France-based biotech AB Science S.A. (Euronext Paris: AB) announced the completion of a EUR 14.2 million (approximately USD 15.5 million) private placement on August 10, 2026, with funds set to support the initial steps of a strategic plan due to be disclosed in September. The firm has two clinical-stage pipeline candidates at present: the Phase III stage tyrosine kinase inhibitor masitinib, and the Phase I-stage microtubule-destabilizing molecule AB8939.
The placement was conducted through the issuance of 23,278,692 new ordinary shares, with an existing long-term investor accounting for EUR 12 million of the total, with CEO Stéphane Ledermann contributing personally alongside other participants. If all attached warrants are exercised the round would generate approximately EUR 36 million in additional proceeds and require issuance of a further 36,590,166 shares. The new shares represented approximately 22.53% of share capital on a non-diluted basis following completion. The transaction brings the company's cash position to approximately EUR 23 million, which AB Science said is sufficient to cover financing needs beyond the next 12 months without additional near-term capital raises.
Proceeds are directed primarily toward three areas: the Phase I/II study of microtubule-destabilizing drug candidate AB8939 in relapsed or refractory acute myeloid leukemia (AML); the confirmatory Phase III trial of tyrosine kinase inhibitor masitinib in amyotrophic lateral sclerosis (ALS); and nearer-term value-creation projects the company said will be finalized and disclosed in September. Following a voluntary temporary halt of European clinical trial recruitment in April 2026 and a debt restructuring that deferred loan repayments by up to 24 months, AB Science has narrowed its active internal development to these two programs.
The ALS program centers on study AB23005, a 408-patient, double-blind Phase III trial evaluating masitinib at 4.5 mg/kg/day in combination with riluzole, authorized by both the FDA and EMA. The trial targets patients with normal disease progression who have not yet experienced complete loss of function — a population in which prior Phase II/III data reported a 12-month median overall survival benefit and statistically significant functional improvements. A clinical trial financing insurance policy from Medical & Commercial International Ltd., Lloyd's Syndicate 1902, offering excess-free coverage of up to EUR 25 million against clinical failure costs, remains available for activation upon study initiation and premium payment, with the offer valid through December 31, 2026.