Biophytis sets $20M Asia JV to fund Phase 3 BIO101

Biophytis SA (BPTSY) outlines progress on its Hong Kong joint venture, Biophytis Biopharmaceutical Holding LTD, created to develop and commercialize BIO101 for sarcopenia in China, Japan, and South Korea.

Rhea-AI Filing Summary

Biophytis SA (BPTSY) outlines progress on its Hong Kong joint venture, Biophytis Biopharmaceutical Holding LTD, created to develop and commercialize BIO101 for sarcopenia in China, Japan, and South Korea. Partners are finalizing initial contributions, expected to be completed by end of September 2026, subject to administrative approvals.

Biophytis will contribute BIO101-related patents in China, Japan, and South Korea and sign a license through which the joint venture will pay single-digit royalties on future sales. Asian partners will fund the joint venture with up to $20 million over three years, including $10 million in the first year and an initial $3 million tranche concurrent with IP contribution and licensing.

Biophytis and its founders will hold 29% of the joint venture and the Asian consortium 71%, with a five-member board (three Biophytis-side, two partners). Funding is expected to cover most costs of the SARA-31 Phase 3 trial in sarcopenia, enrolling 942 patients across China, Japan, and Europe, targeting conditional marketing authorizations in Asia and the EU.

Positive

• Up to $20 million JV funding from Asian partners, including $10 million in year one and $3 million at establishment, is expected to cover most SARA-31 Phase 3 trial costs, reducing the need for Biophytis to fund this program directly.
• The joint venture structure provides non-dilutive economics for Biophytis through a 29% equity stake plus single-digit royalty payments on BIO101 sales in China, Japan, and South Korea.

Negative

• None.

Filing Explained

The filing reports that SARA-31 has approval to begin in Europe and the United States, but China and Japan still require regulatory approvals, so the study’s start there remains pending those decisions.

Key Figures

Total JV funding commitment: up to 20 million U.S. dollars First year funding: 10 million U.S. dollars Initial funding tranche: 3 million U.S. dollars +5 more

8 metrics

Total JV funding commitment up to 20 million U.S. dollars Asian partners’ total financial commitment to the joint venture over three years

First year funding 10 million U.S. dollars Portion of the total commitment expected within the first twelve months

Initial funding tranche 3 million U.S. dollars First tranche to be paid upon establishment of the joint venture and IP/licensing steps

Biophytis equity stake in JV 29% Equity interest held by Biophytis and its founders in the joint venture

Asian partners equity stake in JV 71% Equity interest held by the consortium of Asian partners in the joint venture

SARA-31 Phase 3 enrollment 942 patients Total patients in the multicenter sarcopenia trial across China, Japan, and Europe

China enrollment in SARA-31 642 patients Patients to be enrolled in China under the responsibility of the joint venture

Japan enrollment in SARA-31 90 patients Patients to be enrolled in Japan under the responsibility of the joint venture

Key Terms

joint venture, sarcopenia, Phase 3 clinical trial, conditional marketing authorization, +2 more

6 terms

joint venture financial

"Biophytis provides an update on the rollout of its joint venture in Hong Kong"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

sarcopenia medical

"BIO101 for sarcopenia in Asian markets"

Phase 3 clinical trial medical

"SARA-31 multi-regional Phase 3 clinical trial until BIO101 receives"

A phase 3 clinical trial is a large-scale study that tests a new medical treatment or drug to determine if it is safe and effective for widespread use. It often involves hundreds or thousands of participants and compares the new treatment to existing options or a placebo. For investors, the results of this phase are crucial, as successful outcomes can lead to regulatory approval and commercial success, while failures may halt development.

conditional marketing authorization regulatory

"aimed at obtaining conditional marketing authorization for BIO101"

A conditional marketing authorization is a limited, temporary approval from a drug regulator that lets a medicine or vaccine be sold based on earlier or smaller amounts of safety and effectiveness data than normally required, usually because the treatment addresses a serious unmet need. It matters to investors because it can allow a company to start generating revenue sooner—like a provisional driver’s license—while carrying higher regulatory and clinical risk if follow‑up studies fail or additional data are required.

royalties financial

"the joint venture will pay Biophytis royalties at a single-digit rate"

Payments made to the owner of an asset or intellectual property each time that asset is used or a product is sold, often calculated as a percentage of sales or a set amount per unit. Royalties matter to investors because they create predictable, ongoing income streams and affect a company’s cash flow and valuation—like a landlord collecting rent or an author getting a steady cut whenever a book is sold.

intellectual property portfolio technical

"Biophytis will contribute to the joint venture a portion of its intellectual property portfolio"

A collection of a company’s legally recognized creations and rights—such as patents, trademarks, copyrights, trade secrets and licensing agreements—that together protect its products, brands and technologies. Think of it as the company’s toolbox or recipe box: some items keep competitors out, some can be rented or sold, and some enable unique products. For investors, the breadth and strength of this portfolio affect future revenue potential, competitive position and legal risk, so it influences valuation and investment decisions.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the purpose of Biophytis SA (BPTSY)'s Hong Kong joint venture?

The joint venture, Biophytis Biopharmaceutical Holding LTD, aims to accelerate development and commercialization of BIO101 for sarcopenia in China, Japan, and South Korea, including running the multi-regional SARA-31 Phase 3 trial and pursuing conditional marketing authorizations in Asia and Europe.

How much funding will Biophytis SA (BPTSY) receive through the joint venture?

Asian partners have committed up to $20 million over three years, including $10 million in the first year and an initial $3 million tranche paid to the joint venture upon IP contribution and license signing, expected to cover most SARA-31 Phase 3 trial costs.

What ownership stake does Biophytis SA (BPTSY) have in the Hong Kong joint venture?

Biophytis and its founders will hold 29% of the joint venture’s capital, while the consortium of Asian partners will hold 71%. Governance is via a board of five directors, including three from Biophytis and its founders and two from the partner consortium.

How will Biophytis SA (BPTSY) benefit economically from BIO101 sales in Asia?

Biophytis will license certain BIO101 patents for China, Japan, and South Korea to the joint venture and receive single-digit royalties on future sales in those territories, in addition to its 29% equity interest in the joint venture.

What are the key features of the SARA-31 Phase 3 trial mentioned by Biophytis SA (BPTSY)?

The SARA-31 Phase 3 sarcopenia trial will enroll 942 patients: 642 in China, 90 in Japan under the joint venture, and 200 in Europe coordinated by Biophytis. Approvals to begin have been obtained in Europe and the US, with China and Japan approvals pending.

When does Biophytis SA (BPTSY) expect initial joint venture contributions to be completed?

Biophytis anticipates completion of initial contributions, including IP transfer and licensing arrangements, in the coming weeks, with a stated outside timing of end of September 2026, subject to administrative approvals.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Available on EDGAR 08/26/2026 - 12:09 PM EDT Accepted by SEC EDGAR 08/26/2026 - 12:08 PM EDT Learn about SEC filing dates

UNITED STATES SECURITIES

AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date of report: August 26, 2026

Commission File Number: 001-38974

BIOPHYTIS S.A.

(Translation of registrant’s name into English)

Stanislas Veillet
Biophytis S.A.

Sorbonne University—BC 9, Bâtiment A 4ème étage

4 place Jussieu

75005 Paris, France

+33 1 44 27 23 00

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

x Form 20-F ¨ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

On August 3, 2026, Biophytis S.A. issued a press release providing an update on the roll-out of its joint-venture in Hong Kong. A copy of the press release is attached as Exhibit 99.1 to this Form 6-K.

EXHIBIT LIST

Exhibit		Description
99.1		Press Release dated August 3, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BIOPHYTIS S.A.
Date: August 26, 2026	By:	/s/ Stanislas Veillet
		Name: Stanislas Veillet
		Title: Chairman and Chief Executive Officer

Exhibit 99.1

BIOPHYTIS PROVIDES AN UPDATE AND SHARE STRATEGIC DRIVERS SUPPORTING ITS HONG KONG JOINT VENTURE

Paris (France) and Cambridge (Massachusetts, U.S.), August 03, 2026, at 07:00am CET – Biophytis SA (Euronext Growth Paris: ALBPS), (“Biophytis” or the “Company”), a biotechnology company pioneering the development of transformative therapies for longevity, provides an update on the rollout of its joint venture in Hong Kong (see details in the “About” section below) and shares its short- and medium-term outlook.

Landmark milestones achieved and imminent progress

The creation of the joint venture Biophytis Biopharmaceutical Holding LTD, announced on June 2, 2026, paves the way for the full implementation of the agreement signed in January 2026. Discussions regarding the formalization of the partners’ initial contributions are progressing steadily, and Biophytis anticipates their completion in the coming weeks, subject to administrative approvals, by end of September 2026 at the latest.

1. Transfer of intellectual property and signing of a license agreement: Biophytis will contribute to the joint venture a portion of its intellectual property portfolio, comprising patents related to the development of BIO101, obtained in China, Japan, and South Korea. In addition, Biophytis and Biophytis Biopharmaceutical Holding LTD will enter into a licensing agreement covering these three territories. Under the terms of this agreement, the joint venture will pay Biophytis royalties at a single-digit rate on future sales.

2. Payment of the first tranche of funding: Concurrent with the contribution of the intellectual property and the signing of the licensing agreement, the Asian partners will pay the joint venture an initial tranche of 3 million U.S. dollars. This tranche is part of a total financial commitment of up to 20 million U.S. dollars, including 10 million in the first year.

3. Preparation of the Phase 3 clinical trial for sarcopenia: The next step is to obtain authorization from the NMPA to initiate the clinical trial in China; authorization has already been obtained in Europe. The financial commitment from Biophytis’ Asian partners is expected to cover the majority of the estimated cost of the SARA-31 multi-regional Phase 3 clinical trial until BIO101 receives market authorization in China and EU.

Stanislas Veillet, Chairman and CEO of Biophytis, stated: “The coming weeks will be decisive for advancing our ambitions in the field of sarcopenia, with an initial contribution of intellectual property, the signing of the licensing agreement, and the payment of the first tranche of funding. These developments perfectly illustrate our strategy: to develop BIO101 internationally by relying on strong regional partners, and to finance our clinical programs without diluting our shareholders. This approach creates value for Biophytis, its partners, and all of its stakeholders.”

* * *

About Biophytis Biopharmaceutical Holding LTD

Biophytis Biopharmaceutical Holding LTD is a joint venture designed to accelerate the development and commercialization of BIO101 for sarcopenia in Asian markets. It brings together Biophytis and a consortium of Asian partners, including Ronghui Renhe Life Technology, a leading Chinese conglomerate primarily involved in the manufacture and distribution of healthcare products. The joint venture’s geographic scope covers China, South Korea, and Japan — markets where an aging population makes the medical need related to sarcopenia particularly acute and where no approved treatment currently exists.

As part of this joint venture, Biophytis is contributing its intellectual property related to BIO101, while the Asian partners have committed to investing up to 20 million U.S. dollars over three years, including 10 million U.S. dollars expected within the first twelve months and 3 million U.S. dollars upon the establishment of the joint venture.

In terms of equity distribution, Biophytis and its founders hold 29% of the new entity’s capital, and the consortium of Asian partners holds 71%. Governance is based on a board of directors composed of three representatives from Biophytis and its founders and two representatives from the consortium of partners, ensuring collaborative decision-making and combined expertise.

At the heart of this collaboration is the international Phase 3 clinical trial SARA-31, aimed at obtaining conditional marketing authorization for BIO101 for the treatment of sarcopenia in both Asia and Europe. This multicenter trial will include 942 patients: 642 patients in China and 90 patients in Japan, under the responsibility of the joint venture, and 200 patients in Europe, under the direct coordination of Biophytis. Approval to begin this Phase 3 trial has already been obtained in Europe and the US; the study will begin as soon as regulatory approvals are obtained in China and Japan.

About Biophytis

Biophytis SA is a clinical-stage biotechnology company focused on developing drug candidates for age- related diseases. BIO101 (20-hydroxyecdysone), our lead drug candidate, is a small molecule in development for muscular diseases (sarcopenia, Phase 3 ready to start) and metabolic disorders (obesity, Phase 2 ready to start). The company is headquartered in Paris, France, with subsidiaries in Cambridge, Massachusetts, USA, and Brazil. The Company’s ordinary shares are listed on Euronext Growth Paris (ALBPS - FR001400OLP5) and its ADS (American Depositary Shares) are listed on the OTC market (BPTSY - US 09076G401). For more information, visit www.biophytis.com.

Biophytis Contact

Investor relations

investors@biophytis.com

Media relations

Antoine Denry: antoine.denry@taddeo.fr – +33 6 18 07 83 27

Nizar Berrada: nizar.berrada@taddeo.fr – +33 6 38 31 90 50

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 11.1 KB