Biophytis

Judgment of the Paris Court of Appeal of 17 January 2023 in the case between Biophytis and Negma Group Ltd

Biophytis / Key word(s): Miscellaneous Biophytis: Judgment of the Paris Court of Appeal of 17 January 2023 in the case between Biophytis and Negma Group Ltd 19-Jan-2023 / 00:00 CET/CEST Judgment of the Paris Court of Appeal of 17 January 2023 in the case between Biophytis and Negma Group Ltd

The Paris Court of appeal confirms the judgement of the Paris Conmmercial Court of 16th of March 2021

 

 

Paris (France), Cambridge (Massachusetts, U.S.), January 19th, 2023, 8am CET – Biophytis SA (NasdaqCM: BPTS, Euronext Growth Paris: ALBPS) (the “Company” or “Biophytis”), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, today announces that on the 17th of January 2023 the Paris Court of Appeal rendered a decision in the case between Biophytis and Negma Group Ltd on the subject of the ORNANEBSA agreement concluded on  21st August 2019.

The Paris Court of Appeal has :

- confirmed the judgment of the Paris Commercial Court of March 16, 2021 (hereinafter the "Judgment", see the press release of March 19, 2021, available on the Company's website);

- ordered Biophytis to pay Negma 75,000 euros pursuant to Article 700 of the French Code of Civil Procedure as well as costs.

Biophytis specifies that it has already performed, in 2021, the entirety of the Judgment (see press release of August 13, 2021, available on the Company's website).

The judgment of the Paris Court of Appeal of January 17, 2023 has not yet been served.

Biophytis reserves the right to appeal against it before the French Supreme Court (Cour de Cassation).

About BIOPHYTIS

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 has also been 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 ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS – ISIN: US09076G1040). For more information visit www.biophytis.com