On Friday, Biophytis SA (NASDAQ: BPTS) retained its Buy rating and $15.00 stock price target from H.C. Wainwright. The firm's endorsement follows Biophytis's recent announcement of a significant licensing agreement with Blanver, a Brazilian pharmaceutical company.
The deal, which was announced on June 20, grants Blanver exclusive rights to commercialize BIO101 in Latin American markets, including major countries like Brazil, Mexico, Argentina, and Colombia.
The agreement, potentially worth up to €108 million, encompasses the commercialization of BIO101 for various age-related diseases. These include conditions such as obesity, respiratory infections stemming from Covid-19, sarcopenia, and Duchenne Muscular Dystrophy (DMD).
Biophytis will receive upfront payments, milestone payments, and double-digit royalties on future sales within the territory, contingent upon the successful marketing authorization of the product.
Blanver is set to take charge of the registration and marketing of BIO101, while also collaborating with Biophytis on manufacturing and joint clinical development. This partnership leverages Blanver's extensive distribution network throughout Latin America, aiming to enhance the reach and impact of BIO101.
The licensing deal is seen as a strategic move for Biophytis as it seeks to progress its clinical programs. The firm's ability to secure such an agreement is interpreted as a positive sign for the global potential of BIO101, particularly in addressing areas with significant unmet medical needs.
The maintained Buy rating and price target reflect confidence in the company's direction and the prospects of its therapeutic agent, BIO101.
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