24/7 Market News- Inventiva Seeks to Advance NATiV3 Phase 3 MASH study with New Funding Deal

October 14, 2024

DENVER, Colo., Oct 14, 2024 (247marketnews.com)- Inventiva (NASDAQ: IVA) reported securing €94.1 million (~$102.8 million) and up to €348 million (~$380 million), subject to satisfaction of specified conditions, to fund the completion of the Phase 3 NATiV3 MASH trial and preparation for the potential filing for marketing approval and commercialization of lanifibranor.

Frederic Cren, Inventiva’ CEO, commented, “I am very pleased to announce this important financing at a critical juncture for the Company. This reflects the confidence of the participating investors and our partner CTTQ in the value of lanifibranor as a breakthrough therapy for patients suffering from MASH. The total proceeds from the financing will support the MASH program and subsequent filing for marketing approval, along with preparations for the potential commercialization of lanifibranor. I would also like to highlight the benefit Mark’s deep expertise in the MASH field brings and look forward to working with him to ensure the best chance of getting lanifibranor to patients.”

Dr. Nezam (“Nid”) Afdhal, Chief of Gastroenterology, Beth Israel Deaconess Medical Center, Professor of Medicine, Harvard Medical School, added, “Investigators and clinicians remain excited about the prospect of lanifibranor in MASH due to its effect on improving both fibrosis and resolution of MASH. PPAR agonism with lanifibranor has also been demonstrated to improve the metabolic profile and cardiovascular risk factors in our patients with MASH. This dual benefit has the potential to identify lanifibranor as an optimal choice for patients with MASH, significant fibrosis, and diabetes.” 

The €94.1 million tranche entails the issuance of 34,600,507 new ordinary shares, at a price of €1.35 per share and 35,399,481 prefunded warrants.

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