Abivax, a late-stage French biotech developing therapies for chronic inflammatory diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on the Euronext Paris under the symbol "ABVX".
Abivax is focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases. The company is currently evaluating its lead candidate, obefazimod, in Phase 3 trials for the treatment of adults with moderately to severely active ulcerative colitis. It is also in the planning stages of initiating a Phase 2a trial of obefazimod in patients with Crohn’s disease, as well as evaluating other potential inflammatory indications.
The Paris, France-based company was founded in 2013 and booked $5 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol ABVX. Abivax filed confidentially on December 16, 2022. Morgan Stanley and Leerink Partners are the joint bookrunners on the deal. No pricing terms were disclosed.
