ABIVAX Secures an Equity Line Financing with Kepler Cheuvreux

Regulatory News:

ABIVAX (Paris:ABVX) (Euronext Paris: FR0012333284 – ABVX), an innovative biotechnology company targeting the immune system to eliminate viral diseases using its unique technology platform, today announced the implementation of an equity line financing facility with Kepler Cheuvreux.

The Company’s Chief Executive Officer, acting pursuant to the powers delegated to him by the Board of Directors held on September 18, 2017 and in accordance with the resolutions of the General Assembly Meeting of the shareholders held on June 24, 2016¹, decided to enter into this equity line financing.

Didier Blondel, Chief Financial Officer, stated: « While the Company is aiming at accelerating its R & D efforts, based on excellent recent clinical data with ABX464, this financing facility provides greater visibility to ABIVAX on its mid-term financing plans. The Board of Directors was unanimously convinced by the flexible approach proposed by Kepler Cheuvreux, allowing to appropriately size the use of this line according to our real needs, and thus to contribute to the optimal financing of the Company. Based on the assessment of planned R&D needs, ABIVAX is now fully funded through Q2 2019”.

Pursuant to the terms of the agreement, Kepler Cheuvreux, acting as financial intermediary and underwriter for the transaction, gave a full and firm commitment to subscribe for 970,000 shares at its own initiative over a timeframe not exceeding 24 months. The shares will be issued based on the volume-weighted average price of the two trading days preceding each issuance, minus a maximum discount of 7.0%.

Assuming the equity line facility were to be used in full², it would enable the Company to raise €12 million in financing based on the current share price³. Subject to the contractual conditions being fulfilled, a shareholder owning 1.00% of ABIVAX’ share capital prior to the transaction would see a reduction in his/her shares to 0.91%⁴. ABIVAX retains the option of suspending or terminating this agreement at any time.

The number of shares issued pursuant to this agreement and admitted to trading will be announced in Euronext Notices and on ABIVAX’ website.

About ABIVAX (www.abivax.com)

ABIVAX is an innovative biotechnology company focused on targeting the immune system to eliminate viral disease. ABIVAX leverages three technology platforms for drug discovery: an anti-viral, an immune enhancement, and a polyclonal antibody platform. ABX464, its most advanced compound, is currently in Phase 2 clinical trials for providing a sustained viral remission or functional cure for patients with HIV/AIDS. It is a first-in-class oral small anti-viral molecule which blocks HIV replication through a unique mechanism of action and also has a strong anti-inflammatory effect. In addition, ABIVAX is advancing a clinical stage immune enhancer as well as multiple preclinical candidates against additional viral targets (e.g. Respiratory Syncytial Virus (RSV), Influenza and Dengue), and several of these compounds are planned to enter clinical development within the next 18 months. ABIVAX is listed on Euronext compartment B (ISIN: FR0012333284 – Mnémo: ABVX). More information on the company is available at www.abivax.com.

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¹ Capital increase without preferred subscription right through a private placement within the limit of 20% of the outstanding share capital per year in compliance with article L. 225-136 (1° and 3°) of the French commercial code.
² In which case 970 000 new shares would be issued.
³ On the indicative basis of the average price of ABIVAX share during the last twenty trading days.
⁴ On the basis of 9 741 489 shares composing the share capital of ABIVAX as of July 31, 2017.

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