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AB Science Triumphs in Raising Capital: A Private Placement Success Story

AB Science, a renowned pharmaceutical company, recently marked a pivotal milestone by successfully raising €15 million via private placement. This remarkable achievement demonstrates not only the company's robust financial strategy but also the confidence of its shareholders in its future prospects.

A Financial Triumph for AB Science

Following a successful private placement, AB Science has effectively raised its capital through the issuance of new ordinary shares with attached warrants. This has been achieved by waiving off preferential subscription rights, leading to a total financial influx of €15 million.

Alain Moussy, the CEO of AB Science, expressed his satisfaction over this financial milestone, stating, "This capital increase has allowed our long-standing shareholders to reaffirm their trust in AB Science and support our new strategy that was announced on April 21."

A Strategic Shift in Focus for AB Science

The successful capital increase has allowed AB Science to reorient its developmental strategy, primarily focusing its resources on the development of masitinib for the treatment of amyotrophic lateral sclerosis (ALS) and the advancement of the microtubule destabilizer agents (MDA) platform.

Masitinib: A Novel Approach to ALS

The company is focusing a majority of its clinical resources on the development of masitinib for treating rare diseases. Notably, Masitinib is a novel oral tyrosine kinase inhibitor that targets mast cells and macrophages, key immune cells, through the inhibition of a limited number of kinases.

Due to its unique mode of action, Masitinib can be developed for a broad range of diseases, including oncology, inflammatory diseases, and certain central nervous system diseases. In oncology, through its immunotherapy activity, Masitinib may improve survival, alone or in combination with chemotherapy.

AB8939: A Potential Game-Changer in Oncology

AB Science is also focusing on the development of the microtubule platform with AB8939 and future molecules of the same family due to the very encouraging preliminary results. AB8939 is a new synthetic microtubule-destabilizing drug. Preclinical data reveal that AB8939 has broad anticancer activity, with a notable advantage over standard chemotherapies that target microtubules of being able to overcome P-glycoprotein (Pgp) and myeloperoxidase (MPO) mediated drug resistance.

Terms of the Capital Increase

The capital increase was executed through a private placement, in accordance with Articles L. 225-136 of the French Commercial Code and L. 411-2 1° of the French Monetary and Financial Code. The capital increase took the form of the issuance of 2,608,686 new ordinary shares (the "New Shares") to which a share subscription warrant (the "Warrants") were attached.

The capital increase was made through a cash contribution of approximately €11.5 million and by offsetting existing receivables, i.e., approximately €3.0 million (receivables related to the pre-financing of the research tax credit for the 2020 financial year and maturing in 2023, as well as approximately €500,000 in interest accrued to date on the convertible bonds issued in February 2022).

The issue price of the New Shares was set at €5.75 (€0.01 euro par value and €5.74 euros issue premium) and the exercise price of the Warrants at €8.625 euros, representing a total fundraising of approximately €15.0 million.

The Company's Shareholding Structure Post Capital Increase

Following the capital increase, the share capital of the company amounted to €558,081.39 euros, and was composed of 55,808,139 shares with a nominal value of €0.01 euro each.

Public Information and Risk Factors

The capital increase was not subject to a prospectus approved by the French Financial Market Authority (the "AMF"). AB Science has pointed out the risk factors related to the company and its business in its annual management reports and press releases, which are available free of charge on the company's website.


The success of this capital increase is a testament to the confidence that AB Science's historical shareholders have in the company's new direction. It provides AB Science with the necessary resources to continue its important work over the next twelve months, mainly focusing on the clinical development of Masitinib in ALS and other orphan indications as well as the development of the AB Science microtubule destabilizer agents platform.

The company's dedication to the development of rare diseases with Masitinib and the clinical development of AB8939 and future molecules of the same family due to their very encouraging initial results, highlight the innovative and focused approach of AB Science. This strategic focus, backed by a successful capital increase, is set to propel AB Science into its next phase of growth.


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