(AOF) – Abivax (-2.27% to 2.66 euros) announces the filing of a Form F-1 registration document with the US Securities and Exchange Commission (SEC) as part of its project IPO in the form of American Depositary Shares (ADS) representing common shares in the United States. The biotech specialist in modulating the immune response in patients suffering from chronic inflammatory diseases adds that a concomitant placement of its ordinary shares in Europe and other countries outside the United States has been completed.
Abivax specifies that the number of ordinary shares represented by each ADS, the number of ADSs and ordinary shares offered and the price range of the Global Offering “have not yet been determined”. The Global Offer is subject to market conditions and there can be no assurance as to whether or when the Global Offer will be completed.
The company announced its planned listing across the Atlantic in August 2023.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.