Biophytis, a French Phase 2 biotech developing therapies for COVID-related complications and age-related diseases, raised $20 million by offering 1.2 million ADSs at $16.75, within the range of $15 to $18. The company is currently listed on the Euronext Growth Paris (ALBPS).
Biophytis' lead candidate, Sarconeos (BIO101), is an orally administered small molecule in development for the treatment of neuromuscular diseases, with an initial target indication of sarcopenia. Sarconeos is currently in a Phase 2 trial with top-line results expected in the 2Q21. Sarconeos is also in development to treat patients who suffer from severe respiratory manifestations of COVID-19 and is currently in an ongoing Phase 2/3 study in patients with SARS-CoV-2 pneumonia. The first interim analysis is expected to occur in the 1Q21 and submission for emergency use authorization with the FDA and conditional marketing authorization with the EMA is expected in the 2Q21.
Biophytis plans to list on the Nasdaq under the symbol BPTS. H.C. Wainwright acted as a lead manager on the deal.
