French NASH biotech Inventiva sets terms for $102 million US IPO

Oil sees largest inventory draw since July

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.

The article French NASH biotech Inventiva sets terms for $102 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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