BIOPHYTIS (EPA:ALBPS) - Biophytis obtains a €10 million loan with Kreos Capital

Transparency directive : regulatory news

13/09/2018 18:04

Press release

Biophytis obtains a EUR10 million loan with Kreos Capital

The funding will serve for the development of Biophytis Inc. in Boston and the
preparation of MYODA clinical program in Duchenne myopathy

Paris (France), September 13, 2018, 6.00pm - BIOPHYTIS (Euronext Growth Paris:
ALBPS), a biotechnology company specializing in the development of drug
candidates to fight age-related degenerative diseases, announces today the
implementation of a EUR10 million bond financing with Kreos Capital, in four
tranches available until June 2019.

Stanislas Veillet, CEO of BIOPHYTIS, stated: "This transaction allows us to
fund the development of Biophytis Inc (Cambridge, MA) where we are currently
recruiting the team to oversee the clinical and regulatory development of our
drug candidates in the US. In particular the SARA phase 2b program in
sarcopenia which already comprises 5 centers open in the US. This funding also
contributes to the preparation of the MYODA clinical program in Duchenne
myopathy, which is expected to be authorized by the FDA before the end of
2018."

The EUR10 million total loan includes four tranches of EUR2.5 million each: two
tranches could be issued as early as September 2018, a third one that could be
issued before the end of 2018 and the last one before June 2019. Besides, Kreos
will receive Biophytis' share warrants (bons de souscription d'actions " BSA ")
for a valuation of EUR1 million.

Main characteristics of the bonds

The financing is made of 10 million of single bonds with a nominal value of 1
euro, divided in four tranches of 2.5 million euros each. Issue dates were
established at the agreements' signing date, no later than September 30th, 2018
for the first two tranches, then in the last quarter of 2018, finally in the
first quarter of 2019, with the possibility to postpone one of the draws in
second quarter 2019. Each tranche bears a 10% annual interest rate. Tranches
will be repaid in 36 monthly installments, after a deferred repayment of the
nominal amount from April 2019.

The loan is a senior unsubordinated financing. It has been guaranteed by the
usual granting of certain Biophytis' intangible assets.

Main characteristics of the share warrants (bons de souscription d'actions "
BSA ")

Biophytis will issue for the benefit of Kreos Capital 442,477 share warrants ("
BSA ") giving the right to subscribe to new Biophytis ordinary shares, on the
basis of one share for one share warrant (BSA). The subscription warrant can be
exercised over a 7-year period after being issued. The exercise price of the
share warrants has been set at EUR2.67.

A shareholder holding 1% of the company's capital before exercising the share
warrants (BSA), will hold 0,97% of the capital after the full exercise of the
warrants, based on the (diluted or non-diluted) number of shares comprising the
Company's social capital (13,463,413 shares).

Legal framework of the transaction

In accordance with the provisions of article L.228.40 of French commercial law,
the bond issue is subject to the approval of the Board of Directors of the
company, which met on July 10th, 2018.
The share warrant (BSA) issue was determined by the Chief Executive Officer
during the sub-delegation of the Board, making use of the delegation of
authority conferred by the 8th resolution of the Extraordinary General Meeting
of June 4th, 2018, relating to the completion of an offer with cancellation of
preferential subscription rights for the benefit of a category of
beneficiaries, in compliance with article L225-138 of French commercial law.
Within this framework and in accordance with article 211-3 of the AMF general
regulations, share warrants issue for the benefit of Kreos Capital doesn't
require to prepare a prospectus to be submitted for approval by the AMF.

Admission of new ordinary shares by exercise of the share warrants (BSA)
The admission of the new ordinary shares to trading on the regulated market of
Euronext Paris will be requested under the existing ISIN code of the ordinary
shares of Biophytis (ISIN: FR0012816825). The new ordinary shares will be
immediately assimilated to the existing ordinary shares. Neither bonds nor
share warrants will be listed on Euronext Paris.

About BIOPHYTIS
Biophytis SA (www.biophytis.com), founded in 2006, develops drug candidates
targeting diseases of aging. Using its technology and know-how, Biophytis has
begun clinical development of innovative therapeutics to restore the muscular
and visual functions in diseases with significant unmet medical needs.
Specifically, the company is advancing two lead products into mid-stage
clinical testing this year: Sarconeos (BIO101) to treat sarcopenic obesity and
Macuneos (BIO201) to treat dry age-related macular degeneration (AMD).
The business model of BIOPHYTIS is to ensure the conduct of the project until
clinical activity in the patient is proven, then to license the technologies in
order to continue the development in partnership with a pharmaceutical
laboratory.
Based on the Sorbonne Université campus, Biophytis collaborates with expert
scientists from several Sorbonne Université institutes such as the Paris Seine
Biology Institute, the Institute of Myology, and the Vision Institute.

BIOPHYTIS is listed on the Euronext Growth market of Euronext Paris (ALBPS;
ISIN: FR0012816825).

For more information: http://www.biophytis.com

Follow us on Twitter @biophytis

BIOPHYTIS is eligible for the SMEs scheme

Disclaimer

This press release contains certain forward-looking statements. Although the
Company believes its expectations are based on reasonable assumptions, these
forward-looking statements are subject to numerous risks and uncertainties,
which could cause actual results to differ materially from those anticipated.
For a discussion of risks and uncertainties which could cause the Company's
actual results, financial condition, performance or achievements to differ from
those contained in the forward looking statements, please refer to the Risk
Factors ("Facteurs de Risque") section of the Listing Prospectus upon the
admission of Company's shares for trading on the regulated market Euronext
Growth of Euronext Paris filed with the AMF, which is available on the AMF
website (www.amf- france.org) or on BIOPHYTIS' website (www.biophytis.com).

This press release and the information contained herein do not constitute an
offer to sell or a solicitation of an offer to buy or subscribe to shares in
BIOPHYTIS in any country. Items in this press release may contain
forward-looking statements involving risks and uncertainties. The Company's
actual results could differ substantially from those anticipated in these
statements owing to various risk factors which are described in the Company's
prospectus. This press release has been prepared in both French and English. In
the event of any differences between the two texts, the French language version
shall prevail.

BIOPHYTIS
Stanislas VEILLET
CEO
contact@biophytis.com
Tel: +33 (0) 1 44 27 23 00

Citigate Dewe Rogerson
International media & Investors
Laurence BAULT/Antoine DENRY
Laurence.bault@citigatedewerogerson.com
antoine.denry@citigatedewerogreson.com
Tel: +33 (0)1 53 32 84 78
Mob: +33(0)6 64 12 53 61

LifeSci Advisors
Chris MAGGOS
Managing Director, Europe
chris@lifesciadvisors.com
Tel: +41 79 367 6254

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