Abivax : Registration Document 2019 (EN)

REGISTRATION DOCUMENT

2019

This Registration Document was filed with the French Financial Markets Authority (AMF) on 29 April 2019 as required by Article 212-13 of the AMF's General Regulation. This Registration Document may only be used in support of a financial transaction when supplemented by a transaction note approved by the AMF. It was prepared by the issuer and is binding on its signatories.

Copies of this Registration Document are available free of charge from the Company at 5 rue de la Baume, 75008 Paris, France, as well as electronically on the Company's website (www.abivax.com) and on the AMF's website (www.amf- france.org).

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CONTENTS
1. PERSONS RESPONSIBLE ...........................................................................................................................................	7
1.1.	Person responsible for the Registration Document ..........................................................................................	7
1.2.	Statement by the Responsible Person ..............................................................................................................	7
1.3.	Person responsible for financial reporting ........................................................................................................	7
2. STATUTORY AUDITORS ...........................................................................................................................................	8
2.1.	Principal statutory auditors ..............................................................................................................................	8
2.2.	Alternate statutory auditor ..............................................................................................................................	8
3. SELECTED FINANCIAL INFORMATION ......................................................................................................................	9
4. RISK FACTORS .......................................................................................................................................................	12
4.1	Risks related to the Company's business ........................................................................................................	12
4.2	Risks related to the Company's organisation ..................................................................................................	16
4.3	Regulatory and legal risks ...............................................................................................................................	17
4.4	Industrial risks ................................................................................................................................................	23
4.5	Financial risks .................................................................................................................................................	23
4.6	Market risks ...................................................................................................................................................	27
4.7	Insurance and risk coverage ...........................................................................................................................	29
4.8	Exceptional events and litigation ....................................................................................................................	31
5. INFORMATION ABOUT THE COMPANY .................................................................................................................	32
5.1	History and development of the Company .....................................................................................................	32
5.2	Investments ....................................................................................................................................................	35
6. OVERVIEW OF ACTIVITIES .....................................................................................................................................	36
6.1	General presentation of ABIVAX, a biotech company specialised in viral diseases .........................................	36
6.2	Overview of ABIVAX's main scientific assets ..................................................................................................	39
6.3	Detailed presentation of the main ABIVAX products ......................................................................................	46
6.4	Organisation of ABIVAX ..................................................................................................................................	66
6.5	Legal situation of the Company during the past financial year .......................................................................	70
7. ORGANISATIONAL CHART .....................................................................................................................................	72
7.1	Organisation of the Company .........................................................................................................................	72
7.2	List of subsidiaries, branches and secondary establishments .........................................................................	72
8. PROPERTY, PLANT AND EQUIPMENT ....................................................................................................................	73
8.1	Description of real property ...........................................................................................................................	73
8.2	Environmental matters ...................................................................................................................................	73
9. REVIEW OF RESULTS AND FINANCIAL POSITION ...................................................................................................	74
9.1	General presentation .....................................................................................................................................	74
9.2	Review of the financial position at 31 December 2018 ...................................................................................	74
10. CASH AND CAPITAL .............................................................................................................................................	83
10.1	Information on the Company's capital ...........................................................................................................	83
10.2	Cash flow ........................................................................................................................................................	85

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10.3 Borrowing conditions and financing structure ................................................................................................

86

10.4Restrictions on the use of capital which have materially affected or may materially affect the Company's

	operations directly or indirectly .....................................................................................................................	87
10.5	Expected sources of funding ...........................................................................................................................	87
11. INVENTIONS, PATENTS, LICENCES, TRADEMARKS AND DOMAIN NAMES ............................................................	89
11.1	Innovation policy ............................................................................................................................................	89
11.2	Patents and patent applications .....................................................................................................................	89
11.3	Collaboration, research, service provision and licensing contracts granted by or to the Company ...............	102
11.4	Trademarks, trademark applications and domain names .............................................................................	104
12. TRENDS .............................................................................................................................................................	106
12.1	Outlook for 2019 ..........................................................................................................................................	106
12.2	Known trends, uncertainties, request for commitment or events that are reasonably likely to affect the
	Company's outlook .......................................................................................................................................	106
13. PROFIT FORECASTS OR ESTIMATES ...................................................................................................................	107
14. ADMINISTRATIVE, MANAGEMENT, SUPERVISORY AND EXECUTIVE BODIES .....................................................	108
14.1	Executives, directors and non-voting directors .............................................................................................	108
14.2	Non-voting directors ....................................................................................................................................	116
14.3	Conflicts of interest of administrative and executive bodies ........................................................................	116
15. COMPENSATION AND BENEFITS ........................................................................................................................	117
15.1	Corporate officers' compensation ................................................................................................................	117
15.2	Sums provisioned by the Company for the payment of pensions, retirement benefits and other benefits to
	corporate officers .........................................................................................................................................	121
15.3	Bonus shares, stock subscription warrants and stock subscription options granted to corporate officers ....	121
15.4	Elements of compensation and benefits due or that may be due owing to or subsequent to the termination of
	office of Company executives .......................................................................................................................	122
15.5	Loans and guarantees granted to executives ................................................................................................	122
15.6	Compensation and benefits of corporate executive officers for 2019 ...........................................................	122
16. FUNCTIONING OF ADMINISTRATIVE AND MANAGEMENT BODIES ....................................................................	125
16.1	Management of the Company ......................................................................................................................	125
16.2	Information on the agreements between the executives and/or the directors and the Company ................	125
16.3	Board of Directors and specialised committees - Corporate governance .....................................................	125
16.4	Statement on corporate governance ............................................................................................................	128
16.5	Internal control relative to the preparation and processing of accounting and financial information ..........	130
16.6	Board of Directors' report on corporate governance ....................................................................................	130
16.7	Statutory auditors' report on the report of the Board of Directors on corporate governance ......................	130
17. EMPLOYEES .......................................................................................................................................................	131
17.1	Human resources ..........................................................................................................................................	131
17.2	Shareholdings and stock options of corporate officers .................................................................................	131
17.3	Shareholdings of employees .........................................................................................................................	131
17.4	Incentive and profit sharing contracts ..........................................................................................................	132
18.1	Breakdown of capital and voting rights ........................................................................................................	133
18.2	Major shareholders' voting rights .................................................................................................................	135
18.3	Control of the Company ...............................................................................................................................	135

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18.4	Agreements that could result in a change in control .....................................................................................	136
18.5	Pledging of Company shares .........................................................................................................................	136
18.6	Summary of transactions by persons mentioned in Article L. 621-18-2 of the French Monetary and Financial
	Code carried out on Company securities by executives ................................................................................	136
18.7	Ownership disclosure thresholds ..................................................................................................................	136
18.8	Changes in share price ..................................................................................................................................	137
19. RELATED-PARTY TRANSACTIONS .......................................................................................................................	138
19.1	Intra-group agreements ...............................................................................................................................	138
19.2	Related-party transactions ...........................................................................................................................	138
19.3	Statutory Auditor's special reports for the year ended 31 December 2018 ...................................................	138
20. FINANCIAL INFORMATION ................................................................................................................................	141
20.1	Historical financial information ....................................................................................................................	141
20.2	Audit of the historical annual financial information .....................................................................................	168
20.3	Date of the latest financial information ........................................................................................................	175
20.4	Dividend policy .............................................................................................................................................	175
20.5	Results for the financial years ended since the Company's incorporation ....................................................	176
20.6	Legal and arbitration proceedings ................................................................................................................	177
20.7	Significant changes in the financial or trading position .................................................................................	177
20.8	Post balance sheet events ............................................................................................................................	177
21. ADDITIONAL INFORMATION .............................................................................................................................	178
21.1	Share capital .................................................................................................................................................	178
21.2	Factors likely to have an impact in the event of a public offering .................................................................	195
21.3	Charter and Articles of Association ...............................................................................................................	196
22. MAJOR CONTRACTS ..........................................................................................................................................	209
22.1	Collaboration and research and development contracts ..............................................................................	209
22.2	Main contracts for the provision of services and mandates with clinical research organisations (CRO) and
	centralised laboratories ................................................................................................................................	209
22.3	Trademark transfer agreement ....................................................................................................................	210
22.4	Bpifrance aid contracts (grants and/or repayable advances) ........................................................................	210
22.5	Other financial agreements ..........................................................................................................................	213
23. INFORMATION FROM THIRD PARTIES, EXPERT DECLARATIONS AND DECLARATIONS OF INTERESTS ................	214
23.1	Names of experts .........................................................................................................................................	214
23.2	Names of third parties ..................................................................................................................................	214
24. PUBLICLY AVAILABLE DOCUMENTS ...................................................................................................................	215
25. INFORMATION ON EQUITY INTERESTS ..............................................................................................................	216
26. MANAGEMENT REPORT CROSS-REFERENCE TABLE ...........................................................................................	217
26.1	Cross-reference table with the annual financial report .................................................................................	217
26.2	Cross-reference table with the management report .....................................................................................	217
26.3	Cross-reference table with the report on corporate governance ..................................................................	218

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GENERAL REMARKS

GENERAL REMARKS

This Registration Document was prepared on the basis of Annex I to European Regulation No. 809/2004.

Definitions

In this Registration Document, and unless otherwise specified:

•the terms "Abivax" or "Company" denote Abivax, a société anonyme (limited company) whose registered office is located at 5 rue de la Baume, 75008 Paris, France, registered with the Trade and Companies Register of Paris under number 799 363 718

•the term "Group" denotes the Company and its former subsidiaries:

-Splicos, a société par actions simplifiée (simplified joint stock company) whose registered office was located at 1919, route de Mende - Campus CNRS Languedoc Roussillon - 34293 Montpellier Cedex 5, France, registered with the Trade and Companies Register of Montpellier under number 504 586 017, merged with Abivax through the universal transfer of assets and liabilities on 31 October 2014;

-Wittycell, a société par actions simplifiée (simplified joint stock company) whose registered office was located at 8 bis rue Gabriel Voisin, 51100 Reims, France, registered with the Trade and Companies Register of Reims under number 484 030 366, merged with Abivax through the universal transfer of assets and liabilities on 31 July 2014;

-Zophis, a société par actions simplifiée (simplified joint stock company) whose registered office was located at 5 rue de la Baume, 75008 Paris, France, registered with the Trade and Companies Register of Paris under number 530 959 410, merged with Abivax through the universal transfer of assets and liabilities on 31 July 2014.

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