Dechert Advises Abivax in Kreos Capital Financing

PARIS – Dechert LLP advised biotechnology company Abivax in its structured debt financing with Kreos Capital valued at up to EUR 20 million.  

This financing comprises two tranches of EUR 10 million each (EUR 8 million straight bonds and EUR 2 million convertible bonds) which may be exercised under certain conditions and which are expected to extend cash runway until Q1 2020. As part of the debt financing, Kreos may receive ABIVAX warrants for shares valued at up to EUR 1.6 million.

Abivax will allocate funds received to the completion of two phase 2b studies for programs developing treatments for HIV and Ulcerative Colitis.  

The Dechert Paris team advising Abivax was led by corporate partner François Hellot, assisted by corporate associates Quentin Durant and Léa Simovic. 

Kreos Capital was advised by Reinhart Marville Torre with partner Laurent Cavallier and associate Vincent Collas. 

Read the French press release here.

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