Biophytis Completes €2.0 Million Capital Increase

Biophytis SA has announced the completion of a capital increase worth €2,015,000, issuing new shares and warrants without preferential subscription rights. Key investors include Alumni Capital and Hexagon Capital Fund. This capital will facilitate the repayment of €1,025,000 in convertible debt to Atlas Capital and assist in clinical development for sarcopenia and obesity.

The funds will also support Biophytis’ joint venture in Hong Kong, the expansion of their AI drug platform, and cover operational expenses, extending their cash flow by six months. CEO Stanislas Veillet sees this move as pivotal in enhancing the company's financial structure and preparing for a phase 3 clinical trial in sarcopenia.

Shares from the capital increase will be admitted for trading on Euronext Growth. Biophytis has entered standstill and lock-up agreements to mitigate share dilution risks for existing shareholders.