BIOPHYTIS (EPA:ALBPS) - Biophytis announces the issuance of a €3 million tranche of ORNANE

Transparency directive : regulatory news

14/09/2020 18:00

Press Release

      Biophytis announces the issuance of a EUR3 million tranche of ORNANE

Paris, (France), Cambridge (Massachusetts, United States), September 14, 2020;
6pm CEST - Biophytis SA (Euronext Growth Paris: ALBPS), a clinical-stage
biotechnology company specialized in the development of drug candidates for
treatment of age-related diseases, including neuromuscular diseases, announces
the issuance of 120 Bonds Redeemable in Cash or New or Existing Shares
(ORNANE), for a total amount of EUR3 million. This third tranche of funding
from Atlas will enable Biophytis to continue the clinical development of
Sarconeos (BIO101) for the treatment of sarcopenia (Phase 2b SARA-INT study)
and Covid-19 related respiratory failure (Phase 2/3 COVA study).

On April 7, 2020, Biophytis announced a new line of financing that could reach
EUR24 million, raised from Atlas, a specialized investment fund based in New
York (United States). The financing instrument allows the issuance of 960
ORNANE, at a par value of EUR25,000 each. The EUR24 million total financing can
be drawn by Biophytis over the next 3 years, without obligation, through 8
successive tranches of EUR3 million each. The Company drew a first tranche of
EUR3 million during the month of April 2020, and a second tranche of the same
amount on July 1rst 2020.

The Company will keep the shareholders informed of the exercise of the ORNANE
issue warrants and the subsequent conversions, through a summary table of issue
warrants, the ORNANE, and the number of shares in circulation, which will be
available on the Company website.

Main characteristics of the ORNANE issued
The ORNANE will have a par value of EUR25,000 euros. They will not bear
interest and will have a 24-month maturity from issuance. The Holder of ORNANE
may request at any time to convert them during their maturity period, and at
that time, the Company will be able to redeem the ORNANE in cash. In case of
cash redemption, the amount reimbursed will be limited to 115% of the
principal.

Atlas has committed to subscribe to 8 tranches of the ORNANE at EUR3 million
each over the next 3 years.
At the end of the maturity period, and in the case where the ORNANE would not
have been redeemed either in cash or in new or existing shares, the holder will
have the obligation to convert the ORNANE.

Number of securities and dilution
As of September 14, 2020, based on 67,227,789 outstanding shares, and the
conversion on this day and the lowest volume weighted average price over the 10
preceding trading days, equal to EUR0.51:

Impact on a shareholder's 1% stake in the Company's
(on a non-diluted basis) capital prior to the
operation                                              Non diluted    Diluted

Before issuing of new ORNANE                              1.00%        0.91%

Upon conversion of the ORNANE from tranche 3
of Atlas: issuing of 5 835 032 additional shares          0.92%        0.85%

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, including
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) is also being developed as a treatment for COVID-19. The
Company has received approval from ANSM (France), FAMHP (Belgium), ANVISA
(Brazil), the MHRA (UK) and the FDA in the US to begin the Phase 2/3 clinical
trial (COVA) to evaluate Sarconeos (BIO101) as a potential treatment for
respiratory failure associated with COVID-19.

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 visit 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 2019
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

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

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