ABSCIENCES (EPA:AB) Successful IPO of AB Science on NYSE Euronext - Compartment B

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23/04/2010 17:51

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Paris, April 23rd , 2010 - For immediate release

Successful IPO of AB Science on NYSE Euronext - Compartment B

* Offering Price: EUR12.65 per share - Amount raised by the company: EUR16.5M

* Amount of the offer: approximately EUR27.5M

* Trading to begin on April 26th, 2010

AB SCIENCE, a pharmaceutical company specializing in the research, development
and commercialization of protein kinase inhibitors (PKIs), has announced the
final terms of its initial public offering on Euronext Paris (Compartment B,
ISIN: FR0010557264 - Ticker: AB).

Through this IPO, AB Science has raised over 16.5 million euros, dedicated to
pursuing and expanding the scope of the clinical development of its lead
compound, masitinib.

Commenting on the results of the initial public offering, Mr. Alain Moussy,
Chief Executive Officer of AB Science Group said: "We are very happy with our
company's successful listing, and we want to thank all of the European
institutional and individual shareholders who have joined us in this ambitious
effort. By listing, we have raised the funds we need to start up new Phase 3
clinical studies for our fla gship molecule masitinib in human medicine
(multiple myeloma, multiple sclerosis, Alzheimer's disease, rheumatoid
arthritis and severe asthma), and thus pursue the mission that has driven us
from the start: delivering targeted therapies that can dramatically improve
quality of life for patients suffering from cancer, neurodegenerative disorders
and inflammatory diseases".

GENERAL TERMS OF THE GLOBAL OFFERING

Offering Price

   * The offering price for the global offering is EUR12.65 per share(1).

This price results in a market capitalization for the AB Science Group of
approximately EUR379 million, making the company one of the biggest in the
industry in France.

Size of the Offer and gross proceeds of the global offering (not including the
Over-Allotment Option)(2)

* 1,305,700 new shares have been issued and 864,394 existing shares have been
  sold (including 137,574 for the extension clause)
* The gross proceeds, after partial exercise of the extension clause, totals
  approximately EUR27.5M after, of which 16.5 MEUR from newly issued shares and
  approximately 11MEUR for the selling sha reholders

(1) The indicative initial price range was comprised between EUR13.95 and
    EUR17.05 per share and revised between EUR12.30 and EUR13.00.
(2) Over-allotment option: The number of shares offered may be increased by a
    maximum of 325.515 supplementary existing shares to be sold, i.e. 15% of
    the initial offering (including the Extension clause).

Breakdown of the Offering (not including the Over-Allotment Option)

* Global Placement: 1,820,701 shares were placed in the French and
  international offering (i.e. approximately EUR23.1 million or 84% of the
  offered shares).
* Public Offering in France: 349,393 shares were placed in the French public
  offering (i.e. approximately EUR4.4 million or 16% of the offered shares).
* For the public Offering, A1 orders are 100% satisfied and A2 orders are 59.7%
  satisfied.

Offering Timetable

* Trading on Euronext Paris (Compartment B) to begin on April 26th , 2010.
* Settlement and delivery of the shares is expected to take place on
  April 28th, 2010.
* May 21st , 2010 - Deadline for exercising the Over-allotment option / End of
  stabilization period

Banking syndicate

Société Générale Corporate & Investment Banking is acting as Lead manager
and bookrunner.

             Fortis Bank Nederland is acting as Joint lead manager.

Financial Communication & Press Relations

Contacts Citigate Dewe Rogerson :
Agnès Villeret - Tel: +33 1 53 32 78 95 - agnes.villeret@citigate.fr
Matthieu Pirouelle - Tel : +33 1 53 32 84 77 - matthieu.pirouelle@citigate.fr

Public information

Copies of the Prospectus are available free of charge from the Company and from
the Lead Manager and Bookrunner and the Joint-Lead Manager. The Prospectus may
be viewed on the websites of the Company (www.ab-science.com) and the AMF
(www.amf-france.org). The legal and financial documents required to be made
available to shareholders may be consulted at the registered office of the
Company, 3 avenue George V, 75008 Paris. The attention of investors is drawn to
Section 4, "Risk Factors", contained in the Document de base registered with
the AMF, the update of such Document de base filed with the AMF and to Section
2 "Risk Factors" contained in the Note d'opération.

About AB Science

Founded in 2001, AB Science is a pharmaceutical company specializing in the
research, development and commercialization of protein kinase inhibitors
(PKIs), a new class of targeted molecules whose action is to modify signalling
pathways within cells. Through these PKIs, the Company targets diseases with
high unmet medical needs (cancer, inflammatory diseases and central nervous
system diseases), in both human and veterinary medicines. Thanks to its
extensive research and development capabilities, AB Science has its own
portfolio of molecules. Masitinib, a lead compound, has already been registered
in  veterinary medicine in Europe and is pursuing three on-going phases 3 in
human medicine in pancreatic cancer, GIST and mastocytosis.

  Further information is available on AB Science's website: www.ab-science.com

Disclaimer

This press release, together with the material set forth herein, does not
constitute an offer of securities for sale nor the solicitation of an offer to
purchase securities in any jurisdiction. Distribution of such press release in
certain jurisdiction may constitute a breach of applicable laws and regulation.

In particular:

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any financial instruments in the United States. Securities
mentioned in this document have not been and will not be registered under the
Securities Act of 1933, as amended (the "Securities Act") and may not be
offered or sold in the United States absent registration or an exemption from
the registration requirements of the Securities Act. Any public offer of
securities in the United States shall be made by means of a prospectus that
may be obtained from the issuer containing detailed information regarding the
Company, its management and financial statements. The Company does not intend
to register this offering in all or in part or to make a public offer of
securities in the United States.

This press release is not an invitation nor is it intended to be an inducement
to engage in investment activity for the purpose of section 21 of the Financial
Services and Markets Act 2000, as amended ("FSMA"). This document is directed
only at (i) persons outside the United Kingdom; or (ii) persons in the United
Kingdom that are "qualified investors" within the meaning of Article 2(1)(e) of
Directive 2003/71/EC including any relevant implementing measure in each member
state, that are also (a) persons authorised under FSMA or otherwise having
professional experience in matters relating to investments and qualifying as
investment professionals under article 19 of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion
Order"); or (b) institutions or corporations qualifying as high net worth
persons under Article 49(2)(a) to (d) of the Financial Promotion Order; or (c)
any other persons to whom this document for the purposes of Section 21 of FSMA
can otherwise lawfully be made (all such persons together being referred to as
"Relevant Persons"). Any person in the United Kingdom that is not a Relevant
Person should not act or rely on this document.

This document con tains forward-looking statements. No guaran tee can be given
as to any of the events anticipated by the forward-looking statements, which
are subject to inherent risks, including those described in the Prospectus,
changes in economic conditions, the financial markets or the markets in which
AB Science operates.

Société Générale, acting as stabilizing agent, or any institution acting on
its behalf (the "Stabilizing Agent") may, during a period of 30 days following
the date on which the offering price is determined, ie, according to the
indicative timetable, from April 23 to May 21, 2010, effect transactions with a
view to maintaining the market price of AB Science shares in a manner
consistent with applicable laws and regulations and, in particular,
EU Commission regulation no 2273/03 of December 22, 2003. However, there is no
assurance that the Stabilizing Agent will take any stabilizing action and, if
begun, such stabilizing action may be interrupted at any time. Any stabilizing
action may affect the price of AB Science shares and could result in market
prices for the shares higher than those which might otherwise prevail.

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