BIOPHYTIS (EPA:ALBPS) - Judgment of the Paris Commercial Court of March 16, 2021 in the case of Biophytis against Negma Group Ltd

Transparency directive : regulatory news

19/03/2021 20:00

Press release

Judgment of the Paris Commercial Court of March 16, 2021 in the case of
Biophytis against Negma Group Ltd

Paris, France, Cambridge (Massachusetts, United States), March 19, 2021, 12:00
pm CET - Biophytis SA (NasdaqCM: BPTS, Euronext Growth Paris: ALBPS),
("Biophytis" or the "Company"), a clinical-stage biotechnology company focused
on the development of therapeutics that are aimed at slowing the degenerative
processes associated with aging and improving functional outcomes for patients
suffering from age-related diseases, including severe respiratory failure in
patients suffering from COVID-19, announces that, on March 16, 2021, the Paris
Commercial Court rendered a judgement in the proceedings on the merits opposing
the Company to Negma Group Ltd ("Negma") related to the ORNANEBSA agreement
entered into on August 21 2019.

Under the terms of this decision, subject to provisional execution, the Paris
Commercial Court, granting Negma's requests, ordered Biophytis to:

- pay Negma a principal sum of 910,000.62 euros in contractual penalties;

- deliver to Negma 7,000,000 shares, subject to a penalty of 50,000 euros per
day of delay as from the 10th day after the notification of the judgment and
for a period of 30 days;

- pay Negma 100,000 euros under article 700 of the French Code of Civil
Procedure as well as the expenses and legal costs.

Biophytis intends to file a motion with the Paris Commercial Court for omission
to rule, and then to appeal against this judgment, which it considers
unfounded. More generally, it will take all measures to safeguard its
interests.

About BIOPHYTIS

Biophytis SA is a clinical-stage biotechnology company specialized in the
development of therapeutics that are aimed at slowing the degenerative
processes associated with aging and improving functional outcomes for patients
suffering from age-related diseases, including severe respiratory failure in
patients suffering from COVID-19. Sarconeos (BIO101), our leading drug
candidate, is a small molecule, administered orally, being developed as a
treatment for sarcopenia in a Phase 2 clinical trial in the United States and
Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3
study (COVA) for the treatment of severe respiratory manifestations of COVID-19
in Europe, Latin America, and the US. A pediatric formulation of Sarconeos
(BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy
(DMD). 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), and ADSs are listed on Nasdaq Capital Market
(Ticker BPTS - ISIN: US09076G1040). For more information visit
www.biophytis.com

Disclaimer

This press release contains forward-looking statements. Forward-looking
statements include all statements that are not historical facts. In some cases,
you can identify these forward-looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may," "will,"
"should," "could," "seeks," "predicts," "intends," "trends," "plans,"
"estimates," "anticipates" or the negative version of these words or other
comparable words. Such forward-looking statements are based on assumptions that
Biophytis considers to be reasonable. However, there can be no assurance that
the statements contained in such forward-looking statements will be verified,
which are subject to various risks and uncertainties including, without
limitation risks described in our filings with the U.S. Securities and Exchange
Commission. The forward-looking statements contained in this press release are
also subject to risks not yet known to Biophytis or not currently considered
material by Biophytis. Accordingly, there are or will be important factors that
could cause actual outcomes or results to differ materially from those
indicated in these statements. In France, please also refer to the "Risk
Factors" section of the Company's Annual 2019 Report and the Company's Half
Year 2020 Report available on BIOPHYTIS website (www.biophytis.com). We
undertake no obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future developments or
otherwise, except as required by law.

Biophytis Contact for Investor Relations
Evelyne Nguyen, CFO
evelyne.nguyen@biophytis.com

Media contact
Life Sci Advisors
Sophie Baumont/Chris Maggos/John Hodgson
E: sophie@lifesciadvisors.com
T: +33 6 27 74 74 49

Investor Relations
LifeSci Advisors, LLC
Sandya von der Weid
E: svonderweid@lifesciadvisors.com
T: +41 78 680 05 38

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BIOPHYTIS (EPA:ALBPS) - Judgment of the Paris Commercial Court of March 16, 2021 in the case of Biophytis against Negma Group Ltd

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