Biophytis announces its 2023 financial results and provides an update on its business activities

Biophytis publishes its financial results for the year ended December 31, 2023, and provides an update on the progress of its various programmes.

“In 2023, despite a particularly difficult financial environment for the biotech sector, we succeeded in pursuing the development of our clinical programmes, while securing the company’s financing until early 2025,” states Stanislas Veillet, CEO of Biophytis. “We were able to confirm the therapeutic value of BIO101 (20-hydroxyecdysone), our lead drug candidate, in the treatment of patients suffering from severe forms of COVID-19, opening the door to wider use in viral Severe Acute Respiratory Infections (SARI). We have also obtained authorization to initiate a phase 3 SARA-31 trial in the United States and Belgium in sarcopenia, a disease that is still poorly understood but very common among the elderly and currently untreated. We are actively seeking global or regional pharmaceutical company partners to co-finance the phase 3 studies required to file a marketing authorization and to market BIO101 (20-hydroxyecdysone) in these two indications. Finally, we are starting a new phase 2 clinical development programme in obesity to assess the efficacy of BIO101 (20-hydroxyecdysone) in maintaining muscle function in obese patients treated with GLP- 1 receptor agonists. We believe we can position ourselves as a key player in this fast-growing market, which is expected to reach over $100 billion by 2030 according to Goldman Sachs.”