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Judgment Rendered on July 16, 2021 in the Proceedings Between Biophytis and Negma Group Ltd by the Execution Judge From the Paris Court of JusticePARIS and CAMBRIDGE, Mass., July 19, 2021 (GLOBE NEWSWIRE) -- 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:
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:
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. About BIOPHYTIS 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 Disclaimer Biophytis Contact for Investor Relations Media contact |