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Inventiva raises €48m in Euronext IPO

Inventiva headquarters, © Inventiva

Raising €48m by the sale of 5.7 million shares at €8.50, French Inventiva S.A. is set to secure capital to further its late-stage products until H1/2019.

The IPO at Euronext regulated market in Paris will give the drugmaker a market capitalisation of €133.3m upon completion of the offering. The IPO by way of an Open Price Offering (OPO) and a Global Placement enables the fibrosis specialist to raise €48m by means of a capital increase, and could increase to €50.4m if the over-allotment option is exercised in full. The Global Placement, mainly intended for institutional investors, accounted for €44.m, ie. 91.8% of the total number of shares allocated, while the OPO, mainly aimed at individual investors, accounted for €3.9m, ie. 8.2% of the total of shares allocated

„By raising these funds, Inventiva will pursue the development of its various pre-clinical and clinical programs — in particular IVA337 and IVA336 — to help address diseases with high unmet medical needs, such as NASH, systemic sclerosis and Maroteaux-Lamy syndrome (MPS),” said Pierre Broqua, Chief Scientific Officer and Co-founder of Inventiva.

The Daix-based fibrosis specialist runs partnerships with Abbvie and Boeringer Ingelheim in fibrosis and autoimmune diseases. Futhermore, Inventiva proprietary pipeline includes the Phase IIb candidate IVA337, an agonist of the peroxisome proliferator-activated receptor (PPAR) to treat NASH and the Phase I/II candidate IVA to treat MPS. The company’s three preclinical assets target different cancers. The capital will be used to develop IVA227 until proof-of-concept for liver (NASH)and skin fibrosis (SSC) , and to pursue the clinical development of IVA336 in MPS.