Driven by the good results of phase II of its drug candidate against ulcerative colitis, Abivax has seen its stock price jump 80% since January 1. S. Singha / stock.adobe.com
Already listed on the Paris Stock Exchange, the biotech announces its listing on Wall Street this Friday. Specializing in chronic inflammatory diseases, Abivax hopes to raise 250 million euros to finance the continuation of phase III clinical trials of its drug against ulcerative colitis.
Do all roads lead to Wall Street? After Nanobiotix in 2020, it is the turn of the French biotechnology company Abivax, listed on the Paris Stock Exchange, to announce its IPO in New York, on the prestigious Nasdaq. A specialist in chronic inflammatory diseases, the biotech hopes to raise 250 million euros through a double listing on the American Stock Exchange and a private placement in Europe.
The listing on Wall Street marks a turning point for the firm created in 2013 by Philippe Pouletty, managing director of Truffle Capital. “This is the biggest IPO in the history of a French biotech», rejoices Marc de Garidel, general director of Abivax. With the expected fundraising and the financing raised since the start of the year (280 million euros, including 130 million in February), Abivax climbs into the top 3 of the most powerful biotechs in the sector. The company’s price has jumped 80% since January 1. More than 20 million titles will be offered…
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