Dijon Biotech Company Inventiva Raises 348 Million to Complete Its Phase III

Inventiva, a Dijon biotech company, had raised fears of the worst, with its cash flow almost completely dried up, in a gloomy global context for financing life sciences. And Inventiva has done better than just push back the deadline by a few months. The biotech company has raised a potential of nearly €348 million, divided into several tranches, an exceptional fundraising in the French healthtech landscape (for comparison, the record set by Amolyt Pharma for 2023 was €130 million).

A move welcomed on the stock market, since the share price took off by more than 80% this morning on the Euronext market. Enough to hope to successfully complete its phase III trial evaluating its small molecule, lanifibranor, against MASH (formerly NASH), this metabolic disease which results in an excess of fat in the liver and fibrosis which can lead to its dysfunction.

Inventiva has started a long-term phase III trial on more than 1,100 patients, which is therefore particularly cash-intensive, with results expected in the second half of 2026.

Financing for Inventiva in several stages

In the meantime, Inventiva will be able to count on the different tranches of its financing, which will be done sequentially. In detail, the funds come from two main sources. The biotech company will have immediate financing of €94.1 million, in the form of new share issues. It has also obtained commitments from investors to subsequently carry out a second and third capital increase (respectively of €21 and €116 million), provided that no unforeseen event disrupts its phase III trial and that it takes place within the planned timeframe.

The third tranche may also be increased by an additional €116 million, depending on the success of this phase III trial. The financing was led by New Enterprise Associates, BVF Partners LP and Samsara BioCapital, with participation from existing and new investors, including Andera Partners, Deep Track Capital, Eventide Asset Management, Great Point Partner and Invus.

Additional participation from CCTQ

In addition, Inventiva has reviewed its agreement with CCTQ (Chia Tai-Tianqing Pharmaceutical), which owns Sino Biopharm with which a marketing agreement for the Chinese market had been signed, in 2022. Depending on the progress of Inventiva’s financing plan, CCTQ will invest an additional $10 million per tranche raised, for a total of $30 million potentially.

As is often the case, this financing operation is accompanied by changes in the biotech’s board of directors. Mark Pruzanski thus arrives as president and Srinivas Akkaraju as director. Four additional directors can be appointed by each of the four main investors.

With this large-scale financing, Inventiva is undoubtedly signing the largest fundraising of 2024. And will undoubtedly hope for the same success as Amolyt Pharma which, after having achieved the largest fundraising in 2023, was bought by AstraZeneca for a billion dollars last March.

__

(Featured image by Marek Studzinski via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in L’USINENOUVELLE. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us