Biophytis: cash position strengthened, share price soars

(CercleFinance.com) - Biophytis surged on the stock market on Thursday morning following the announcement of two agreements that will enable the biotech company to strengthen its cash position.


The stock jumped by over 42% in early trading, posting the strongest gain on the Paris market in volumes so sustained that it had to be reserved for the upside.

This surge came as the biotech company announced this morning that it had granted Brazilian pharmaceutical company Blanver exclusive Latin American rights to BIO101, its lead drug candidate.

The agreement stipulates that Blanver will be responsible for the registration, marketing and commercialization of its small molecule pipeline.

It covers indications in obesity, respiratory infections due
to Covid-19, sarcopenia and Duchenne Muscular Dystrophy (DMD), once Biophytis has completed clinical studies.

The partnership includes, but is not limited to, Brazil, Mexico, Argentina and Colombia.

In its press release, Biophytis points out that Brazil is currently the fastest-growing pharmaceutical market, representing more than
23 billion dollars by 2023.

In Latin America, 100 million patients are currently suffering from obesity.

Under the terms of the partnership, Biophytis will be eligible to receive up to 108 million euros, including an upfront payment and subsequent additional payments if certain targets are met.

The company will also be eligible for double-digit royalties on BIO101 net sales if future marketing approvals are obtained.

Biophytis also announced that it has extended its contract with Atlas to secure financing for its activities.

This two-year amendment, due to expire in June 2026, will enable Biophytis to issue convertible bonds for a maximum amount of 16 million euros, in tranches of two million each.

This financing line could extend the Company's cash horizon, currently estimated at the end of August 2024, to the end of 2024, and contribute to the financing of programs in 2025.

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