Sofinnova Crossover I Increases Stake in Abivax S.A. via Royalty Certificate Exchange
On May 11, 2026, Sofinnova Crossover I SLP (SC), along with its management company Sofinnova Partners SAS and associated investment committee members, filed an amendment to their Schedule 13D regarding Abivax S.A. (ABVX). The filing reports that SC acquired 42,755 American Depositary Shares (ADSs) as part of a private placement on May 4, 2026. This transaction was part of a broader $90 million repurchase agreement where the Issuer repurchased royalty certificates from SC and other shareholders, paying half in cash and half in equity. Following this acquisition, SC directly holds 3,377,494 Ordinary Shares, representing approximately 4.3% of outstanding shares and 5,499,478 voting rights (6.7% of total voting rights). Additionally, the filing notes that Kinam Hong has stepped down from the Issuerβs Board of Directors and no longer holds influence over corporate activities. The Reporting Persons maintain their holding for investment purposes and may adjust their position based on future market evaluations.