Abivax announces the success of its oversubscribed capital increase
Subscribed by top-tier U.S. and European biotech investors (12 investors in total, 55% of funds raised from European investors, 45% from the U.S.)
Abivax continues on its successful path and raises 28 million euros in capital at market price with a limited dilution at 11,70%. The issue was oversubscribed by top-tier U.S. and European biotech investors, among which, Sofinnova who holds 12,26% of the share capital and Santé Holding with a 3,64% stake. Truffle Capital (including Holding Incubatrice) remains the largest shareholder with 40.61% of the share capital. This capital increase, alongside with recent non-dilutive financings of 56 million euros from Bpifrance, Kreos and Société Générale, brings Abivax’s total financing to 84 million euros. Those financial resources will allow Abivax to extend the funding of ongoing clinial studies and trials until Q4 2021. First results in the Covid-19 trial with ABX464 are especially expected in Q1 2021.