BIOPHYTIS (EPA:ALBPS) - Biophytis announces the issue of 2,050,000 new shares in a capital increase reserved for NEGMA

Transparency directive : regulatory news

10/06/2020 08:00

Press release

Biophytis announces the issue of 2,050,000 new shares in a capital increase
reserved for NEGMA

Paris, (France), Cambridge (Massachusetts, United States), June 10, 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, including neuromuscular diseases, today
announces that it has issued 2,050,000 new shares to the benefit of NEGMA Group
LTD ("Negma") within the framework of a capital increase reserved for it on the
basis of the tenth delegation of the general meeting of May 28, 2020.

Pursuant to a summary judgment dated May 7, 2020, Negma obtained a decision
partially responding to its claims ordering, under penalty, Biophytis to (i)
pay damages in an amount of EUR378,067, and (ii) deliver 2,050,000 Biophytis
shares. Although Biophytis appealed this decision on May 25, 2020, the decision
is enforceable. Biophytis therefore proceeded, on June 5, 2020, (i) to the
payment of the aforementioned EUR378,067 amount, and (ii) by means of the issue
reserved for Negma described above, to the delivery on June 9, 2020 of
2,050,000 Biophytis shares, so that its obligations under the Order of May 7,
2020 have been fulfilled.

As a consequence of the issuance of these new shares, the share capital of
Biophytis has been increased to 44,311,594 shares corresponding to a dilution
of 4.63%.

As a reminder, Negma undertook legal action in order to claim damages in an
amount of EUR910,900 from Biophytis as well as the delivery of 7,000,000
Biophytis shares, that Negma considers it was entitled to pursuant to the only
Biophytis ORNANES still held by Negma, issued in consideration for a loan of
EUR1,400,000 in principal. Negma has thus summoned Biophytis to appear before
the Paris Commercial Court in order to obtain an order against Biophytis to pay
or deliver (as the case may be) the balance of the sums and Biophytis shares
initially claimed by Negma and whose payment or delivery (as the case may be)
had not been obtained by Negma in the context of the order of May 7, 2020.

Biophytis vigorously disputes this legal action and these requests for payment
and delivery of shares. Biophytis also intends to ask the Commercial Court of
Paris to rule on the merits of its position with respect to Negma and on the
faults committed by the latter.

About BIOPHYTIS

Biophytis SA is a clinical-stage biotechnology company specialized in the
development of drug candidates to slow down degenerative processes and improve
functional abilities in patients with age- related diseases, especially
neuromuscular diseases.

Sarconeos (BIO101), our leading drug candidate, is a small molecule,
administered orally, currently in clinical Phase 2b in sarcopenia (SARA-INT) in
the United States and Europe. A pediatric formulation of Sarconeos (BIO101) is
being developed for the treatment of Duchenne Muscular Dystrophy (DMD). The
company plans to start the clinical development (MYODA) in H2 2020.

Sarconeos (BIO101) will also be developed as a treatment for Covid-19
(Coronavirus). The Company has received approval from the Belgian Regulatory
Authority (FAMHP) to begin the Phase 2/3 clinical trial (COVA) with Sarconeos
(BIO101), evaluating it as a potential treatment for respiratory failure
associated with Covid-19. The Company also filed clinical trial applications
with the FDA in the US, MHRA in the UK and the French regulatory agency, ANSM
in France.

The company is based in Paris, France, and Cambridge, Massachusetts. The
company's common shares are listed on the Euronext Growth Paris market (Ticker:
ALBPS -ISIN: FR0012816825). For more information www.biophytis.com.

Disclaimer

This press release contains forward-looking statements. While the Company
considers its projections to be based on reasonable assumptions, these
forward-looking statements may be called into question by a number of hazards
and uncertainties, so that actual results may differ materially from those
anticipated in such forward- looking statements. For a description of the risks
and uncertainties likely to affect the results, BIOPHYTIS' financial position,
performance or achievements and thus cause a change from the forward-looking
statements, please refer to the "Risk Factors" section of the Company's 2018
Annual Report available on BIOPHYTIS website ( www.biophytis.com).
This press release, and the information contained in it, does not constitute an
offer to sell or subscribe, nor the solicitation of a purchase or subscription
order, of BIOPHYTIS shares in any country. The elements contained in this
communication may contain forward-looking information involving risks and
uncertainties. The Company's actual achievements may differ materially from
those anticipated in this information due to different risk and uncertainty
factors. This press release was written in French and English; If there is a
difference between the texts, the French version will prevail.

Biophytis Contact for Investor Relations
Evelyne Nguyen, CFO
evelyne.nguyen@biophytis.com
Tel: +33 1 44 27 23 32

Media contact
Citigate Dewe Rogerson
Sylvie Berrebi/ Nathaniel Dahan/ Quentin Dussart
biophytis@citigatedewerogerson.com
Tel: +44 (0) 20 7638 9571 / +33 (0)6 59 42 29 35

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