Lille (France), Boston (Massachusetts, United States), February 29, 2016 - GENFIT (Euronext: GNFT ; ISIN : FR0004163111), a biopharmaceutical company at the forefront of developing therapeutic and diagnostic solutions in metabolic and inflammatory diseases that notably affect the liver or the gastrointestinal system, announces today that it has raised EUR 49.6 million in gross proceeds through a private placement to institutional investors, principally in the United States. Pursuant to the fifth resolution of the Shareholders General Meeting of February 24, 2015, GENFIT has placed 2,395,890 new shares at a price of EUR 20.70 per share. The offering represents 10% of the pre-transaction share capital and will bring the total number of shares after the issuance to 26,354,794, representing a dilution of 9.09% for the existing shareholders.

The proceeds of this transaction will be used to:

  • continue the clinal development of Elafibranor/GFT505;
  • and for general corporate purposes.

Jean-François Mouney, CEO, said: "We are very satisfied with the results of this private placement which shows that specialized healthcare investors appreciate the phase 2b results of Elafibranor in NASH, which has recently been accepted for publication in Gastroenterology, and fully recognize the potential of this drug. Our cash position is considerably strengthened and allows us to serenely advance with our strategy for development of the company."

The new shares will be fully fungible with GENFIT's existing shares. Application has been made to list  the new shares on Euronext Paris on the same line as GENFIT's existing shares (ISIN Code FR0004163111). The settlement-delivery of the new shares is expected to take place on March 2, 2016.

The capital increase was carried out without shareholders' preferential subscription rights pursuant  to Article L.225-136 of the French Commercial Code and the fourth and fifth resolutions of the Shareholders General Meeting of February 24, 2015.

As the capital increase represents less than 10% of GENFIT's outstanding share capital, no prospectus has been established for the purpose of the listing of the shares on Euronext Paris.


GENFIT GENFIT is a biopharmaceutical company focused on the discovery and development of drug candidates in areas of high unmet medical needs corresponding to a lack of suitable treatment and an increasing number of patients worldwide. GENFIT's R&D efforts are focused on bringing new medicines to market for patients with metabolic, inflammatory, autoimmune and fibrotic diseases, that affect the liver (such as NASH - Nonalcoholic steatohepatitis) and more generally the gastro-intestinal arena. GENFIT implements mutually beneficial approaches that combine novel treatments and biomarkers; its research programs have resulted in the creation of a rich and diversified pipeline of drug candidates, including GENFIT's lead proprietary compound, Elafibranor (GFT505), that has completed a positive Phase 2b study in NASH and is currently launching a Phase 3 study. With facilities in Lille, France, and Cambridge, MA (USA), the Company has approximately 100 employees. GENFIT is a public company listed in compartment B of Euronext's regulated market in Paris (Euronext: GNFT - ISIN: FR0004163111)