Investment with Vision: Inventiva Strengthens Phase 3 Trial with Multi-Million Financing

The stock of the French biotechnology company Inventiva jumped on Monday, highlighted by an impressive trading volume of 8.55 million – a significant increase compared to the average volume of 9.91 thousand, as data from Benzinga Pro shows. The company recently secured immediate financing of 94.1 million euros and plans to eventually increase this to up to 348 million euros. This capital will support the completion of the Phase 3 study NATiV3 for the drug Lanifibranor. Additionally, preparations for a possible market approval and commercial use of the drug are planned. The transaction was led by renowned investors such as New Enterprise Associates, BVF Partners, and Samsara BioCapital. Both existing and new investors participated in the capital injection. As part of this financing round, which must be approved by the shareholders at the next general meeting by no later than December 16, 2024, Mark Pruzanski was appointed as chairman and Srinivas Akkaraju as director. Furthermore, the four largest investors have the right to appoint up to four additional directors, of whom at least two must be independent. Inventiva estimates that prior to the transaction, about 250 million euros would be needed to finance activities until the main results of their NATiV3 study, scheduled for the second half of 2026. In the next twelve months alone, a financial requirement of approximately 130 to 135 million euros is expected. In February, Inventiva halted the enrolment of new patients in the NATiV3 Phase 3 study due to a severe side effect with elevated liver enzymes in a patient. This pause in the study was lifted in March, and the sites are conducting screening activities again.