Abivax raises $920 million as it prepares to launch in the US: CEO
Abivax“The latest round of funding allows the biotech company to advance the launch of its intestinal drug in the US without the support of Big Pharma,” CEO Marc de Garidel told CNBC after months of intense takeover speculation.
“Thanks to the money we have raised … we are able to have cash on hand by the end of 2029 and … build the right infrastructure to launch in the U.S.,” de Garidel told CNBC’s “Squawk Box Europe” on Friday.
The clinical-stage French biotech company, valued at nearly 11 billion euros ($12.2 billion), raised $920 million last week after underwriters fully exercised their option to buy additional American depositary shares.
The proceeds will allow the company to fund operations through 2029, including the commercialization of its lead drug and sole asset, obefazimod, in the U.S., as well as other clinical research and development costs for the same drug.
“The best defense for us is actually the offense,” de Garidel replied on Friday when asked whether Abivax would consider a takeover offer at this point.
It followed a volatile month for the company, in which a late-stage study of obefazimod in patients with ulcerative colitis spooked investors with reported cases of cancer in the study cohort and shares plunged as analysts questioned the company’s commercial viability.
A data set from part two of the same study showed that the malignancy rate was in line with normal rates expected for the patient population, resulting in the proportions recouping losses.
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Abivax stock in the last 12 months.
De Garidel on Friday highlighted the drug’s “unprecedented effectiveness in a difficult-to-treat population” and reiterated the company’s stance that it is safe.
“Unfortunately, if you have ulcerative colitis, your immune system is weakened and you are more susceptible to a certain type of cancer,” he said.
Abivax will meet with the U.S. Food and Drug Administration in late July to discuss the new drug application for obefazimod, a so-called pre-NDA meeting, he added.
Takeover speculation
Abivax has been under intense investor scrutiny as a top acquisition target after the company reported strong efficacy of obefazimod over an eight-week period in July 2025. In the following “maintenance study” the effect of the drug was examined over 44 weeks.
However, its Paris-listed shares have risen more than 1,600% in the past 12 months, potentially complicating price negotiations with potential buyers.
De Garidel told CNBC in March that he was confident they could secure a better deal based on the maintenance dates.
Analysts estimate the price of an acquisition could be as high as $23 billion and say Abivax could be a strategic acquisition for any major pharmaceutical company with an immunology and inflammation business.
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