The FINANCIAL — EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for small and medium-sized companies (SMEs),on July 16 celebrated the listing of Biophytis, a French company that develops drugs to treat degenerative illnesses associated with aging. Biophytis is listed on Alternext in Paris.
Biophytis is a biotechnology company founded in 2006. It develops first-in-class drugs to treat degenerative illnesses associated with aging for which there is currently no treatment. Its two most advanced programmes, BIO101 and BIO201, relate to sarcopenia (loss of muscle function) and age-related macular degeneration (ARMD), respectively.
The company is looking to sign its first licensing agreement in 2017 with internationally known pharmaceutical companies, according to Euronext.
Biophytis (ticker code: ALBPS) was listed through the admission to trading on 13 July 2015 of 5,442,135 ordinary shares making up its equity, including 1,672,500 new shares issued through a Global Offering.
The admission and issue price of Biophytis shares was set at €6.00 per share. Market capitalisation was €32.7 million on the day of listing, and the total amount raised was €10 million.
Stanislas Veillet, Chairman and CEO of Biophytis said: “We are very proud to list on Alternext. The funds raised will go to accelerate the clinical development of our drug candidates for treating sarcopenia and ARMD. Both of these age-related illnesses, for which there is currently no treatment, are scourges of the 21st century given the general aging of our population.”
Eric Forest, CEO of EnterNext, said:“We are delighted to welcome Biophytis, a Paris region biotech company, to Alternext. We have worked with many biotech businesses as they look to financial markets for the capital they need to step up their growth. Listing will give Biophytis the resources it needs to start up its clinical trials and will also raise its profile on international markets. This is the first European company to list on Alternext that specialises in degenerative illnesses. Biophytis is also the 25th mid-size company to make its market debut with us this year. Listings have taken off since the beginning of 2015, and we are confident that this company will trigger interest from investors.”
To celebrate Biophytis’s listing, Stanislas Veillet presented two €2,500 cheques to the “Institut de Myologie” and the “Voir et Entendre” Foundation, not-for-profits dedicated to patient care.