Gide advises the banks’ syndicate on the $920 million public offering of Abivax, setting a new financing record for a French biotech company
Gide advises the banks’ syndicate, including Leerink Partners, Morgan Stanley, Piper Sandler & Co. and Guggenheim Securities, as joint bookrunning managers, LifeSci Capital, as passive bookrunning manager, and Van Lanschot Kempen, as lead manager, on the $920 million (€807.4 million) public offering of Abivax
The offering consisted of a capital increase without preferential subscription rights through a public offering in the United States of 7,360,000 American Depositary Shares, including the full exercise of the overallotment option.
This new financing represents a major transaction in the biotechnology sector, exceeding the company’s previous record financing in July 2025, with a market capitalization now exceeding €10 billion.
Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax’s lead drug candidate, obefazimod, is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.
Abivax intends to use the net proceeds from the offering to fund expenses relating to potential commercialization of the Company’s lead drug candidate, obefazimod, in the United State, clinical research and development expenses, primarily related to ulcerative colitis and Crohn’s disease as well as for working capital and other general corporate purposes.
Gide’s team comprised partner Arnaud Duhamel, counsel Guillaume Monnier, and associates Yasmine Tanji and Akim Zellami.
The banks’ syndicate was also advised by Latham & Watkins LLP on U.S. law matters.
Abivax was advised by Orrick, Herrington & Sutcliffe (Europe) LLP on French law matters and Cooley LLP on U.S. law matters.
Gide also advised the banks’ syndicate in October 2023 on Abivax’s IPO on the Nasdaq, and in July 2025 on Abivax’s public offering on the Nasdaq, for an amount of $747.5 million (€637.5 million).
