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Benzinga
Benzinga
Technology
Vandana Singh

Inventiva Raises €50M Debt Financing To Fund Its Lead Program In NASH Patients

IVA European Investment Bank Nasdaq Clinical Trial
  • Inventiva (NASDAQ:IVA) has signed a €50 million bullet credit facility agreement with the European Investment Bank.
  • The company plans to use the facility for its preclinical and clinical pipeline, including to help fund a portion of its Phase 3 clinical trial of lanifibranor in patients with non-alcoholic steatohepatitis (NASH).
  • Related: Inventiva Posts Results of Clinical Thorough QT Study Of Lanifibranor.
  • The facility is divided into two tranches of €25 million each. The disbursement of Tranche A is subject to the completion of certain conditions precedent specified in the credit facility agreement. 
  • Tranche B is subject to the full drawdown of Tranche A and the achievement of certain conditions precedents. 
  • It is expected that the reimbursement of the interests and capital of this credit facility will happen after the publication of the headline results of part 1 of the Phase 3 trial of lanifibranor in patients with NASH, expected in 2H 2024. 
  • Price Action: IVA shares are up 3.40% at $9.10 during the market session on the last check Monday.
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