Press release1
Biophytis has signed a New Convertible Bond Financing of €24million from Atlas to Continue the Development of Sarconeos (BIO101) Paris, (France), Cambridge (Massachusetts, United States), April 7, 2020, 8:00 a.m. CEST -Biophytis SA (Euronext Growth Paris: ALBPS), a clinical-stage biotechnology company specialized in the development of drug candidates for treatment of aged related diseases, amongst which neuromuscular diseases, announces it has secured a new line of financing that could reach €24 million, raised from Atlas, a specialized investment fund based in New York(United States).The financing instrument allowsthe issuance of 960 Bonds with an option for exchange in Cash and /or conversion into New or Existing Shares (ORNANE), at a par value of €25,000each. The €24milliontotalfinancing can be drawn by Biophytis over the next 3years, without obligation,through 8 successive tranches of €3 million each. This line of financing(“Atlas 2020 Contract”) will enable Biophytis (i) to continue the clinical development of Sarconeos (BIO101) for the treatment of sarcopenia (Phase 2b SARA-INT study) and Duchenne muscular dystrophy (DMD) (start of the MYODA study),and (ii) to launch the new COVA clinical development.