(C) Inventiva S.A. 2017 Frédéric Cren, Pierre BroquaInventiva S.A. raises €48m in IPO: Boost for NASH drug development

February 14, 2017. Inventiva, a biopharmaceutical company developing innovative therapies, particularly to treat fibrosis, today announces its successful initial public offering on Compartment C of Euronext regulated market in Paris (“Euronext Paris”). The initial public offering by way of an Open Price Offering (“OPO”) and a Global Placement (“Global Placement”), enables the Company to raise €48 million by means of a capital increase (after partial exercise of the Increase Option of 6.7% (the “Increase Option”)). This amount can be increased to €50.4 million if the Over-allotment Option is exercised in full.

The Global Placement, mainly intended for institutional investors, accounted for €44.1 million, ie. 91.8% of the total number of shares allocated, while the OPO, mainly aimed at individual investors, accounted for €3.9 million, ie. 8.2% of the total of shares allocated (without the Over-allotment Option). Based on the IPO price of €8.50 per share, Inventiva’s market capitalization will amount to approximately €133.3 million upon completion of the offering.

The Increase Option, which represents 357,122 shares (ie. 6.7%), has been exercised,. The number of new shares may be increased, where appropriate, by up to 282,562 additional new shares should the Over- allotment Option granted to the Joint-Lead Managers and Joint-Bookrunners in connection with the Offering be exercised between today’s date and March 16, 2017. Trading of the shares will begin on February 15, 2017 in the form of “if-and-when-issued” shares on a trading line entitled “Inventiva - Promesses” and continue up to and including the settlement-delivery date, scheduled to occur on February 16, 2017, and will be subject to delivery of the custodian’s certificate relating to the issuing of the new shares. Subsequently, the shares will be traded on Compartment C of the Euronext Paris regulated market on a single trading line entitled as “Inventiva” (ISIN code: FR0013233012, ticker: IVA) from the start of trading on February 17, 2017.

IVA337, Inventiva’s lead product, is an anti-fibrotic treatment with a strong action mechanism permitting the activation of all three alpha, gamma and delta PPARs (peroxisome proliferator-activated receptors), which play key roles in controlling the fibrotic process. Its anti-fibrotic action targets two initial indications with substantial unmet medical need: NASH, a severe and increasingly prevalent liver disease already affecting over 30 million people in the United States, and systemic sclerosis, a disease with a very high mortality rate and for which there is no approved treatment to date.


This announcement does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in France, in the United States or in any other jurisdiction in connection with any public offering. This announcement is an advertisement and not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and of the Council of November 4, 2003, as amended (the “Prospectus Directive”).

Source: Inventiva S.A. 

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