Inventiva, a Phase 2 French biotech developing therapies for NASH and other diseases, announced terms for its IPO on Monday.
The Daix, France-based company plans to raise $102 million by offering 7.5 million ADSs at $13.68, the as-converted last close of its shares on the Euronext Paris (IVA) where it has a market cap of $436 million. At the proposed deal size, Inventiva would command a fully diluted market value of $531 million.
The company's lead candidate, lanifibranor, is an oral small molecule therapy for the treatment of NASH. The company announced positive topline results from its NATIVE Phase 2b trial for lanifibranor, and end of Phase 2b meetings are expected in the 4Q20.
Inventiva was founded in 2011 and booked $11 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol IVA. Jefferies, Stifel, Guggenheim Securities, and H.C. Wainwright are the joint bookrunners on the deal. It is expected to price during the week of July 6, 2020.
