Biophytis announced entry into definitive agreements for a €10.4 million capital raise to fund the its clinical development in age-related diseases, such as Sarcopenia and dry age-related macular degeneration (AMD). The funding will be used to finance:
- The launch of the 26-week, multicenter, international and interventional study SARA-INT in 334 sarcopenic patients for which the IND application for FDA approval has been filed in the United States; and
- The MACA-PK multicenter, international clinical trial to evaluate the safety, pharmacokinetics and pharmacodynamics of Macuneos in patients with dry intermediate AMD
"We are pleased to announce that we successfully receive commitment for capital raise, which provides Biophytis with the means to finance the clinical development programs of its two main drug candidates in age-related diseases," Stanislas Veillet, Chairman and Chief Executive Officer of BIOPHYTIS, said in a company news release. "This raise will enable us to significantly strengthen our shareholder structure, notably thanks to the support of leading American and European investors, who have shown their confidence in the potential of our therapeutic approach."
Invest Corporate Finance acted as global coordinator for the operation. Invest Securities and H.C. Wainwright & Co. acted as exclusive placement agent for the offering in Europe and the United States, respectively.