Abivax SA (ABVX) on Tuesday launched an underwritten public offering of approximately $600 million of its American Depositary Shares, with an option for underwriters to purchase up to an additional 15% of the offered shares.

Proceeds will be used primarily to fund potential commercialization of lead drug candidate obefazimod in the United States, clinical research and development for ulcerative colitis and Crohn's disease, and general corporate purposes, the company said.