展示文件99.1

法國一傢俱有董事會和股本爲€5,235,953.60的上市公司
註冊辦公地址：14 Avenue de l'Opéra - 75001 PARIS
RCS PARIS 492 002 225

中期 財務報告

截至2024年6月30日

2024年6月30日的中期財務報告

2024年6月4日，Nano Dimension股份有限公司（「註冊人」）發佈了一份新聞稿，題爲「大使喬吉特·莫斯巴赫加盟Nano Dimension董事會」，現附上99.1展覽，併成爲本文檔的一部分。 

2024年6月截至的中期財務報告

2024年6月30日的中期財務報告

常規 說明 

定義

在這份中期財務報告中，除非另有說明：

關於 Biophytis

Biophytis SA是一家臨床階段的生物技術公司，專注於開發針對與年齡相關疾病的藥物候選品。

BIO101 我們的主力藥物候選，是一種正在研發中的小分子，用於治療肌肉（肌無力，第3階段準備進行，以及 杜甫肌肉營養不良）呼吸（新冠肺炎，第2-3階段完成）和代謝（肥胖，第2階段準備進行）疾病。

這家公司總部位於法國巴黎，在美國馬薩諸塞州劍橋和巴西設有子公司。公司的普通股在歐洲創業板巴黎上市（ALBPS - FR001400OLP5），其美國存托股份（American Depositary Shares）在場外交易上市（BPTSY - US 09076G401）。

獲取更多信息： www.biophytis.com

2024年6月30日的中期財務報告

Stanislas VEILLEt，董事長兼首席執行官

(根據法國金融市場管理局一般規定的第222-3 - 4°條款)

“本人在此聲明，據本人所知，公司上半年份的精簡合併基本報表已按適用會計準則編制，並且真實公正地反映了公司及並表公司的資產、負債、財務狀況和利潤/虧損情況，所附中期活動報告真實公正地展示了上半年發生的重大事項、對基本報表的影響以及主要的關聯交易，並概述了預計年剩下六個月內的主要風險和不確定性"。

巴黎， 2024年9月27日。

Stanislas VEILLEt，董事長兼首席執行官

2024年6月30日的中期財務報告

2.1.1 研究與開發 

2024年上半年，公司繼續推進其主要臨床和臨床前項目。

特別是在四月初，Biophytis宣佈了其開始控件COVA計劃。 新的COVA計劃使用BIO101（20-羥基蛹素）用於肥胖。.

肥胖治療可能會導致肌肉質量和功能的損失，特別是在與最近推出的GLP-1受體激動劑相關的治療方案之後。胰高血糖素樣肽1受體激動劑（GLP-1 RAs）是高效的藥物，可以導致顯著的體重減輕。最多40%的總體重減少來自肌肉，這造成了問題，因爲肌肉組織不僅在於其運動功能，而且對於控制新陳代謝至關重要。到2030年，超過1500萬美國成年人將接受抗肥胖藥物治療，這意味着美國成年人口的13%。2019年，市場估值爲600億美元，預計年均增長率爲42%，到2030年，肥胖治療市場預計將達到1000億美元 （資料來源：高盛研究）.

BIO101 (20-hydroxyecdysone) is the first daily oral MAS receptor activator to demonstrate metabolic effects on muscle and fat mass in preclinical obesity studies. These beneficial effects of BIO101 (20-hydroxyecdysone) could therefore lead to improved mobility and muscle strength in sarcopenic obese patients, as suggested by the SARA-INT phase 2 study. In addition, the 20-hydroxyecdysone molecule has already been tested in obese patients on low-calorie diets as part of the Quinolia study, showing promising effects on muscle strength and fat loss.

In order to demonstrate the potential of BIO101 (20-hydroxyecdysone) in the treatment of obesity to counter the adverse effects of muscle wasting associated with drastic weight loss, the Company plans to launch the phase 2 OBA clinical trial in which BIO101 (20-hydroxyecdysone) will be evaluated in obese patients treated with GLP-1 RAs, in association with a hypo-caloric diet. This study will test the efficacy and safety of BIO101 (20-hydroxyecdysone) in overweight and obese patients with secondary comorbidities, when starting treatment with GLP-1 RAs for weight loss. This will be a double-blind, randomized, placebo-controlled clinical trial in which 164 obese (BMI ≥30) or overweight (BMI ≥27 with one or more sequelae such as diabetes or hypertension) patients will be enrolled at the start of GLP-1 RA treatment in combination with a hypo-caloric diet. Double-blind treatment with 350 mg of BIO101 (20-hydroxyecdysone) will be administered twice-daily over a period of 21 weeks. The primary efficacy criterion is muscle strength measured by knee extension, and important secondary criteria include the 6-minute walk test and other performance tests, muscle strength normalized to lean mass, appendicular lean mass and fat mass, biomarkers and various patient-reported outcomes (PROs).

On July 11, 2024, Biophytis announced that it had received Investigational New Drug (IND) approval from the Food and Drug Administration (FDA) for its phase 2 OBA clinical trial of BIO101 (20-hydroxyecdysone) for obesity. The study is due to start in the USA during the second half of 2024, and may be extended to Europe. Preliminary results on the efficacy of BIO101 are expected by the end of 2025. Biophytis is currently seeking funding and partnerships for the successful operation of this study.

In addition, on April 15, 2024, the Company announced the filing of a patent application for the treatment of obesity, which will mean that exclusivity may be extended for BIO101's (20-hydroxyecdysone) for this usage until 2044.

Interim financial report as of June 30, 2024

2.1.2 Partnerships 

Biophytis is continuously seeking partners with the objective of licensing BI0101 (20-hydroxyecdysones) to regional or global pharmaceutical companies able to co-develop this drug candidate through to marketing authorization for the treatment of obesity and other symptoms, and which will also have the capacity to launch and commercialize it across the globe. The company has drawn up a precise, bespoke action plan for this objective, which includes working closely with local agents to provide expertise, networking and presence for the General Management at the most interesting pharmaceutical industry events.

On June 20, 2024, Biophytis announced the signature of an exclusive license agreement with Blanver, one of Brazil's leading pharmaceutical companies, for BIO101 (20-Hydroxyecdysone) in Latin America, including but not limited to Brazil, Mexico, Argentina and Colombia.

The agreement stipulates that after Biophytis has completed the planned clinical development programs for the drug candidate, Blanver will be responsible for the registration, marketing and commercialization of BIO101 (20-Hydroxyecdysone) for the various conditions: obesity, Covid-19 related respiratory infections, sarcopenia and Duchenne Muscular Dystrophy (DMD) - After 40 years in the industry, Blanver has become an expert in infectious diseases, osteoporosis and metabolic disorders making it a perfect fit with Biophytis' market position. In addition to Brazil, Blanver has an extensive network of sole distributors covering the whole of Latin America.

Under the terms of the partnership, Biophytis could receive up to €108 million, in the form of an upfront payment and subsequent additional payments due when certain targets are met. Biophytis is also eligible to receive double-digit royalties on net sales of BIO101 (20-Hydroxyecdysone) in the area covered by the partnership, once future marketing approvals have been obtained.

2.1.3 Financing 

Under the convertible bond issue agreement signed in 2021 with Atlas (the "ATLAS 2021 agreement"), the Company received net proceeds of 3.8 million euros during the first half of 2024, corresponding to the issue of the fourth tranche of 160 ORNANE bonds under the ATLAS 2021 agreement.

The Company has also renewed the ATLAS 2021 contract for a further two years, until June 14, 2026. This amendment will enable Biophytis to issue convertible bonds for a maximum amount of €16 million, in tranches of up to €2 million each. In order to limit the potentially dilutive impact of the financing, the issue of a new tranche will only be possible if the outstanding bond debt held by Atlas at the time of drawdown is at most 2 million euros. The amount outstanding at the date of this report was €2.3 million.

2.1.5 Governance 

At the Annual General Meeting of June 24, 2024, the terms of office for Stanislas Veillet, Nadine Coulm and Claude Allary were renewed for a period of three years. As of the date of this report, the Board of Directors comprises four members, two of whom are independent:

2.1.5 Stock markets 

On April 24, 2024, the Company announced that it had received notice from Nasdaq that the Nasdaq Hearing Panel (the "Panel") had decided to delist the Company's securities from Nasdaq due to non-compliance with the equity requirements set out in Listing Rule 5550(b). Following the Panel's decision, Nasdaq suspended trading of the Company's American Depositary Shares (the "ADSs") as of Friday, April 26, 2024, and on June 26, after expiry of the applicable appeal and review periods, filed a Form 25 with the Securities and Exchange Commission (the "SEC") to effect the formal delisting of the ADSs from Nasdaq.

When the ADSs trading ceased trading on the Nasdaq, they then began trading on the OTC Pink Current Information market under the symbol "BPTSY".

The Company remains listed on Euronext Growth Paris as its main trading market, and will continue to issue its financial information in compliance with French financial market regulations.

Interim financial report as of June 30, 2024

Operating income amounted to €(4,390) thousand as of June 30, 2024, compared with €(6,524) thousand as of June 30, 2023, and corresponds to research and development costs and general and administrative expenses incurred during the half-year and detailed below, as the Group recorded no sales.

External expenses fell sharply, particularly in R&D activities. This change reflects the completion of clinical trials for the COVA and SARA programs in the first half of 2023, and a high level of regulatory and clinical work insourcing associated with the start-up of the OBA obesity program as decided in April 2024.

*2.2.2 Net income

Net financial income amounted to €(1,427) thousand as of June 30, 2024, compared with €(1,241) thousand as of June 30, 2023. This €137 thousand decrease is mainly due to the change in the fair value of convertible bonds and fees payable to the Atlas Capital fund in connection with the two-year renewal, agreed in June 2024, of the convertible bond financing contract.

Interim financial report as of June 30, 2024

Cash and cash equivalents amounted to €2.2 million as of June 30, 2024, compared with €5.6 million as of December 31, 2023. In terms of consolidated cash flow, this variation is broken down as follows:

Developments in R&D programs after June 30 are described in section 2.1.1.

The Company received two non-dilutive financings during the month of August 2024:

Since June 30, 2024, the company has carried out, at the request of ATLAS, the conversion of 26 convertible bonds (ORNANE) as part of tranche 4 of the ATLAS 2021 contract for a total amount of €650 thousand. The operations resulted in the creation of 1,290,058 new shares. At the end of these conversions, the nominal amount of the residual bond debt vis-à-vis Atlas amounts to €2,300 thousand.

In 2024 and 2025, the Company will pursue its value-creation strategy based on the development of its therapeutic innovations.

Depending on its financing capabilities, the Company plans to develop its drug candidate BIO101 (20-Hydroxyecdysone) to proof of concept in humans, corresponding to the safety and efficacy results of a phase 2 study in two indications: obesity and Duchenne muscular dystrophy. For its programs in sarcopenia and in severe forms of Covid-19 with BIO101, the Company will continue its active search for partners to co-develop its drug candidate, based on the positive results already obtained in terms of efficacy and safety.

The Company plans to start the Phase 2 OBA study in the second half of 2024 for the United States and possibly in additional European centers. Preliminary results on the efficacy of BIO101 are expected by the end of 2025.

The Company plans to start a phase 1/2 OBA study in non-ambulant patients suffering from DMD in 2025.

Interim financial report as of June 30, 2024

In recent years, the Company has obtained significant results in terms of efficacy in patients suffering from sarcopenia and severe forms of Covid-19 respectively and has been able to demonstrate good tolerance in these fragile patients. The next stages of development of the SARA and COVA programs require carrying out long and costly phase 3 studies for which the support of pharmaceutical partners will be necessary within the framework of co-development and licensing contracts.

After the agreement with Blanver in June 2024 for Latin America, Biophytis is focusing its search for potential partners on the Asia region. Sarcopenia is a very common pathology in this region, particularly in China and Japan. In these two countries, nearly 38 million people aged over 65 suffer from sarcopenia¹, with this population likely to grow by more than 5% per year by 2030², which constitutes a particularly attractive target market.

The risk factors are the same as those presented in the 2022 Annual Financial Report in Appendix 2 “Risks and uncertainties faced by the Company”.

With regard to the Company's financing risk, please refer to Note 1.2 to the Consolidated Financial Statements as of June 30, 2024 as presented below.

Transactions between related parties are the same as those presented in the 2023 Annual Financial Report in Note 21 "Related parties" of section 4: “The Group's consolidated financial statements prepared in accordance with IFRS for the year ended December 31, 2023 and in Note 18 "Related parties" of section 5: “Annual financial statements of BIOPHYTIS SA for the year ended December 31, 2023”.

Interim financial report as of June 30, 2024

Consolidated financial statement

Interim financial report as of June 30, 2024

Consolidated income statement

Note: for comparison purposes, the number of shares used to calculate earnings per share as of 06/30/2023 retrospectively takes into account the reverse stock-split of May 3, 2024 on the basis of one new share for 400 old shares

Statement of consolidated comprehensive income

Interim financial report as of June 30, 2024

Statement of changes in consolidated shareholder equity

⁽¹⁾ The negative share premium is due to the nominal value of the shares being higher than their actual value when the bonds were converted

Interim financial report as of June 30, 2024

Statement of consolidated cash flows

Interim financial report as of June 30, 2023 

Notes to the condensed interim consolidated financial statements

The following information constitutes the notes to the condensed interim consolidated financial statements for the 6-month period ended June 30, 2024 with comparative information for the year ended December 31, 2023 for balance sheet items and for the six-month period ended June 30, 2023 for income statement items.

The condensed interim consolidated financial statements were prepared under the responsibility of the Company's management and authorized for issue by the Board of Directors on September 27, 2024.

Unless otherwise indicated, the condensed interim consolidated financial statements are presented in thousands of euros. Certain amounts may be rounded up for the purpose of calculating the financial information contained in the condensed interim consolidated financial statements. As a result, the totals in some tables may not correspond exactly to the sum of the preceding figures.

Biophytis and its subsidiaries are hereinafter referred to as "Biophytis" or the "Company".

Note 1: Accounting principles, rules and methods

1.1 Statement of compliance

Pursuant to European regulation 16/06/2002 of July 19, 2002 on international accounting standards, the Company's condensed interim consolidated financial statements for the six months ended June 30, 2024 have been prepared in accordance with current international accounting standards as adopted by the European Union (hereinafter referred to as the "IFRS") and the IFRS published by the International Accounting Standards Board (IASB). These standards incorporate the International Accounting Standards (IAS/IFRS), the interpretations of the Standard Interpretations Committee (SIC) and the International Financial Reporting Interpretations Committee (IFRIC) as published by the International Accounting Standards Board (IASB) and applicable as of June 30, 2024.

The condensed consolidated financial statements as of June 30, 2024 have been prepared in accordance with the provisions of IAS 34 - Interim Financial Reporting, as adopted by the European Union, and IFRS as published by the IASB (International Accounting Standards Board), which allows the presentation of a selection of explanatory notes. As these are condensed financial statements, they do not include all the information required by the IFRS and should be read in conjunction with the Company's annual IFRS consolidated financial statements for the year ended December 31, 2023 (the "Annual Financial Statements").

1.2 Going concern

The Company's financial statements at June 30, 2024 have been prepared on a going concern basis. Accordingly, they do not include any adjustments relating to the amount or classification of assets and liabilities that would be necessary if the Company were unable to continue as a going concern.

We estimate that existing financial resources, consisting of cash and cash equivalents of €2.2 million as of June 30, 2024, as well as of non-dilutive financing of €0.8 million received in August 2024, are sufficient to finance current operations until the end of October 2024. The Company may draw on the ORNANE financing line set up with Atlas and renewed in June 2024 (the "Atlas 2021 Contract"), which could raise additional financing of €2 million, provided that the outstanding debt with Atlas does not exceed €2 million. At the date of this report, the total amount outstanding was €2.3 million. Subject to this additional financing, available cashflow should be able to support the Company's operating plan until the end of 2024, but these resources are not expected to be sufficient to finance business over the next 12 months. At the time of preparation of these financial statements, there is therefore significant uncertainty as to the Company's ability to continue as a going concern and, consequently, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business.

Interim financial report as of June 30, 2023 

We intend to seek additional capital to pursue our preclinical and clinical activities, obtain regulatory approvals and launch our drug candidates onto the market. In particular, in 2024 and 2025, we could carry out equity financing transactions on Euronext Growth or enter into partnership or licensing agreements for our R&D programs that could provide additional non-dilutive financial resources or reduce our overheads.

The Company cannot guarantee that it will be able to obtain the financing required to meet its needs, or obtain funds on attractive terms, notably due to disruptions in global financial markets resulting from geopolitical instability, macroeconomic conditions, global health crises, or other factors.

If the Company is unable to meet its funding targets, it may have to scale back its activities, notably by delaying or reducing the scope of its research and development efforts, or obtain funding through collaboration or other agreements, which could require the Company to relinquish rights to its candidate products, which the Company might otherwise seek to develop or market independently.

1.3 Accounting methods

The accounting methods applied by the Company for the condensed interim consolidated financial statements for the six month period ended June 30, 2024 prepared under IFRS are the same as those used for the financial statements prepared under IFRS for the year ended December 31, 2023, with the exception of the specific provisions for the preparation of interim financial statements.

The main standards and amendments in force, whose application will be compulsory in the European Union from January 1, 2024, are as follows:

These standards and amendments had no significant impact on the Company's condensed interim consolidated financial statements.

In addition, the other standards, amendments and interpretations published respectively by the IASB and the IFRIC (International Financial Reporting Interpretations Committee) and adopted by the European Union as of June 30, 2024, but whose compulsory application is subsequent to the financial year beginning January 1, 2024, have not been applied early by the Company.

1.4 Foreign currency translation of financial statements

The financial statements of entities whose operating currency is not the euro are translated as follows:

The resulting unrealized gains and losses are recognized in other comprehensive income under "Conversion differences". They are reclassified in the income statement upon full or partial disposal with loss of control of the entity.

The exchange rates used to prepare the interim consolidated financial statements are as follows :

Interim financial report as of June 30, 2023 

1.5 Use of judgments and estimates

The preparation of financial statements requires that the management makes reasonable estimates and assumptions based on the information available at the date that the financial statements are finalized. These estimates and assumptions may affect the values of assets, liabilities and expenses given in the financial statements, and the disclosure of contingent assets and liabilities when the financial statements are reviewed.

In preparing the condensed interim consolidated financial statements, the main judgments and assumptions made by management are the same as those applied in the preparation of the annual financial statements for the year ended December 31, 2023.

These estimates are based on the going concern assumption and are prepared using the information available at the time of preparation.

The international geopolitical and economic situation has not led to the use of any significant new estimates or judgments in the first half of 2024.

Note 2: Leases

Rights of use correspond mainly to leases of laboratory equipment and are amortized over the residual term of the contracts.

The lease for the Company's Paris premises at Sorbonne Université is agreed on an annual basis and was renewed in December 2023 for one year. As this contract is for less than one year, the right of use has not been recognized in the consolidated financial statements in accordance with IFRS 16.18.

Note 3: Other receivables

The "research tax credit (CIR)" item corresponds to the French CIR receivables for the 2023 financial year amounting to €1,503 thousand and the first half of 2024 amounting to €775 thousand, which have been assigned to Neftys as part of the CIR pre-financing scheme (see Note 8.3). In accordance with IAS 20, the CIR for the first half of 2024 has been deducted from research and development costs. The CIR receivable is recoverable in advance during the year following the year in which it was recorded, in the absence of taxable income.

Interim financial report as of June 30, 2023

Note 4: Cash and cash equivalents

Cash equivalents correspond to term deposits complying with the provisions of IAS 7.6 and IAS 7.7, i.e. short-term, liquid investments that can be drawn down rapidly.

Note 5: Financial assets and liabilities and their impact on income

The company's financial assets and liabilities as of December 31, 2023 and June 30, 2023 are as follows:

Interim financial report as of June 30, 2023

The impact of the Company's financial assets and liabilities on the income statement at June 30, 2024 is as follows:

Note 6: Capital

On June 30, 2024, the Company's share capital stood at €4,203,396, in the form of 5,254,245 fully paid-up shares with a par value of €0.8 each.

On May 3, 2024, the Company completed a reverse split of its ordinary shares following the decision by the Chief Executive Officer dated March 15, 2024, acting as authorized by the Board meeting of December 15, 2023, in turn authorized by the Combined General Meeting of April 17, 2023 (16^th resolution). The Consolidation resulted in the allocation of 1 new ordinary share with a par value of €0.80 (the "New Shares") for 400 existing ordinary shares with a par value of €0.002 each (the "Existing Shares"), and a 400-for-1 reverse stock split.

Capital movements for the first half of 2024 were as follows:

Interim financial report as of June 30, 2023

Note 7: Share subscription warrants, founders’ warrants and bonus share allocations

The shares that may be created in connection with the share subscription warrants, founders’ warrants and bonus shares allocated by the Company indicated in this note correspond to the New Shares resulting from the May 3, 2024 reverse stock-split (see note 6).

Share subscription warrants ("BSA")

No warrants were granted during the first half of 2024.

Changes in the number of warrants outstanding at June 30, 2024 can be analyzed as follows:

The BSA₂₀₁₈,BSA₂₀₂₀,BSA_2023-07 and BSA_2023-11 were issued in connection with financing transactions, while BSA₂₀₂₁ and BSA₂₀₂₂ were granted to members of the Board of Directors.

BSA warrants associated with the Kreos Contract

See Note 8.2.2 Issuance of convertible and non-convertible bonds to Kreos – Contract 2021.

Founders’ warrants ("BSPCE")

No BSPCEs were granted in the first half of 2024, since 2022 the Company no longer meets the eligibility criteria (registered for more than 15 years).

Changes to the number of BSPCEs outstanding as of June 30, 2024 can be analyzed as follows:

Allocation of bonus shares ("AGA")

On April 14, 2023, the Company allocated 18,904,158 AGA₂₀₂₂ entitling beneficiaries to receive one free ordinary share in the Company. A total of 18,853,398 shares, corresponding to 47,133 New Shares after the reverse split of May 3, 2024, were definitively acquired by their beneficiaries on April 14, 2024 and remain subject to a 1-year holding period. In addition, the Company allocated 54,000,000 free shares to the Chief Executive Officer on January 23, 2024 and 54,100,000 to company staff on February 5, 2024, resulting in a total of 108,100,000 free shares corresponding to 270,250 New Shares after the reverse split of May 3, 2024. These AGA_2023s are subject to a 1-year vesting period and a 1-year holding period.

Interim financial report as of June 30, 2023

Changes to the number of AGAs under acquisition as of June 30, 2024 can be analyzed as follows:

Share-based payment expenses as accounted for on June 30, 2023 and June 30, 2024

Note 8: Borrowings and financial liabilities

Interim financial report as of June 30, 2023

Breakdown of borrowings as of June 30, 2024 by maturity, at balance sheet value

8.1 Repayable advances