The Enterprise Court of Brabant wallon homologated BioSenic's amicable agreements with five main creditors, hereby restructuring
over €22 million of debt
BioSenic announces the appointment of Anne-Sophie Jourdain and Seppe De Gelas as new independent directors
Saintes (Tubize), Belgium, August 4, 2025 10pm CEST - BioSenic (Euronext Brussels and Paris: BIOS announces that it has received the homologation judgment for the restructuring of over €22 million of debt with its five main creditors filed with the Enterprise Court of Brabant Wallon and announces the cooptation of two new independent directors to its board of directors, as well as the replacement of Revital Rattenbach by cooptation of Iryl Partners, represented by Mrs Revital Rattenbach (Aflalo) as independent director.
As announced in the press release of 18 February 2025 (available here), the press release of 7 April 2025 (available here) and the press release of 10 June 2025 (available here), BioSenic reached amicable agreements with its five main creditors, including the European Investment Bank for the restructuring of more than €22 million of debt. The amicable agreements with the five main creditors have now been homologated by the Enterprise Court of Brabant Wallon. The terms of the reorganisation of debt carried out last year (as homologated by the Enterprise Court of Nivelles on 14 June 2024) will be adjusted accordingly for the five main creditors concerned. BioSenic's board of directors will take the necessary decisions to implement the amicable agreements.
Now that BioSenic has been able to reduce its debt with its main creditors, the Company can focus on continuing its development. By seeking out new projects and partnerships, BioSenic aims to leverage its expertise in the clinical development of therapies to develop innovative new therapies that address unmet medical needs and improve patient outcomes.
Biosenic will now, subject to the positive opinion of its newly appointed independent directors pursuant to Article 7:97 BCCA, finalize the preparation of the co-development with 4Moving Biotech dedicated to developing first-in class therapies targeting the progression of knee osteoarthritis (see press release here).
Biosenic is also finalizing the update of its prospectus that will allow her to effectively issue the new tranches of its convertible bonds program pursuant to the recently announced amendment (see press release here).
BioSenic' board of directors has appointed (by cooptation) Mrs Anne-Sophie Jourdain and Mr Seppe De Gelas as new member of the board of directors and independent director. Both have been appointed to the BioSenic board for their experience and achievements in the legal and regulatory sectors.
"We are thrilled to welcome Anne-Sophie and Seppe to the BioSenic board of directors, both of whom have proven track records of leading innovative and complex organisations" said Jean Stephenne, Chairman of the Board.
In addition, Mrs Revital Rattenbach (Aflalo) has resigned from her mandate as director of the Company and the board of directors decided to coopt Iryl Partners, represented by Mrs Revital Rattenbach (Aflalo) as new independent director of the Company. The cooptation of the three independent directors will be submitted to the next shareholders' meeting for confirmation of the cooptation and effective appointment of the three new independent directors.
Finally, Innoste SA, permanently represented by Jean-Stéphenne, independent director, informed BioSenic that it will not seek to renew its mandate as independent director, which will expire after the shareholders' meeting that will approve the annual accounts of financial year ending 31 December 2024. BioSenic thanks Innoste SA, permanently represented by Jean-Stéphenne, who has fully performed its duties, for its services to the Company.
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.
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), Belgium. Further information is available at https://http://www.biosenic.com.
For further information, please contact:
BioSenic SAFinsys Management SRL, represented by its permanent representative Jean-Luc Vandebroek, managing director ad interim
investorrelations@biosenic.com
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the company or, as appropriate, the company directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
