Judgment rendered on July 16, 2021 in the proceedings between Biophytis and
Negma Group Ltd by the Execution Judge from the Paris Court of Justice
Paris, France, and Cambridge, Massachusetts, USA - July 19, 2021, 11:00 p.m.
CET - Biophytis SA (NasdaqCM: BPTS, Euronext Growth Paris: ALBPS), ("Biophytis"
or the "Company"), a clinical-stage biotechnology company focused on the
development of therapeutics that slow the degenerative processes associated
with aging and improve functional outcomes for patients suffering from age-
related diseases, including severe respiratory failure in patients suffering
from COVID-19, announces that the judge in charge of overseeing judgements
execution has rendered on July 16, 2021 a judgement in the proceedings between
Biophytis and Negma Group Ltd. ("Negma").
Following the judgment rendered by the Paris Commercial Court on March 16, 2021
(see the press release dated March 19, 2021 available on the Company's website)
in the proceedings on the merits between Biophytis and Negma Group Ltd
("Negma") regarding the ORNANEBSA agreement entered into on August 21, 2019
(the "Judgment"), Biophytis had, as previously announced in the above-mentioned
press release of March 19, 2021:
filed a petition with the Paris Commercial Court on the ground of failure of
the Judgment to rule on certain claims made by the Company in the
- appealed the Judgment to the Paris Court of Appeal.
In addition, as regards to the execution of this Judgement, Biophytis has
served Negma Group with a petition filed with the Presiding Judge of the Paris
Court of Appeal requesting that immediate enforcement of the Judgment be stayed
or, alternatively, that it be modified. Oral argument on this matter was
scheduled for September 7, 2021.
In the meantime, on June 24, 2021, Negma served Biophytis with a petition filed
with the judge of the Paris Court of Justice charged with overseeing the
execution of judgments requesting (i) the payment of the fine for
non-performance imposed by the Judgment in connection with its order to
Biophytis to deliver 7,000,000 shares and (ii) that a final fine for
non-performance be set.
Pursuant to a judgment rendered on July 16, 2021, the judge of the Paris Court
of Justice in charge of overseeing the execution of judgments partially granted
Negma's claims and:
o quantified at EUR1,500,000 the fine for non-performance imposed by the
o ordered Biophytis to pay this sum to Negma;
o imposed a new provisional fine for non-performance of EUR50,000 per day of
delay in complying with the Judgment's order against Biophytis, as of the
tenth day from service of this judgment, for a period of 30 days;
o ordered Biophytis to pay Negma EUR8,000 pursuant to Article 700 of the Code
of Civil Procedure; and
o ordered Biophytis to pay the costs of the proceedings.
Biophytis intends to comply with the July 16, 2021 judgment and then to appeal
it and, more generally, to take all measures to safeguard its interests.
Biophytis SA is a clinical-stage biotechnology company specialized in the
development of therapeutics that are aimed at slowing the degenerative
processes associated with aging and improving functional outcomes for patients
suffering from age-related diseases, including severe respiratory failure in
patients suffering from COVID-19.
Sarconeos (BIO101), our leading drug candidate, is a small molecule,
administered orally, being developed as a treatment for sarcopenia in a Phase 2
clinical trial in the United States and Europe (SARA-INT). It is also being
studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of
severe respiratory manifestations of COVID-19 in Europe, Latin America, and the
US. A pediatric formulation of Sarconeos (BIO101) is being developed for the
treatment of Duchenne Muscular Dystrophy (DMD).
The company is based in Paris, France, and Cambridge, Massachusetts. The
company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN:
FR0012816825) and the ADS (American Depositary Shares) are listed on Nasdaq
(Ticker BPTS - ISIN : US09076G1040).
For more information visit www.biophytis.com
This press release contains forward-looking statements. Forward-looking
statements include all statements that are not historical facts. In some cases,
you can identify these forward-looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may," "will,"
"should," "could," "seeks," "predicts," "intends," "trends," "plans,"
"estimates," "anticipates" or the negative version of these words or other
comparable words. Such forward- looking statements are based on assumptions
that Biophytis considers to be reasonable. However, there can be no assurance
that the statements contained in such forward-looking statements will be
verified, which are subject to various risks and uncertainties. The
forward-looking statements contained in this press release are also subject to
risks not yet known to Biophytis or not currently considered material by
Biophytis. Accordingly, there are or will be important factors that could cause
actual outcomes or results to differ materially from those indicated in these
statements. Please also refer to the "Risks and uncertainties the Company is to
face" section from the Company's 2020 Annual Report available on BIOPHYTIS
website (www.biophytis.com) and as exposed in the "Risks Factors" section of
form 20-F as well as other forms filed with the SEC (Securities and Exchange
Commission, USA). We undertake no obligation to publicly update or review any
forward-looking statement, whether as a result of new information, future
developments or otherwise, except as required by law.
Biophytis Contact for Investor Relations
Evelyne Nguyen, CFO
Sophie Baumont/Chris Maggos/John Hodgson
T: +33 6 27 74 74 49