BioSenic and 4Moving Biotech enter into binding co-development agreement dedicated to developing first-in-class therapies targeting the progression of knee osteoarthritis
Biosenic and Global Tech Opportunities 15 ("GTO 15") have entered into an amendment to the convertible bonds ("CB") agreement securing a further EUR 2 million of the program, including thirteen tranches of EUR 150,000 each and a last tranche of EUR 50,000
Mont-Saint-Guibert, Belgium, 1 July 2025 at 7:30 PM - BIOSENIC (Euronext Brussels and Paris: BIOS) announces1 (i) the signing of a binding co-development agreementi with 4Moving Biotech (4MB), a French clinical-stage company developing first-in-class therapies targeting the progression of knee osteoarthritis in humans and (ii) the securing of its financing for the next 14 months by means of an amendment to the convertible bonds agreement with GTO 15 allowing it to draw up to a further EUR 2 million, including thirteen tranches of EUR 150,000 each and a last tranche of EUR 50,000, without any liquidity conditions until the new 9th tranche.
BioSenic and 4MB will join forces in a co-risk, co-shared development program ("CCD") targeting post-ligament surgery (PLS) recovery in dogs, a significant unmet need in companion animal orthopedics. The collaboration aims to demonstrate clinical proof-of-concept in dogs undergoing post-operative recovery after ligament repair. With its unique anti-inflammatory and anti-catabolic and regenerative action, 4P004 is positioned as a potential first-in-class in veterinary orthopedics.
4P004 is a GLP-1 analog tailored for intra-articular use in knee osteoarthritis. It was developed to exploit the analgesic, anti-inflammatory, anti-catabolic, and anabolic benefits of GLP-1. Preclinical studies suggest that 4P004 may slow disease progression and improve joint function by modulating the biological pathways throughout all joint tissues. This positions 4P004 as a disease-modifying treatment candidate that could significantly improve patient outcomes. Within this collaboration, a veterinary-specific formulation - 4P004v - will be co-developed for dogs recovering from ligament surgery.
Under the terms of the agreement:
BioSenic will provide its scientific expertise in knee osteoarthritis and co-funding for the CCD program.
4Moving Biotech will contribute the full scientific and technical package of 4P004, including:
A non-clinical development dossier (in vitro, ex vivo, in vivo pharmacology, pharmacokinetics, pharmacodynamics, toxicology)
Completed Phase 1 clinical data in humans (LASARE study)
A proprietary intra-articular formulation protected by multiple patent families
Revenue generated from future commercialization in the veterinary field will be shared. 4Moving Biotech retains exclusive rights to the broader therapeutic potential of 4P004, including human indications and future partnerships beyond the defined veterinary scope.
1 Subject to validation of the Homologation plan expected in the Summer 2025.
4Moving Biotech will co-fund and lead the program execution, including CMC development, regulatory strategy, clinical operations, and IP management, and will retain full licensing negotiation rights for all indications. A Joint Steering Committee (JSC) with equal representation will oversee the program's governance and resource allocation.
Subject to successful development and regulatory approval, 4P004v could address a significant market opportunity in veterinary orthopedics. Each year2, an estimated 750,000 to 830,000 cranial cruciate ligament (CCL) surgeries are performed in dogs across the United States and Europe. Despite the surgical nature of the condition, current postoperative care is largely limited to symptomatic treatments such as NSAIDs and corticosteroids. There are no approved regenerative or disease-modifying therapies in this indication. Based on market benchmarks in companion animal osteoarthritis and pain management - with reference prices for leading injectables such as Librela and Adequan ranging from €100 to €250 per treatment - the total addressable market for a structural, single-injection therapy following ligament surgery is estimated between €75 million and €200 million annually in the US and EU combined.
"BioSenic has a long-standing scientific and clinical legacy in orthopedics and regenerative therapies," said Jean Stephenne, Director of BioSenic: "This partnership with 4Moving Biotech reflects our renewed strategy to pursue high-value indications where the path to market is accelerated and collaborative innovation can unlock significant upside. By advancing 4P004v in a well-defined veterinary setting, we are taking a meaningful first step in this direction - one that reinforces both our heritage and our future ambitions." "This partnership with BioSenic marks a unique opportunity to clinically demonstrate the regenerative potential of 4P004 in a real-world setting," said Luc Boblet, CEO of 4Moving Biotech. "By addressing a clear need in veterinary post-ligament surgery, we are not only entering a fast-track path to market, but also reinforcing the core value proposition of 4P004 in humans - as a disease-modifying therapy capable of structurally repairing joint tissues."This co-development is designed to unlock the cross-species therapeutic potential of GLP-1 analog, while providing clinical validation for 4P004 in a new indication. It highlights how innovations originally developed for human health can be translated into high-impact solutions in veterinary medicine.
The Company further secured its future cash flow following an amendment and extension of the CB program under the convertible bonds agreement (initially entered into on 21 June 2024 between the Company and GTO 15). Pursuant to this amendment with GTO 15, the CB will now be issued and subscribed for in a maximum of fourteen tranches divided into
(i) thirteen tranches of EUR 150,000 as of June 2025 and (ii) one last tranche of EUR 50,000 in July 2026. In addition, GTO 15 has agreed to waive amongst others the liquidity conditions for the next eight tranches. The Company however needs to remain at listed company and comply with its prospectus requirements as of the second tranche to be issued under the amendment. Please refer to the press release dated 21 June 2024 (available here) for more information on the subscription agreement for a maximum of (originally) EUR 2.1 million in CBs signed with GTO 15.
The proceeds of the financing will essentially contribute to further advance the clinical development and new partnerships of BioSenic and will support the Company's continuation over the next twelve months, in particular its obligations towards its creditors under the settlement agreements3 (see in detail the press release of 18 February 2025, 7 April 2025 and 10 June 2025) for which the Company will now seek the homologation from the Commercial Court, and its other creditors under the restructuring plan homologated on 10 June 2024.
About BioSenicBioSenic is a biotechnology company with long-standing scientific and clinical legacy in orthopedics and regenerative therapies specialising in the clinical development of therapies in bone and cartilage repair.
2Academic & veterinary clinical studies.
3Subject to validation of the Homologation plan expected in the Summer 2025.
BioSenic still owns some interests in its clinical assets ALLOB and JTA but is now focussing on a joint development with 4Moving Biotech on a GLP-1-based, disease-modifying therapy for veterinary use, specifically in post-ligament surgery recovery in dogs. Biosenic is also focusing on other new potential partnerships.
BioSenic is based in Avenue Léon Champagne 3, 1480 Saintes (Tubize), Belgique. Further information is available at https://http://www.biosenic.com..
About 4Moving BiotechIncorporated in mid-2020, 4Moving Biotech is a clinical stage biotechnology company dedicated to the development of the Disease-Modifying Osteoarthritis Drug (DMOAD). Its mission is to provide a sustainable therapeutic solution to the significant unmet medical need of osteoarthritis. The company is headquartered at the Pasteur Institute in Lille, France.
Website: https://www.4movingbiotech.com
LinkedIn: https://fr.linkedin.com/company/4moving-biotech
For further information, please contact:
BioSenic SAFinsys Management SRL, represented by its permanent representative Jean-Luc Vandebroek, managing director ad interim
investorrelations@biosenic.com
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