AbivaxThe latest round of funding allows the biotech to move toward launching its intestinal disease drug in the United States without backing from Big Pharma, CEO Marc de Garidel told CNBC after months of intense acquisition speculation.
“Thanks to the cash we raised… we are in a position to have cash until the end of 2029 and… build the right infrastructure for the U.S. launch,” de Garidel told CNBC's “Squawk Box Europe” on Friday.
The clinical-stage French biotech, worth nearly €11 billion ($12.2 billion), raised $920 million last week after underwriters fully exercised their option to buy additional U.S. depositary shares.
The proceeds will allow it to fund operations through 2029, including the commercialization of its lead and only active drug, obefazimod, in the US and additional clinical research and development expenses for the same drug.
“The best defense for us is actually the offense,” de Garidel said Friday in response to a question about whether Abivax would consider a takeover offer at this time.
It came after a volatile month for the company, where a late-stage trial of obefazimod for patients with ulcerative colitis spooked investors with cancer cases reported in the study cohort, sending the stock tumbling as analysts questioned its commercial viability.
A data set from the second part of the same trial showed that malignancies were in line with normal rates expected for the patient demographic, leading the stock to recoup losses.
Abivax action in the last 12 months.
De Garidel on Friday emphasized the drug's “unparalleled efficacy in a difficult-to-treat population” and repeated the company's stance that it is safe.
“When you have ulcerative colitis, unfortunately, your immune system is depleted and you are more susceptible to certain types of cancer,” he said.
Abivax will meet with the US Food and Drug Administration in late July to discuss its New Drug Application for obefazimod, a so-called pre-NDA meeting, he added.
Acquisition speculation
Abivax has been under intense scrutiny from investors as a prime acquisition target after it reported strong efficacy for obefazimod over 8 weeks in July 2025. The next “maintenance” trial evaluated the effect of the drug for 44 weeks.
However, its Paris-listed shares have soared more than 1,600% in the past 12 months, which could complicate price negotiations with would-be buyers.
De Garidel told CNBC in March that he was confident he could get a better deal after the maintenance data.
Analysts have estimated that an acquisition could carry a price tag of up to $23 billion and said Abivax could be a strategic acquisition for any large pharmaceutical company with an immunology and inflammation franchise.
