In a twist, cell ther­a­py de­vel­op­er sees C-suite ex­o­dus while slash­ing costs

We’ve seen the same scene plen­ty of times over re­cent months: A trou­bled biotech, usu­al­ly a mi­cro­cap, let­ting go of a por­tion of its em­ploy­ees and thank­ing them for past con­tri­bu­tions while ex­ecs vow to turn things around. But in the case of Bone Ther­a­peu­tics, lead­ers in the C-suite are among the first to go.

The Mont-Saint-Guib­ert, Bel­gium-based biotech said Tues­day morn­ing that it’s de­cid­ed to go all in on the lead can­di­date, the re­gen­er­a­tive bone cell ther­a­py AL­LOB. To pre­serve enough cash for the on­go­ing Phase IIb study in tib­ial frac­tures, it’s stop­ping all un­re­lat­ed ac­tiv­i­ties — in­clud­ing pre­clin­i­cal work on its tech plat­form — and im­ple­ment­ing “a num­ber of ac­tions to re­duce its cost base.”

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