTA-004 phase III study is a controlled, randomised, double-blind trial. It is evaluating the potential of a single, intra-articular injection of JTA-004 to reduce osteoarthritic pain in the knee compared with placebo or Hylan G-F 20, the leading current osteoarthritis treatment on the market. The study is being conducted in six European countries as well as Hong Kong SAR. Since the initiation of the trial in mid-May 2020, 164 patients have already been treated, roughly 20% of the targeted assessable patients. At the current recruitment rate, Bone Therapeutics expects to complete patient enrolment before year-end and anticipates reporting topline results on the three-month primary endpoint and six-month follow-up period in the second half of 2021.
“The continued support of Bone Therapeutics by the Directorate-General for the Economy, Employment and Research of the Walloon Region, and especially the Department SPW-Research, has been very important to advancing our program of orthopedics and bone disease therapies,” said Miguel Forte, MD, PhD, Chief Executive Officer of Bone Therapeutics. “This specific financial support will provide additional assistance in further advancing our phase III trial in knee osteoarthritis and will add extra momentum to discussions with potential business partners. The successful completion of this study aims at confirming the safety and efficacy of JTA-004 towards commercialisation as a potential new and much-needed treatment option for this large patient population.”