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GENFIT TOWARDS BETTER MEDICINE PRESS RELEASE On heels of global strategic partnership announced today , GENFIT acquires rights to novel asset ■ ■ Exclusive rights for a novel early - stage asset acquired from Genoscience Pharma in cholangiocarcinoma in the United States , Canada and Europe Phase 2 clinical program expected to start in 1H 2022 Agreement comes on the heels of today's other announcement of a long - term global strategic partnership with Ipsen including an exclusive licensing agreement for elafibranor , a Phase 3 asset currently evaluated in Primary Biliary Cholangitis Lille , France ; Cambridge , MA ; December 17 , 2021 - GENFIT ( Nasdaq and Euronext : GNFT ) , a late - stage biopharmaceutical company dedicated to improving the lives of patients with metabolic and chronic liver diseases , is pleased to announce the strengthening of its cholestatic disease franchise through the acquisition of exclusive rights from Genoscience Pharma to develop and commercialize the investigational treatment GNS561 in cholangiocarcinoma in the United States , Canada and Europe , including the United Kingdom and Switzerland . This announcement comes on the heels of today's other announcement on our global strategic pharma partnership . GNS561 is a novel clinical - stage autophagy / PPT1 inhibitor developed by Genoscience Pharma and cholangiocarcinoma is an orphan disease . It has completed pre - clinical studies and a Phase 1b trial confirming the rationale for targeting cholangiocarcinoma , a rare liver malignancy with high mortality and with limited treatment options . Under the agreement , Genoscience Pharma is eligible for clinical and regulatory milestone payments and tiered royalties . The first payable milestone is contingent on positive Phase 2 clinical trial results . GENFIT is also committed to take a € 3 million equity stake in Genoscience Pharma through the subscription of new ordinary shares . Pascal Prigent , CEO of GENFIT , stated : " This licensing agreement with Genoscience Pharma comes as an immediate follow - up to the global strategic partnership announced today . Proceeds from this strategic agreement will strengthen the trajectory of our long - term growth and pipeline expansion , which is exemplified by the acquisition of GNS561's rights in cholangiocarcinoma . This decision fully aligns with our strategic roadmap by broadening our asset portfolio within our cholestatic disease franchise through GENFIT | 885 Avenue Eugène Avinée , 59120 Loos - FRANCE | +333 2016 4000 | www.genfit.com 1