• On July 16, 2021, following a ruling by the Paris Commercial Court, the Paris Court had imposed a fine of EUR 1,500,000 on Biophytis in favor of Negma Group Ltd
• On September 8, 2022, the Paris Court of Appeal partially overturned the judgment of the Execution Judge of the Paris Commercial Court
• Negma Group Ltd is ordered to pay Biophytis the sum of 1 million euros

ARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / September 13, 2022 / Biophytis SA (NasdaqCM:BPTS)(Euronext Growth Paris:ALBPS) (the “Company” or “Biophytis”), a clinical-stage biotechnology company focused on the development of therapeutics that target the degenerative processes associated with aging, including severe respiratory failure, slowing down in patients suffering from COVID-19, today announces that on September 8, 2022, the Paris Court of Appeal granted a decision in the case between Biophytis and Negma Group Ltd. has met.

As a reminder:

• In a judgment of July 16, 2021, the Execution Judge of the Paris Court of First Instance found that:
  • The fine of EUR 1,500,000 imposed by the judgment of the Paris Commercial Court of March 16, 2021 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) enforced the judgment by paying on July 27, 2021 the fine of 1,500,000 euros in addition to the payment of 8,000 euros pursuant to Article 700 of the French Code of Civil Procedure.

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

– the judgment overturned;

– liquidated the fine imposed by the judgment of the Paris Commercial Court of March 16, 2021 to 500,000 euros;

– Denial of Negma Group Ltd’s application for the imposition of a new bailout;

– Refusal of Biophytis’ application under Article 700 of the French Civil Code…