NFL Biosciences goes public, raises €5m

NFL Biosciences, based in Montpellier, develops botanical drugs treating addiction. Its most advanced candidate is NFL-101. The allergenic extract from tobacco leaves was used off-label as a smoking cessation aid for years. NFL is now planning to bring the product to market. NFL-101 is ready to enter Phase II/III clinical study with a multicentric, double blind, placebo controlled clinical trial. Alongside NFL-101, NFL Biosciences has various development projects focused on botanical drugs for the treatment of cannabis use disorder and alcoholism.

On Monday, the company started trading at Euronext Growth Paris. After its IPO, NFL raised €5m. The price was set at €3.80 per share and the offer was fully subscribed. The capital increase will chiefly go towards the Phase II/III trial for NFL-101. “The proceeds will allow us to further strengthen our organisation with various critical recruitments,” said CEO Ignacio Faus. “The company will now focus on the clinical development of NFL-101 for tobacco addiction, while also launching the development of our NFL-201 and NFL-301 programmes, in order to treat cannabis addiction and reducing alcohol consumption respectively.”