SEPTEMBRE 13, 2022

• On July 16^th July 2021, the Paris Court had imposed on Biophytis a penalty payment of EUR 1,500,000 in favour of Negma Group Ltd, following a judgment of the Paris Commercial Court
• On September 8th 2022, the Paris Court of Appeal partially reversed the judgment of the Enforcement Judge of the Paris Commercial Court
• Negma Group Ltd is ordered to reimburse Biophytis the sum of 1 million euros

Biophytis announces that on the 8^th of September 2022 the Paris Court of Appeal rendered a decision in the case between Biophytis and Negma Group Ltd.

As a reminder :

• In a judgment dated 16 July 2021, the enforcement judge of the Paris Court of First Instance had :
  • Liquidated the penalty imposed by the judgment of the Paris Commercial Court of March 16, 2021 at EUR 1,500,000 and ;
  • Ordered Biophytis to pay this amount to Negma;
  • EUR 50,000 per day of delay (hereinafter the “Judgment”) (see press release dated July 19, 2021, available on the Company’s website).
• Biophytis had (i) appealed the Judgment on July 23, 2021, and (ii) executed the Judgment by proceeding, on July 27, 2021, to the payment of the fine of 1,500,000 euros, in addition to the payment of 8,000 euros under Article 700 of the French Code of Civil Procedure.

Following a judgment dated 8 September 2022, the Paris Court of Appeal :

– Reversed the Judgment;

– Liquidated the penalty imposed by the Paris Commercial Court’s judgment of 16 March 2021 at 500,000 euros;

– Dismissed Negma Group Ltd’s request for the imposition of a new astreinte;

– Rejected Biophytis’ request pursuant to Article 700 of the French Code of Civil Procedure;

– Condemned Negma Group Ltd to pay the costs of the appeal.

Consequently, Negma Group Ltd is ordered to reimburse Biophytis the sum of 1,000,000 euros paid to by Biophytis, in addition to the costs of the appeal.

The proceedings on the merits initiated by Negma Group Ltd against Biophytis in June 2020 are currently under appeal in the Paris Court of Appeal.