Biophytis launches €9m Nasdaq IPO

The clinical-stage biotech company based in Paris filed a registration statement to offer 13,125,000 of its ordinary shares in a global offering, comprised of a public offering of American Depositary Shares (ADS), each representing ten ordinary shares, and a concurrent offering of ordinary shares to qualified investors mainly in Europe. The offering price is expected to be between US$7 and US$9 per ADS, or between €0.62 and €0.80 per ordinary share. Based on a median price, the company expects to raise US$10.5m (€9.4m). Biophytis is already listed on Euronext Growth Paris (Ticker: ALBPS).

The company expects to use the money raised to advance its Phase 2b clinical trial of Sarconeos (BIO101) in sarcopenia – the age-related loss of muscle mass and strength. Biophytis also plans to continue its development of BIO101 in Duchenne Muscular Dystrophy through submission of an IND application to the FDA and clinical trial applications to the regulatory agencies in Europe. Furthermore, the US-French company aims to continue building its preclinical research and development platform on retinopathies and for other new and on-going research and development activities, working capital and other general corporate purposes.