(CercleFinance.com) – Biophytis jumped on the stock market Thursday morning following the announcement of two agreements which will allow the biotechnology company to strengthen its cash flow.
The stock jumped more than 42% in the first trades, marking the strongest progression on the Parisian market in volumes so sustained that it had to be reserved for the rise.
This surge comes as the biotech indicated this morning that it had granted the Brazilian pharmaceutical laboratory Blanver exclusive rights for Latin America to BIO101, its main drug candidate.
The agreement states that Blanver will be responsible for the registration, marketing and commercialization of its small molecule under development.
It includes its indications in obesity, respiratory infections due
to Covid-19, sarcopenia and Duchenne Muscular Dystrophy (DMD), once Biophytis has successfully completed clinical studies.
The partnership includes, but is not limited to, Brazil, Mexico, Argentina and Colombia.
In its press release, Biophytis highlights that Brazil is currently the fastest growing pharmaceutical market, representing more than
23 billion dollars in 2023.
In Latin America, today there are 100 million patients who suffer from obesity.
Under the terms of this partnership, Biophytis may receive up to €108 million including an initial payment and subsequent additional payments if certain objectives are achieved.
The company will also be eligible for double-digit royalties on net sales of BIO101 if future marketing authorizations are obtained.
Biophytis also announced that it had extended its contract with Atlas to secure financing for its activities.
This two-year amendment, due to expire in June 2026, will allow Biophytis to issue convertible bonds for a maximum amount of 16 million euros, in the form of tranches of two million each.
This financing line could extend the Company’s cash horizon, currently estimated at the end of August 2024, until the end of 2024 and contribute to the financing of programs in 2025.
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