Invus Public Equities, L.P. and affiliated entities filed Amendment No. 3 to a Schedule 13G with the SEC on November 12, 2026, disclosing beneficial ownership positions in DBV Technologies S.A. as of September 30, 2026.

Key Highlights

  • Lead filer: Invus Public Equities, L.P., a Bermuda limited partnership, reported beneficial ownership of 23,095,116 ordinary shares, representing 7.3% of DBV Technologies S.A.
  • Individual reporting person: Raymond Debbane reported aggregate beneficial ownership of 24,716,176 ordinary shares, representing 7.9% of the class.
  • Share composition: Invus Public Equities holds 12,933,481 ordinary shares and 2,032,327 American Depositary Shares, each ADS representing five ordinary shares, totaling 23,095,116 ordinary shares.
  • Avicenna fund stake: Avicenna Life Sci Master Fund LP holds 324,212 ADSs, totaling 1,621,060 ordinary shares, representing 0.5% of the class.
  • Voting and dispositive power: Each reporting entity or person reported sole voting and sole dispositive power over their respective share totals, with no shared voting or dispositive power.
  • Triggering date: The event requiring this filing occurred on September 30, 2026.

Invus Group and Affiliates Detail DBV Technologies Holdings in Amendment No. 3

According to the filing, eight reporting persons submitted Amendment No. 3 to Schedule 13G covering ordinary shares of DBV Technologies S.A. (CUSIP 23306J309), whose ordinary shares carry a nominal value of Euro 0.10 per share. The filing covers positions as of September 30, 2026, and was submitted by entities and an individual connected to the Invus Group, all sharing a principal address at 750 Lexington Avenue, 30th Floor, New York, NY 10022.

The filing discloses that Invus Public Equities, L.P. is the direct holder of 12,933,481 ordinary shares and 2,032,327 ADSs. Because each ADS represents five ordinary shares, the ADS position converts to 10,161,635 ordinary shares, and the filing states the total ordinary share equivalent is 23,095,116. Three affiliated entities, Invus Public Equities Advisors, LLC, Invus Global Management, LLC, and Siren, L.L.C., each also report beneficial ownership of the same 23,095,116 shares at 7.3% of the class, consistent with their roles in the ownership structure.

Raymond Debbane, identified as a reporting person with citizenship in Panama, reports the largest aggregate total disclosed in the filing: 24,716,176 ordinary shares, or 7.9% of the class. The filing notes this figure combines the Invus Public Equities position and the Avicenna Life Sci Master Fund LP position of 324,212 ADSs (1,621,060 ordinary shares). Avicenna Life Sci Master GP LLC and Ulys, L.L.C., both Delaware entities, each also report the 1,621,060 Avicenna Fund share total at 0.5% of the class. No shared voting or dispositive power is reported by any of the eight filers.

What Was Disclosed

Eight affiliated reporting persons amended their Schedule 13G to disclose beneficial ownership in DBV Technologies S.A. as of September 30, 2026. The largest aggregate position, reported by Raymond Debbane, totals 24,716,176 ordinary shares, representing 7.9% of the class.