Abivax SA (Euronext Paris: FR0012333284 – ABVX), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases, has announced the pricing of its initial public offering on the Nasdaq Global Market by way of a capital increase of 20,325,500 new ordinary shares, consisting of a public offering of 18,699,460 ordinary shares in the form of American Depositary Shares, each representing the right to receive one ordinary share, in the United States and a concurrent offering of 1,626,040 ordinary shares in certain jurisdictions outside of the United States to certain investors (the European Private Placement and together with the US Offering, the Global Offering).

The offering price was set at US$11.60 per ADS in the US Offering and a corresponding offering price of €10.9864 per ordinary share based on an exchange rate of €1.00 = $1.0559 as published by the European Central Bank on October 19, 2023. The aggregate gross proceeds are expected to be approximately US$235.8 million, equivalent to approximately €223.3 million, before deduction of underwriting commissions and estimated expenses payable by the Company. The Global Offering is expected to close on October 24, 2023, subject to the satisfaction of customary closing conditions.

Latham & Watkins advised the underwriters in the offering, with a capital markets team led by New York partners Nathan Ajiashvili and Alison Haggerty, with associates Sandy Kugbei, Katie Byun, and Nicholas Alston.