MaaT Pharma, the leading microbiome company in oncology

We are the first company developing microbiome-based drugs listed on the regulated market of Euronext Paris.

Stock information

  • IPO date: November 8, 2021
  • Denomination: MaaT Pharma
  • ISIN code/ticker: FR0012634822 / MAAT
  • ICB classification: 20103010 – Biotechnology
  • Listing market: Euronext Paris regulated market
  • Eligible for the PEA and PEA-PME schemes and for the 150-0 B ter scheme of the CGI
  • Analysts covering the share:
    • Gilbert Dupont Groupe Société Générale :  Pierre-Alexandre Desir & Guillaume Cuvillier
    • KBC Securities: Thomas Vranken & Jacob Mekhael
    • Kempen: Suzanne van Voorthuizen & Luísa Morgado
    • Kepler Cheuvreux: Christophe Dombu
    • Portzamparc Groupe BNP Paribas: Mohamed Kaabouni
    • Stifel: Clémence Thiers & Eric Le Berrigaud

Download our corporate presentation

Board of Directors

Karim Dabbagh

Chairman of the Board – Independent director

Karim Dabbagh, PhD, was appointed Chairman and independent Director of MaaT Pharma in June 2023, succeeding Jean-Marie Lefevre who will continue to serve as a Board member.
Based in the U.S., Karim Dabbagh, president and CEO of Second Genome Inc., renowned for his innovative work in microbiome science and former executive at Pfizer and Roche, brings extensive experience in pharmaceutical development.

PhD in Biochemistry from University College, London
BSc (Hons) in Biotechnology from Imperial College, London

Jean-Marie Lefevre

Non-Executive Director

Jean-Marie Lefèvre is a member of the Audit Committee and a non executive director at MaaT Pharma.
Jean-Marie Lefèvre has held senior manage-ment positions in large companies such as LVMH and Bongrain before joining Biocodex where he was Chairman and CEO until the end of 2020 and of which he is currently Chairman. During his ten-ure as CEO at Biocodex, he initiated the creation of numerous subsidiaries, and greatly diversified the product portfolio of the Biocodex Group. At the same time, he wanted his Group to invest in and support the development of healthcare start-ups, including MaaT Pharma.

Engineering degree Ecole Centrale Paris, MBA from Insead

Dorothée Burkel

Independent Director

Dorothée Burkel holds a Master's degree from the Institut d'Etudes Politiques in Paris and is an independent director on the board of Directors. She is also Director of Human Resources, Information Systems and Communication and a member of the Executive Committee of PartnerRe. She brings decades of high-level experience in human resources and communication, having participated in the transformation of companies at an international level in the new technology and financial sectors.
She was formerly HR Director EMEA at Google and HR Director France at AOL.

Chief Corporate and People Operations Officer

Hervé Affagard

CEO, Founder

Hervé Affagard is the CEO and founder of MaaT Pharma. For the past 15 years, Hervé has been an intra/entrepreneur in the healthcare industry, after starting his career in IT in the steel industry. He founded MaaT Pharma in late 2014 together with onco-hematologist Prof. Mohammad Mohty and microbiologist Dr. Joël Doré, after a professional career that spanned multiple industries. Hervé has led MaaT Pharma’s development from its early concept in 2013 and has been at the forefront of the development of the microbiome healthcare ecosystem in France and Europe. Hervé is also a board member for the French biotech industry association, France Biotech and an active contributor to Allliance Promotion Microbiote, an organization recently founded to support the microbiome sector development in France.

Engineer, MBA,

Jean Volatier

Independent Director

Jean Volatier is a graduate of the Magistère en Sciences de Gestion de l'Universtité Paris IX Dauphine (PSL), of the D.E.S.C.F. and of the Master en Executive Mangement Globale RSE de Mines Paris Tech (PSL) and is an independent director on the Board of Directors. Jean Volatier is currently CFO at Inventiva. Prior to that, he started his career at Pricewaterhouse Coopers in Paris and Philadelphia. He then moved to different positions in the Finance Department, first at Laboratoires URGO Soins & Santé and then internationally at Laboratoires Fournier, before holding different positions as CFO at the Soufflet and NAOS groups.


Muriel Prudent

Non-Executive Director

Muriel Prudent is an Investor at Bpifrance, French public investment bank, managing a portfolio of health- and other deeptech startups within the PSIM Fund, which focuses on major tech disruptions.
Graduated from HEC Paris and Bocconi University in Milan

Dr. Claude Bertrand

Independent Director

Claude joined MaaT Pharma as an independent board member in July 2020. Since 2017, Claude has held the position of Executive Vice President of R&D and Chief Scientific Officer at Servier. He brings decades of high-level leadership in pharmaceutical R&D, having previously served as Executive Vice-President of R&D at Ipsen Pharma and as Global Senior Vice President for Respiratory & Inflammation Research Area at AstraZeneca. His career also includes senior positions at Novartis, Roche and Pfizer.

PharmD, PhD

Isabelle de Crémoux

Non-Executive Director

Isabelle de Crémoux is CEO and Managing Partner of Seventure Partners and leads the Life Sciences team. She joined Seventure in 2001 to establish the Life Sciences division. Isabelle supervises the Life Sciences business and personally invests in French and Scandinavian and north American biotech, nutrition, healthcare, personalized medicine. Isabelle has a particular interest in the microbiome field and frequently gives lectures at conferences in this domain. As a visionary, she launched Health for Life Capital™, the first European investment vehicle to support the microbiome revolution. Prior to joining Seventure Partners, she worked at Arthur Andersen/ EY, Pfizer and Laboratoires Fournier.

Engineering degree from Ecole Centrale Paris

Nadia Kamal

Independent Director

Nadia Kamal, PhD, Director of the Technology, Health, and Innovation Divisions at Harmonie Mutuelle, has been appointed in June 2023 as independent director and Chair of the ESG committee. Nadia brings a wealth of experience in Corporate Social Responsibility and a strong background in serving patients and fostering innovation.

Doctorate in immuno-analysis and innovation in clinical biology - Sanofi Diagnostics Pasteur / CNRS
Master's degree in Business Administration from IAE Poitiers
Artificial Intelligence in Health University Diploma at Université Paris Cité

Events & Presentations



  • December 18th, 2023- KOL discussion on data presented at ASH 2023 Annual Meeting
Download the presentation


2021 – Financial Annual Report – Only in French

General Meetings

CSR at MaaT Pharma


Provisional financial calendar*


  • September 19, 2024: Publication of half year financial results H1
  • November 5, 2024: Publication of revenues for Q3 2024

*Indicative calendar could be subject to change.

Investor contact

Guilhaume Debroas, PhD.
Head of Investor Relations
Phone: +33 (0) 6 16 48 92 50

MaaT Pharma
70 avenue Tony Garnier
69007 Lyon