ADVICENNE: directors' dealings · France · AMF

About ADVICENNE

Advicenne is a French specialty pharmaceutical company focused on the development and commercialization of innovative treatments for rare kidney diseases. Listed on Euronext Growth Paris under the ticker ALDVI and ISIN FR0013296746, the company was founded in Nîmes in 2007 by Dr. Luc-André Granier and Caroline Roussel-Petit. Its business model is that of a niche rare-disease specialist, targeting severe conditions with high unmet medical need in both pediatric and adult patient populations. The company is now headquartered in Paris and operates with teams in France and the United States, reflecting its increasingly international scope. Advicenne’s core asset is ADV7103, marketed in Europe under the brand name Sibnayal®. The product is a prolonged-release fixed-dose combination of potassium citrate and potassium bicarbonate designed to treat distal renal tubular acidosis (dRTA), a rare chronic kidney disorder. Sibnayal® received European marketing authorization in 2021, a major milestone that validated the clinical and regulatory strategy of the company. Advicenne is also developing the same asset in cystinuria, another rare renal disease, and has advanced regulatory and clinical work in both Europe and the United States. In November 2025, the group filed its U.S. registration application with the FDA for Sibnayal® in dRTA, underscoring its ambition to expand from a European commercial-stage niche player into a transatlantic rare-disease platform. Commercially, Advicenne has been building momentum through the gradual rollout of Sibnayal® across Europe, with end-market sales rising strongly in 2025. In addition to direct sales, the company also generates partnership-related income, which helps broaden revenue sources while reducing full dependence on direct commercialization. At the same time, Advicenne remains in an investment-heavy phase, with substantial spending directed toward R&D, regulatory submissions and U.S. preparation. This is typical for a rare-disease pharmaceutical company, where the path to value creation depends on clinical differentiation, reimbursement access and successful market authorizations rather than broad-volume sales. Geographically, Advicenne is primarily established in Europe, with sales in France, the wider European region and the Middle East, while its next major growth catalyst is the U.S. market. The company remains relatively small in financial scale, but it has built a differentiated profile through its focus on rare kidney disorders and its proprietary formulation expertise. Its recent financial disclosures also show an improving commercial trajectory, alongside a still-constrained liquidity profile that keeps financing and regulatory milestones central to the investment case.