Abivax

• Abivax, a French late-stage biotechnology company focused on developing therapeutics for patients with chronic inflammatory diseases, successfully raised USD 650 million in equity financing, which was increased to USD 748 million after the underwriters’ option of an additional 15% was exercised in full
• A total of 11,679,400 American Depositary Shares were issued at a price of USD 64.00 per share, representing a premium of 21.0% vis-à-vis the VWAP over the last three trading sessions preceding the pricing of the offering
•  The raise follows the announcement of positive Phase 3 induction data for Abivax’ lead asset obefazimod (oral miR-124 enhancer), with Phase 3 maintenance data expected in the second quarter of 2026 and subsequent NDA submission, assuming positive results
• Abivax intends to use the net proceeds of this offering to fund its late-stage clinical programmes in both ulcerative colitis and Crohn’s disease, with the remainder allocated to working capital and for other general corporate purposes, including preparation of commercialisation, additional research and development and financing expenses. The transaction extends Abivax’s cash runway into the fourth quarter of 2027
• Abivax’s capital increase represents the most sizeable ECM transaction across European and US exchanges in the biotech sector in 2025 YTD 
• Van Lanschot Kempen acted as Co-Manager and the only European Bank in a US-dominated banking syndicate and is proud to have continuously supported Abivax in recent years

Abivax is a late-stage clinical biotech company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilise the immune response in patients with chronic inflammatory diseases. The company’s lead asset, obefazimod, is an oral miR-124 enhancer, and is currently being evaluated in Phase 3 study (ABTECT) in ulcerative colitis, with maintenance data to be expected in the second quarter of 2026. Abivax is headquartered in Paris, France, and is listed on Euronext Paris (ABVX) and US Nasdaq (ABVX).

In the last twelve months, Van Lanschot Kempen has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

• Joint Bookrunner in the USD 201 million capital increase by Pharvaris
• Lead Manager in the USD 345 million capital increase by Merus
• Co-Placement Agent in DBV Technologies’ up to USD 307 million financing
• Placement Agent in MaaT Pharma’s €13 million capital increase
• Sole Financial Adviser in Pharming’s SEK 725 million public takeover of Abliva
• Sole Financial Adviser in GENFIT’s royalty financing up to €185 million
• Sole Financial Adviser in IO Biotech’s c. €58 million loan facility from the European Investment Bank
• Financial Adviser in the USD 479 million US Public Offering by NewAmsterdam Pharma
• Sole Financial Adviser to SNIPR Biome in securing a €20 million venture debt facility from the European Investment Bank