BIOPHYTIS: Half-Year Financial Report as of June 30, 2017

PARIS, Oct. 26, 2017 (GLOBE NEWSWIRE) -- BIOPHYTIS (Euronext Growth Paris:ALBPS), a biotechnology company specializing in the development of drug candidates to treat age-related diseases, presents its financial results for the first half of 2017.

Stanislas Veillet, CEO of BIOPHYTIS, said: "The significant strengthening of our shareholder structure, in particular thanks to the support of leading American and European investors, provides BIOPHYTIS with the means to finance the clinical development programs of its two main drug candidates in age-related diseases."

H1 2017 Financial Results

Operating income amounted to €(4,159) K as of June 30, 2017 compared to €(3,711) K as of June 30, 2016. This change is mainly due to:

• An increase in study and research expenses of €858 K compared to the first half of 2016, mainly due to the SARA clinical program (end of SARA-PK study and launch of SARA-OBS), and the acceleration of non-clinical studies of the MACA program.
• A decrease in staff costs of €339 K compared to the first half of 2016, in connection with the decline in the impact of share-based payments.

The financial result amounts to €(855) K as of June 30, 2017 compared to €(9) K as of June 30, 2016. This change is linked to the financing in the form of ORNANEBSA set up in April 2017.

The Company's available cash position increased from €3,164 K at December 31, 2016 to €4,472 K on June 30, 2017. This improvement was allowed following the completion of a €3.7 million private placement in April 2017, then the issuance of a €3.0 million tranche of ORNANEBSA in May 2017, corresponding to the first tranche of a financing line of up to €15 million which was set up with Bracknor Fund in the form of 1,500 warrants redeemable in cash or in new or existing shares, with a nominal value of €10,000 each, combined with Share Subscription Warrants (ORNANEBSA).

Post-closing highlights

Since June 30, 2017, the Company has significantly strengthened its cash position through:

• The issuance in July of a second tranche of 300 ORNANEBSAs, with a total nominal value of € 3.0 million, combined with the issuance of 205,959 BSA. The 300 warrants were fully converted into new shares.
• The completion, in October, of a private placement of €10.4 million, by issuing new ordinary shares without shareholders’ preferential subscription rights and reserved to institutional investors in Europe and the United States.

About BIOPHYTIS:
BIOPHYTIS SA (www.biophytis.com), founded in 2006, develops drug candidates targeting diseases of aging. Using its technology and know-how, BIOPHYTIS has begun clinical development of innovative therapeutics to restore the muscular and visual functions in diseases with significant unmet medical needs. Specifically, the company is advancing two lead products into mid-stage clinical testing this year: Sarconeos (BIO101) to treat sarcopenic obesity and Macuneos (BIO201) to treat dry age-related macular degeneration (AMD).
The business model of BIOPHYTIS is to ensure the conduct of the project until clinical activity in the patient is proven, then to license the technologies in order to continue the development in partnership with a pharmaceutical laboratory.
The company was founded in partnership with researchers at the UPMC (Pierre and Marie Curie University) and also collaborates with scientists at the Institute of Myology, and the Vision Institute.

BIOPHYTIS is listed on the Euronext Growth market of Euronext Paris
(ALBPS; ISIN: FR0012816825).

For more information: http://www.biophytis.com

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BIOPHYTIS is eligible for the SMEs scheme

Disclaimer
This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Listing Prospectus upon the admission of Company’s shares for trading on the regulated market Euronext Growth of Euronext Paris filed with the AMF, which is available on the AMF website (www.amf-france.org) or on BIOPHYTIS’ website (www.biophytis.com).

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in BIOPHYTIS in any country. Items in this press release may contain forward-looking statements involving risks and uncertainties. The Company’s actual results could differ substantially from those anticipated in these statements owing to various risk factors which are described in the Company’s prospectus. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall prevail.