(BFM Stock Exchange) – The Lyon Economic Activities Tribunal pronounced, Wednesday, June 11, the compulsory liquidation of the Biopharmaceutical Company. The Phaxiam Therapeutics action will soon be struck off on the side.

End of game for Phaxiam Therapeutics. The Lyon Economic Activities Tribunal pronounced, Wednesday, June 11, the compulsory liquidation of the biopharmaceutical company specializing in the development of innovative treatments for resistant bacterial infections.

The company had been in receivership since March 6, 2025. Phaxiam had asked to place itself under the protection of commercial justice, citing “an extremely difficult financing context for biotechs and side caps”.

At the end of January, the company claimed cash and cash equivalents of 3.6 million euros on December 31, 2024. Phaxiam also said it was active and non-dilutive funding for an extension of its financial horizon beyond March 2025.

But this research was in vain for Phaxiam, who said that he had carried out “several unsuccessful refinancing initiatives”. This has placed it in a “impasse of financing”, and therefore drastically limited its cash horizon.

No reimbursement of shareholders

As part of this receivership procedure, two offers were filed but could not lead to the resumption of the assets of Phaxiam. This impasse has led the Lyonnaise commercial justice to pronounce the compulsory liquidation of the company Biopharmaceutique.

Phaxiam had already warned its shareholders of this outcome, whether a takeover offer be adopted by the court or not.

“As a reminder, whether a takeover offer is adopted or not, the Lyon economic activity court will necessarily pronounce the compulsory liquidation of the company soon ‘, had warned Phaxiam on April 24 in a press release.

This liquidation will have consequences for shareholders. The Company will soon ask Euronext a radiation from its shares, which specifies that no reimbursement of shareholders can be made.

“Given the level of debt of the company, the sale products received in the event of an offer of an offer will probably not allow a reimbursement of shareholders”, had also warned Phaxiam at the end of April.

It is therefore the end of the stock market adventure which is looming for the company born of the merger in 2023 of the ERYTECH Pharma and Pherecydes Pharma groups.

The merger of the two French companies aimed to give birth to a world leader in extended phagotherapy and to accelerate the development of a portfolio of Phages candidates targeting pathogenic bacteria. This company wanted to respond to “the huge medical need caused by antibiotic resistance”.

Phaxiam will join Acticor Biotech, another company in the Universe of Health which was struck off in January 2025, for the same reason for compulsory liquidation.