Gide advises DBV Technologies on a financing of up to $306.9 million (€284.5 million)

Gide advised DBV Technologies, a dual listed company on Euronext Paris and the Nasdaq, on a financing of up to $306.9 million (€284.5 million) through a PIPE with the issuance of 34,090,004 new shares with warrants attached (ABSA) and 71,005,656 pre-funded warrants with warrants attached to subscribe to pre-funded warrants (PFW-BS-PFW).

This financing is the largest by a French-listed biotech company since Inventiva in October 2024 and features an innovative structure for the French market.

DBV Technologies is a clinical-stage biopharmaceutical company developing treatment options for food allergies and other immunologic conditions with significant unmet medical need.

This financing will enable DBV Technologies to finance the continued development of the Viaskin® Peanut program in view of the preparation and submission of a Biologics License Application Submission (BLA) and to prepare the U.S. commercial launch of the product, if the BLA is approved. It is a continuation of the previous fundraisings (2020 and 2022) which were intended to finance the development of the Viaskin® Peanut program and on which Gide was also involved.

Gide’s team comprised partner Arnaud Duhamel, counsels Louis Ravaud and Guillaume Monnier, and associate Yasmine Tanji on the capital markets aspects and partner Didier Martin on corporate matters.

DBV Technologies was also advised by Cooley LLP on U.S. law matters.

The placement agents, LifeSci Capital LLC, Van Lanschot Kempen N.V., and Van Lanschot Kempen (USA) Inc., were advised by McDermott Will & Emery A.A.R.P.I. on French law matters and Paul Hastings LLP on U.S. law matters.

Willkie Farr & Gallagher LLP advised Suvretta Capital, investor in the context of the financing.