Biopharmaceutical firm Inventiva (NASDAQ:IVA) Thursday announced a €35.7 million raise consisting of a capital increase and issuance of royalty certificates.
The capital increase would be reserved for specified categories of investors for €30.59 million via an issue of 9.62 million shares valued at €0.01 a piece.
The financing also entailed the issuance of royalty certificates for an amount of €5.1 million.
The company said the capital raise would fund its phase III evaluation of lanifibranor used in the treatment of patients suffering from NASH.
In addition to the recent raise, the Inventive also planned to extend its expected financing horizon via further issuance of equity or debt securities and the sale of ADSs under the At-the-Market financing program, among others.
“To cover its obligations until the end of August 2024, based on its current business plan, the company estimates that its additional cash requirements will amount to €80.0 million,” Inventiva added.
Source: Press Release