- Submission of the US marketing authorization application for ADV7103 planned in Q4 2025, following positive feedback from the FDA on the additional data submitted.
- Repayment of tranches 1 and 2 of the EIB (European Investment Bank) structured loan deferred by two years, and repayment of PGEs deferred from October 2026
- Capital increase with pre-emptive subscription rights ("PSR") for an initial amount of €2.6 million, which may be increased to €2.875 million if the Extension Clause is fully exercised.
- Subscription price: €1.35 per share, i.e. a 17.7% discount to the closing share price on June 27, 2025, and a discount of 15.7% to the theoretical value of the share ex-rights
- Subscription ratio: 2 new shares per 13 existing shares
- Subscription commitments and guarantee of €2.5 million, representing 99.6% of the capital increase, including Bpifrance and Mr. Didier Laurens, CEO of Advicenne.
- Extension of the Company's financial horizon to the 3rd quarter of 2026 in the event of completion of the initial capital increase (excluding the extension clause), enabling it to achieve several milestones that will create commercial and clinical value.
Webinar in French on July 9, 2025 at 6:00 pm CEST.
To participate, please register by clicking on this link
Regulatory News:
This press release must not be distributed directly or indirectly in the United States, Canada, Australia, or Japan.
Advicenne (Euronext Growth FR0013296746 ALDVI), a pharmaceutical company specializing in the development and marketing of innovative treatments for people suffering from rare kidney diseases (the "Company"), confirms the forthcoming filing of Sibnayal/ADV7103 in the USA, and secures its financing through a binding global debt agreement and the launch of a capital increase through the issuance of new ordinary shares (the "New Shares") with shareholders' preferential subscription rights ("PSR"), for an initial amount of €2.6 million (the "Capital Increase"), which may be increased to €2.9 million in the event of the fully exercise of the extension clause representing 15% of the initial amount of the Capital Increase (the "Extension Clause
Recent advances and the Company's outlook
US NDA filing planned in Q4 2025
Following the agreement from the US FDA to proceed directly to ADV7103 application in dRTA using the clinical data generated in Europe, Advicenne recently submitted additional data required by the regulatory administration. FDA confirmed the admissibility of these data, clearing the path to the filing of the registration dossier, planned in Q4 2025, making possible an approval at the end of Q3 2026. Advicenne has also continually discussed the development plan of ADV7103 with FDA in cystinuria leading to an agreed biological surrogate marker as primary endpoint, marking a major step forward. Advicenne is now working on a clinical development plan in agreement with the FDA, with a view to be granted an Investigational New Drug (IND) in cystinuria in H1 2026. It should be noted that regular interactions with the FDA and European data have enabled the granting of orphan drug designation for both indications, dRTA and cystinuria.
Commercial Development in Europe
Advicenne continues its development in Europe primarily through the commercialization of Sibnayal. In 2024, Sibnayal achieved in-market sales of €6,0 million in Europe, up 130% compared to the previous year. France and Germany are the main drivers of Sibnayal's growth, but several countries, particularly in Eastern Europe, have also delivered strong performances. In total, nearly 500 patients with dRTA -mainly pediatric- are currently being treated with Sibnayal in Europe. Since the beginning of 2025, sales have been steadily growing, gaining around 10 new patients per month. However, it should be noted that reimbursement conditions remain challenging in Europe, which at this stage limits the rapid adoption of Sibnayal
Loans restructuring agreement
To secure its financing situation and confidently discuss either with FDA or potential US partner, Advicenne has been engaged for several months in comprehensive discussions with its lenders in order to restructuring its loans, particularly the one from the European Investment Bank (EIB). Advicenne has obtained binding agreements from all its lenders on a global restructuring of its loans with both the EIB and the PGE lenders.
For the €12.5 million non-dilutive EIB loan, in two tranches of respectively €7.5 million (tranche 1), €5 million (tranche 2), Advicenne and the EIB agreed on the deferral of repayments for the two tranches to the following dates: €10.5 million (including capitalized interest) on June 24, 2027, for Tranche 1, drawn in August 2020; and €6.3 million (including capitalized interest) on December 22, 2029, at the latest for Tranche 2, drawn in December 2022. As a reminder, the tranche 1 repayment was planned on June 24, 2025, for which Advicenne has been granted a standstill until July 31, expected date of final agreement signing.
As part of these overall agreements, the Company has also obtained a commitment for a two-year deferral of the repayment of the state-guaranteed loans (PGE) with a remaining total amount of €2,4 million, which will now be due from October 2026 and amortized until October 2028.
The signing of the final agreement is expected to take place no later than July 31, 2025, and will be the subject of a specific press release.
Outlook
The priority for Advicenne's team is to finalize the registration dossier for ADV7103 in dRTA in the U.S. and to submit it during Q4 2025, with a view to obtaining approval by the end of Q3 2026. During this period, Advicenne will also complete the development plan for ADV7103 in cystinuria. In Europe, the objective is to accelerate the adoption and sales growth of Sibnayal, working in parallel for the enhancement of its reimbursement, especially in France.
A Capital Increase to secure the US ambitions
This Capital Increase is part of the financing of Advicenne's growth, particularly in the U.S. The funds will be allocated as follows:
- around 70% for the completion of ADV7103's regulatory activities in dRTA in the U.S and its clinical development plan in cystinuria, and the conclusion of an industrial and commercial partnership;
- around 30% for the continued marketing activities of Sibnayal in Europe and the financing requirements of the Company's ongoing operations.
This Capital Increase will ensure the financing of Advicenne's anticipated cash requirements at least until the 3rd quarter of 2026 if the Capital Increase is completed at 100%. This extended financial visibility considers the restructuring agreement for the loan granted by the European Investment Bank, announced today.
As of the date of this press release, the financial resources available to date covered the Company's needs until June 2025.
Didier Laurens, Chief Executive Officer of Advicenne, said "First of all, I am delighted to have concluded the restructuring of our bank debt with the support of our creditors and our shareholder, Bpifrance. I would like to sincerely thank them for their efforts in supporting our strategic development, particularly in the U.S, where Advicenne has achieved another important step forward with the upcoming filing of ADV7103 in dRTA. The restructuring of our debt, combined with the limited capital increase announced today, allows us to significantly extend our cash runway. This extension will enable us to finalize the submission of the Marketing Authorization Application for ADV7103 in dRTA, as well as the application for clinical trials in cystinuria in the U.S. It also gives us the necessary time to confidently negotiate an agreement across the Atlantic for ADV7103 in both indications under optimized conditions. My confidence in Advicenne's prospects is reflected in my support for the capital increase we are launching."
Main terms and conditions of the Capital Increase
Share capital prior to the Capital Increase
At the date of launch of the Capital Increase, Advicenne's share capital comprised 12.323.671 fully subscribed and paid-up shares with a par value of €0.20 each, listed on the Euronext Growth market in Paris.
Shares details
Name: ADVICENNE
ISIN code: FR0013296746
Symbol: ALDVI
Stock market: Euronext Growth in Paris
Legal framework of the Capital Increase
Making use of the authorization granted by the 11th and 17th resolutions of the Combined General Meeting of May 15, 2025, Advicenne's Board of Directors decided on June 27, 2025, to implement the delegation of authority granted to it, decided to launch a capital increase with pre-emptive subscription rights and delegated full powers to the Chief Executive Officer to carry it out.
Nature of Offering and number of New Shares
Advicenne is launching a capital increase with shareholders' preferential subscription rights ("PSR"), on the basis of 2 New Shares for 13 existing shares with a par value of €0.20 each.
Extension clause
Depending on the level of demand, Advicenne reserves the right to exercise the extension clause, up to a maximum of 15% of the initial issue amount, i.e. additional issue proceeds of €383,929.20, bringing the total amount of the Capital Increase to €2,943,459.00, in order to serve all or part of the reducible subscription orders. Thus, the initial number of 1,895,948 New Shares could be increased by an additional 284,392 New Shares, bringing the total number of New Shares to be issued to a maximum of 2,180,340 New Shares.
Characteristics of the New Shares
The New Shares will carry dividend rights and will be assimilated to the Company's existing shares.
Application will be made for the New Shares to be admitted to trading on Euronext Growth in Paris. Their admission is scheduled for July 24, 2025, on the same quotation line as the existing shares (ISIN code FR0013296746).
Subscription period
The subscription period begins on July 4, 2025 and ends on July 17, 2025.
Subscription price of the New Shares
€1.35 per new share (including a par value of €0.20 and a share premium of €1.15), representing a 17.7% discount to Advicenne's closing share price on June 27, 2025 (€1.64), and a 15.7% discount to the theoretical value of the share ex-rights (€1.60, taking into account the theoretical value of the PSR which amounts to €0.0387).
Gross amount of the capital increase
The total gross amount of the issue is €2,559,529.80, corresponding to the number of New Shares issued, i.e. 1,895,948 New Shares, multiplied by the subscription price of one New Share (€1.35). This amount could be increased to €2,943,459.00 if the Extension Clause is exercised in full.
Net amount of the Capital Increase
Assuming a 100% subscription to the Capital Increase (i.e. an amount of €2.6 million), the total net amount of the Capital Increase (corresponding to the gross amount less all financial, legal and communication costs relating to the Capital Increase) would amount to approximately €2.2 million.
Subscription commitments
The FPS Innovation 1 fund, managed by Bpifrance Investissement, which also manages the Innobio fund, the Company's reference shareholder, has undertaken to subscribe to the Capital Increase for €1,000,000, i.e. 39.1% of the initial amount of the Capital Increase.1
Didier Laurens, CEO of Advicenne, has irrevocably undertaken to subscribe to the Capital Increase on a personal basis for a total amount of €50,000, i.e. 2.0% of the initial amount of the Capital Increase.
The Company is not aware of the intentions of its other shareholders.
The issue is not covered by a performance guarantee within the meaning of Article L. 225-145 of the French Commercial Code.
Nevertheless, under the terms of underwriting commitments, 6 investors have undertaken to subscribe to the Capital Increase for a total amount of €1,500,000, i.e. 58.6% of the initial amount of the Capital Increase. These underwriting commitments will be triggered in the event that the total subscription amount for the New Shares represents less than 100% of the Offering (excluding the exercise of the Extension Clause).
All guarantors will be remunerated by a commission equal to 10% of the amount of their guarantee subscription commitment. In the event of partial exercise of these underwriting commitments, any New Shares not absorbed by irreducible, reducible and free subscriptions will be distributed and allocated to the underwriters in proportion to their initial commitment and up to a limit of 100% of the Offering. It should be noted that any shares allocated under these underwriting commitments are not subject to a lock-up commitment.
_________________________________ |
1 Assuming that the Capital Increase is completed at 100% and that FPS Innovation 1's subscription commitment is honored in full, the percentage held by all the funds managed by BPI France would represent 23% of the share capital and 28% of the voting rights. |
In total, the subscription commitments and guarantee subscription commitments described above represent a total amount of €2,550,000, i.e. 99.6% of the amount of the Capital Increase, allocated as follows:
Investor's Name | Subscription Order Amount |
Management | |
Didier Laurens, CEO | €50,000 |
Reference Shareholders | |
FPS Innovation 1 | €1,000,000 |
Guarantees | |
Friedland Gestion | €200,000 |
Gestys | €200,000 |
Hamilton Stuart Capital | €150,000 |
Market Wizards | €500,000 |
Maitice | €100,000 |
Treecap BV | €350,000 |
Sub Total Guarantors | €1,500,000 |
Total | €2,550,000 |
Preferential subscription rights on an irreducible and reducible basis
Subscription for the New Shares will be reserved, by preference, for (i) holders of existing shares registered in their securities account at the close of business on July 1, 2025, who will be allocated one preferential subscription right per existing share held on July 2, 2025, and (ii) transferees of the preferential subscription rights.
Holders of preferential subscription rights will be able to subscribe:
- by irrevocable entitlement, on the basis of 2 New Shares for every 13 existing shares held, so that 13 preferential subscription rights will entitle holders to subscribe to 2 New Shares at a price of €1.35 per New Share;
- on a reducible basis, the number of New Shares they would like in addition to that to which they would be entitled by exercising their irreducible preferential subscription rights.
The PSRs may only be exercised up to the number of PSRs required to subscribe for a whole number of New Shares. Holders of preferential subscription rights who do not hold a sufficient number of existing shares to subscribe for a whole number of New Shares by irrevocable entitlement will be required to purchase the number of preferential subscription rights required to subscribe for a whole number of New Shares on the Euronext Growth market in Paris.
Fractional PSRs may be sold on the Euronext Growth market in Paris during the PSRs listing period.
Only the New Shares that may not have been subscribed for by irrevocable entitlement will be allocated among the reducible entitlement subscribers, within the limit of their requests and in proportion to the number of existing shares whose preferential subscription rights will have been used to support their irrevocable entitlement subscriptions.
In the event that the same subscriber submits several separate subscriptions, the number of shares to which he or she is entitled on a reducible basis will be calculated on the basis of all his or her subscription rights only if he or she expressly makes a special request to this effect in writing, no later than the closing date for subscriptions. This special request must be attached to one of the subscriptions and must give all the information required for the aggregation of rights, specifying the number of subscriptions made and the authorized institution(s) or intermediary(ies) with which these subscriptions have been deposited.
Subscriptions in the name of separate subscribers may not be grouped together to obtain New Shares on a reducible basis.
A notice published by Euronext will make known, where applicable, the allocation scale for subscriptions subject to reduction (on a reducible basis).
Amounts paid for subscriptions subject to reduction (on a reducible basis) and remaining available after the allocation will be reimbursed without interest to subscribers by the authorized intermediaries who have received them.
For information purposes, the Company held 52,613 of its own shares at June 27, 2025. The preferential subscription rights detached from the Company's treasury shares at July 1, 2025 will be sold on the market before the end of the subscription period, in accordance with Article L. 225-210 of the French Commercial Code.
Exercise of preferential subscription rights
To exercise their preferential subscription rights, shareholders must submit a request to their authorized financial intermediary at any time between July 4, 2025 and July 17, 2025, inclusive, and pay the corresponding subscription price. Subscriptions that have not been paid up in full will be cancelled ipso jure, without the need for formal notice. Unexercised preferential subscription rights will automatically lapse at the end of the subscription period, i.e. at the close of trading on July 17, 2025.
Listing of preferential subscription rights ("PSR")
At the close of trading on July 1, 2025, 1 preferential subscription right ("PSR") will be recorded in the securities account of Advicenne shares for each share held (i.e. a total of 12,323,671 PSRs issued). Each shareholder holding 13 PSRs (and multiples thereof) will be entitled to subscribe to 2 New Shares (and multiples thereof) at a unit price of €1.35. The preferential subscription rights may be acquired or sold on the market during their listing period, between July 2, 2025 and July 15, 2025 inclusive, under ISIN code FR00140110T8. In the absence of subscription before July 17, 2025 or sale of these preferential subscription rights before July 15, 2025, they will become null and void.
Free subscription requests
In addition to the possibility of subscribing on an irreducible and reducible basis in accordance with the specified terms and conditions, any individual or legal entity, whether or not holding preferential subscription rights, may subscribe to the Capital Increase on a voluntary basis. Persons wishing to subscribe on a voluntary basis must submit their request to their authorized financial intermediary at any time during the subscription period, and pay the corresponding subscription price. In accordance with the provisions of article L.225-134 of the French Commercial Code, subscriptions made on a voluntary basis will only be taken into account if the subscriptions made on an irreducible basis and on a reducible basis have not absorbed the entire Capital Increase, it being specified that the Board of Directors (with the option of sub-delegation) will have the power to freely allocate the unsubscribed New Shares, in whole or in part, among the persons (shareholders or third parties) of its choice who have made requests for subscriptions on a voluntary basis.
Re-allocation by the Board of Directors of New Shares not subscribed by the exercise of irreducible preferential subscription rights and, where applicable, of reducible preferential subscription rights
In the event that subscriptions for New Shares do not reach the entire issue, the Board of Directors may make use, in whole or in part, of the options available to it under Article L. 225-134 of the French Commercial Code, and in the order it shall determine.
Limitation of the capital increase
Pursuant to Article L. 225-134 of the French Commercial Code, in the event that irreducible and reducible subscriptions, as well as unrestricted subscriptions, do not absorb the entire issue, the Board of Directors may limit the Capital Increase to the amount of subscriptions received, provided that this amount reaches at least 75% of the amount initially set, it being specified, however, that the Company has already received commitments to subscribe representing at least 99.6% of the amount of the Capital Increase.
Indicative timetable for the Capital Increase
June 27, 2025 | Decision by the Board of Directors to launch the Capital Increase |
June 30, 2025 (before market opening) | Press release announcing the Capital Increase |
July 1, 2025 | Accounting day at the end of which holders of existing shares recorded in their securities accounts will be allocated preferential subscription rights |
July 2, 2025 | Detachment of the PSRs Start of trading of the PSRs on Euronext Growth Paris at the start of trading |
July 4, 2025 | Opening of the subscription period Start of exercise period for stock subscription rights Suspension of the right to exercise BSPCEs issued by the Company |
July 15, 2025 (inclusive) | End of listing of the PSRs on Euronext Growth Paris |
July 17, 2025 (inclusive) | Closing of the subscription period End of the PSRs exercise period |
July 21, 2025 | Decision of the Chief Executive Officer deciding the issue of the New Shares, and, where applicable, the limitation of the Capital Increase, the reallocation of the Capital Increase or the exercise of the Clause of Extension |
July 22, 2025 (before market opening) | Publication of the press release announcing the final amount of the Capital Increase |
July 24, 2025 | Settlement-delivery of the New Shares |
Undertakings to abstain from trading and to retain shares
The Company has entered into a 6-month lock-up commitment in connection with the Capital Increase.
The FPS Innovation 1 fund et Mr Didier Laurens have also undertaken to retain all the shares they hold on the date of settlement-delivery of the New Shares for a period of 180 days from that date, subject to certain customary exceptions such as (a) transfers to any affiliated entity, or (b) contribution to a public tender or exchange offer for the Company's shares.
Impact on the distribution of share capital and voting rights
Shareholder | Capital distribution (pre-issue) | Capital distribution (post-issue at 100%) | Capital distribution (post-extension clause) | ||||||
Shares |
| Shares |
| Shares |
| ||||
Didier Laurens | 0 | 0.00% | 37,037 | 0.26% | 37,037 | 0.26% | |||
Laurent Cassedanne | 0 | 0.00% | 0 | 0.00% | 0 | 0.00% | |||
Employees, Consultants, Committee Members | 108,778 | 0.88% | 108,778 | 0.77% | 108,778 | 0.75% | |||
Subtotal Management Employees | 108,778 | 0.88% | 145,815 | 1.03% | 145,815 | 1.01% | |||
Bpifrance Investissement | 2,664,505 | 21.63% | 3,405,245 | 23.95% | 3,405,245 | 23.49% | |||
Cemag Invest | 2,217,928 | 18.00% | 2,217,928 | 15.60% | 2,217,928 | 15.30% | |||
Irdi Soridec Gestion | 435,511 | 3.54% | 435,511 | 3.06% | 435,511 | 3.00% | |||
Charlotte Sibley | 0 | 0.00% | 0 | 0.00% | 0 | 0.00% | |||
Subtotal Board | 5,317,944 | 43.17% | 6,058,684 | 42.62% | 6,058,684 | 41.79% | |||
Treasury shares | 52,613 | 0.43% | 52,613 | 0.37% | 52,613 | 0.36% | |||
Free float | 6,839,935 | 55.52% | 7,958,106 | 55.98% | 8,242,498 | 57.98% | |||
Total | 12,319,270 | 100.00% | 14,215,218 | 100.00% | 14,499,610 | 101.14% | |||
Shareholder | Voting rights distribution (pre-issue) | Voting rights (post-issue at 100%) | Voting rights (post-extension clause) | ||||||
Voting rights |
| Voting rights |
| Voting rights |
| ||||
Didier Laurens | 0 | 0.00% | 37,037 | 0.22% | 37,037 | 0.22% | |||
Laurent Cassedanne | 0 | 0.00% | 0 | 0.00% | 0 | 0.00% | |||
Employees, Consultants, Committee Members | 217,556 | 1.45% | 217,556 | 1.29% | 217,556 | 1.29% | |||
Subtotal Management Employees | 217,556 | 1.45% | 254,593 | 1.51% | 254,593 | 1.51% | |||
Bpifrance Investissement | 3,990,073 | 26.65% | 4,730,813 | 28.05% | 4,730,813 | 28.05% | |||
Cemag Invest | 2,983,574 | 19.93% | 2,983,574 | 17.69% | 2,983,574 | 17.69% | |||
Irdi Soridec Gestion | 435,511 | 2.91% | 435,511 | 2.58% | 435,511 | 2.58% | |||
Charlotte Sibley | 0 | 0.00% | 0 | 0.00% | 0 | 0.00% | |||
Subtotal Board | 7,409,158 | 49.49% | 8,149,898 | 48.32% | 8,149,898 | 48.32% | |||
Treasury shares | 0 | 0.00% | 0 | 0.00% | 0 | 0.00% | |||
Free float | 7,343,315 | 49.05% | 8,461,486 | 50.17% | 8,745,878 | 51.86% | |||
Total | 14,970,029 | 100.00% | 16,865,977 | 100.00% | 17,150,369 | 101.68% | |||
Impact of the issue on shareholders' equity per share
For information purposes, the impact of the Capital Increase on consolidated shareholders' equity per share (calculated on the basis of consolidated shareholders' equity at December, 31, 2024, and the number of shares comprising the Company's share capital at June, 30, 2025) would be as follows:
Equity per share (in €) | Undiluted basis | Diluted basis |
Before issuance of the New Shares via the Offering | -€1.55 | -€1.44 |
After issuance of 1,895,948 New Shares via the Offering (completion of the capital increase to 100%) | -€1.16 | -€1.09 |
After issuance of 2,180,340 New Shares (realization of the capital increase to 115% in the event of exercise of the extension clause) | -€1.11 | -€1.05 |
* if all BSPCEs are exercised, representing a total number of shares of 922,125.
Impact of the issue on the shareholder's situation (for non-subscribing shareholders)
For information purposes, the impact of the Capital Increase on the shareholding of a shareholder holding 1.00% of the Company's share capital prior to the Capital Increase and not subscribing to it (calculated on the basis of the number of shares making up the Company's share capital at June 30, 2025) would be as follows:
Shareholder interest (%) | Undiluted basis | Diluted basis |
Before issuance of the New Shares via the Offering | 1.00 | 0.93% |
After issuance of 1,895,948 New Shares via the Offering (completion of the capital increase to 100%) | 0.87% | 0.81% |
After issuance of 2,180,340 New Shares (realization of the capital increase to 115% in the event of exercise of the extension clause) | 1,00 | 0.93% |
* if all BSPCEs are exercised, representing a total number of shares of 922,125.
Suspension of the right to exercise the Company's BSPCE warrants
Holders of BSPCE warrants allocated by the Company have been informed of the suspension of their right to the allocation of new shares in the Company with effect from July 4, 2025 (0:01 a.m., Paris time) by registered letter with acknowledgement of receipt, for a maximum period of three months, unless the period is shortened. The rights of holders of business creator share warrants allocated or issued by the Company who have not exercised their right to receive shares in the Company before this date will be preserved in accordance with legal and regulatory provisions.
Subscription terms
You have PSRs attached to your Advicenne shares, which allow you to subscribe in priority to the New Shares by applying the ratio 2 New Shares for 13 PSRs (1 old share giving right to 1 PSR).
- Either you have an exact and sufficient number of old shares to be able to subscribe via your PSRs to a whole number of New Shares.
- Or you do not hold a sufficient number of existing shares to obtain a whole number of New Shares: you may then buy or sell the number of PSRs needed to reach the ratio leading to a whole number of new shares (2 New Shares for 13 PSRs).
In addition to the subscriptions made by means of your existing preferential subscription rights, you may also subscribe on a voluntary basis before July 17, 2025, inclusive (your subscription will only be considered if the transaction has not already been fully subscribed by the holders of preferential subscription rights).
Each subscription must be accompanied by payment of the subscription price.
Paying agents Subscription payments
Subscriptions for the New Shares and payments of funds by subscribers whose shares are held in bearer or administered registered form, or by their authorized agent acting in their name and on their behalf, will be received until July 17, 2025, inclusive by the authorized financial intermediaries.
Subscriptions and payments by subscribers whose shares are held in a pure registered account will be received free of charge until July 17, 2025, inclusive by Uptevia Les Grands Moulins de Pantin 9, rue du Débarcadère 93500 Pantin.
Each subscription must be accompanied by payment of the subscription price in cash.
Funds paid in support of subscriptions will be centralized by Uptevia Les Grands Moulins de Pantin 9, rue du Débarcadère 93500 Pantin, which will be responsible for drawing up the certificate of deposit of funds recording the completion of the capital increase and the issue of the New Shares.
Subscriptions for which payments have not been made will be cancelled ipso jure, without the need for formal notice.
Prospectus
In accordance with the provisions of Article L.411-2-1 1° of the French Monetary and Financial Code and Article 211-2 of the General Regulations of the Autorité des Marchés Financiers (the "AMF"), the Capital Increase will not give rise to a prospectus subject to approval by the AMF, as the total amount of the offering calculated over a twelve-month period does not exceed €8,000,000.
Risk factors
Risk factors relating to the Company and its 2024 universal registration document, available in the Investor Relations section of its website (https://advicenne.com/). The occurrence of any or all these risks could have an adverse effect on the Company's business, financial situation, results, development or prospects.
In addition, investors are invited to consider the following risks specific to the Capital Increase:
- the preferential subscription rights market could offer only limited liquidity and be subject to high volatility;
- shareholders who do not exercise their preferential subscription rights will see their stake in the Company's capital diluted;
- the market price of the shares could fluctuate and fall below the subscription price of the shares issued as part of the Capital Increase;
- in the event of a fall in the market price of the Company's shares, preferential subscription rights could lose their value;
- the volatility and liquidity of the Company's shares could fluctuate significantly;
- sales of the Company's shares could occur on the market and adversely affect the Company's share price;
- the Company's shareholders could suffer potentially significant dilution because of any future capital increases.
Eligible for PEA PEA-PME schemes and for reinvestment as part of a transfer of assets (scheme 150-O B ter of the French General Tax Code).
Advicenne shares can be fully integrated into stock savings plans (PEA) and PEA-PME accounts, which benefit from the same tax advantages as the classic PEA.
The Company is also eligible for the 150-O B ter scheme of the French General Tax Code, which enables persons who have sold the contributed shares within three years of the contribution to benefit from the continued deferral of taxation in the event of a cash subscription.
The persons concerned are invited to seek advice from their usual tax advisor on the tax treatment applicable to their particular case, particularly in respect of the subscription, acquisition, holding and disposal of Advicenne shares.
All information and documentation relating to the Capital Increase can be found at https://advicenne.com/fr/login-augmentation-de-capital/
Capital Increase Partners
TP ICAP
Global Coordinator,
Lead Manager and Bookrunner
Bird Bird
Legal advice
About Advicenne
Advicenne (Euronext: ALDVI) is a specialty pharmaceutical company founded in 2007, specializing in the development of innovative treatments in Nephrology. Its lead product Sibnayal (ADV7103) has received its Marketing Approval for distal renal tubular acidosis in EU and GB. ADV7103 is currently in late-stage development in cystinuria in Europe and in dRTA and cystinuria in the US and in Canada. Headquartered in Paris, Advicenne, listed on the Euronext Paris stock exchange since 2017, has now been listed on Euronext Growth Paris since its transfer on March 30, 2022.
For additional information, see: https://advicenne.com/.
Forward-looking statements
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, product development and potential, and statements regarding future performance. Forward-looking statements are often identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Advicenne's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond Advicenne's control, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include in particular those inherent in the marketing and commercialization of drugs developed by Advicenne as well as those developed or identified in the public documents filed by Advicenne with the Autorité des marchés financiers, including those listed in chapter 3 "Risk Factors" of Advicenne's universal registration document filed with the Autorité des marchés financiers on April 28, 2023 and in the 2023 half-year report, available free of charge on the website of the Company ((https://advicenne.com/). Subject to applicable regulations, in particular articles 223-1 et seq. of the general regulations of the Autorité des marchés financiers, Advicenne does not undertake to update any forward-looking information or statements.
Disclaimer
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful in the absence of registration or approval under the securities laws of such state or jurisdiction.
The distribution of this press release may be subject to specific regulations in certain countries. Persons in possession of this document are required to inform themselves about and to observe any such local restrictions.
This press release constitutes a promotional communication and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (as amended the "Prospectus Regulation").
With respect to member states of the European Economic Area other than France (the "Member States"), no action has been or will be taken to permit a public offering of the securities that would require the publication of a prospectus in any of these Member States. Consequently, the securities cannot and will not be offered in any Member State (other than France), except in accordance with the exemptions provided for in Article 1(4) of the Prospectus Regulation, or in other cases not requiring the publication by Advicenne of a prospectus under the Prospectus Regulation and/or the regulations applicable in those Member States. This press release does not constitute an offer of securities to the public in the United Kingdom.
This press release may not be published, distributed or disseminated in the United States (including its territories and possessions). This press release does not constitute an offer or solicitation to buy, sell or subscribe for any securities in the United States. The securities mentioned in this press release have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or federal securities laws, and may not be offered or sold in the United States absent registration under the Securities Act, except pursuant to an applicable exemption from, or in a transaction not subject to, registration under the Securities Act. Advicenne does not intend to register the offering in whole or in part in the United States under or pursuant to the Securities Act or to conduct a public offering in the United States.
This press release may not be distributed directly or indirectly in the United States, Canada, Australia or Japan.
Lastly, this press release may be drafted in either French or English. In the event of any discrepancies between the two texts, the French version shall prevail.
This press release and the information it contains do not constitute a solicitation of an order to purchase or subscribe for securities in France or in countries other than France.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250629945450/en/
Contacts:
Advicenne
Didier Laurens, Directeur Général
+33 (0) 1 87 44 40 17
Email: investors@advicenne.com
Ulysse Communication
Media relations
Bruno Arabian
+33 (0)6 87 88 47 26
Email: advicenne@ulysse-communication.com
