Inventiva reports its 2022 Full-Year Results

March 29, 2023

Daix (France), Long Island City (New York, United States), March 29, 2023 – Inventiva (Euronext Paris and Nasdaq: IVA) (the “Company”), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of patients with non-alcoholic steatohepatitis (“NASH”) and other diseases with significant unmet medical needs, today reported its full-year results for 2022.

Frédéric Cren, Chairman, CEO and cofounder of Inventiva, stated: “2022 has been a successful year for Inventiva in many ways. On the clinical front, we achieved substantial progress in the development of lanifibranor starting with clearance by the FDA of our “Investigational New Drug” application for our Phase II clinical trial combining lanifibranor and empagliflozin in patients with NASH and type 2 diabetes. In China, we established a partnership with Sino Biopharm to develop and commercialize lanifibranor in Mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan. As part of this collaboration, we received an upfront payment of €12.8 million, including €1.3 million of withholding taxes for net proceeds of €11.5 million, in November 2022, and are eligible to receive up to $290 million in potential milestone payments and royalties on potential net sales of lanifibranor in China, subject to marketing approval in China.

Over the year, we also strengthened our financial position through a loan agreement of up to €50 million with the European Investment Bank, subject to completion of certain conditions2, of which we drew the first €25 million tranche in December 2022. In July 2022, we raised nearly €15 million, including more than €9 million gross proceeds through our “At-The-Market” program and loan agreements with a syndicate of French banks for a total amount of €5.3 million.

Looking forward, we are continuing our effort to implement the new design of NATiV3 which has been submitted in almost all countries involved in the study and has already been cleared in key countries including the United States. Enrollment in our investigator initiated study, led by Dr. Cusi, was completed in September and we expect the publication of this Phase II clinical study evaluating lanifibranor for the treatment of NAFLD in patients with T2D by the middle of the second quarter of 2023. Finally, both the results from our LEGEND Phase II study combining lanifibranor and empagliflozin in patients with NASH and T2D and the first visit of the last patient in our NATiV3 study, are expected in the second half of 2023.”

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Contacts

Inventiva
Pascaline Clerc

VP of Global External Affairs
media@inventivapharma.com
+1 240 620 9175

Brunswick
Yannick Tetzlaff, Tristan Roquet Montégon, Aude Lepreux
Media relations
inventiva@brunswickgroup.com
+33 1 53 96 83 83

Patti Bank
Managing Director
ICR Westwicke
Patti.Bank@westwicke.com
D 415-513-1284
San Francisco, CA
www.westwicke.com

About Inventiva
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Inventiva is a biopharmaceutical company specialized in the development of drugs interacting with nuclear receptors, transcription factors and epigenetic modulators. Inventiva’s research engine opens up novel breakthrough therapies against fibrotic diseases, cancers and orphan diseases with substantial unmet medical needs.

Lanifibranor, its lead product, is an anti-fibrotic treatment acting on the 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.

Inventiva is also developing a second clinical program with odiparcil (IVA 336) for the treatment of patients with mucopolysaccaridosis type VI (or Maroteaux-Lamy syndrome), a rare and severe gene disease affecting children. Odiparcil has also the potential to address other MPS types, characterized by the accumulation of chondroitin or dermatan sulfate (MPS I or Hurler/Sheie syndrome, MPS II or Hunter syndrome, MPS IVa or Morquio syndrome and MPS VII or Sly syndrome). Inventiva is also developing a portfolio of early research projects in the field of oncology.

Inventiva benefits from partnerships with world-leading research entities such as the Institut Curie in the field of oncology. Two strategic partnerships have also been established with world-class major pharmaceutical companies AbbVie and Boehringer Ingelheim in the fields of autoimmune diseases (specifically in psoriasis) and fibrosis respectively. These partnerships provide milestone payments to Inventiva upon the achievement of pre-clinical, clinical, regulatory and commercial milestones, in addition to royalties on the products resulting from the partnerships.

Inventiva employs over 100 employees and owns R&D facilities near Dijon, acquired from the international pharmaceutical group Abbott. The Company owns, a proprietary chemical library of over 240,000 molecules as well as integrated biology, chemistry, ADME and pharmacology platforms.

Important Notice
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This press release contains forward-looking statements, forecasts and estimates with respect to the clinical development
plans, business and regulatory strategy, and anticipated future performance of Inventiva and of the market in which it operates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will” and “continue” and similar expressions. Such statements are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management”s beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements. Actual events are difficult to predict and may depend upon factors that are beyond Inventiva”s control.

There can be no guarantees with respect to pipeline product candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. Therefore, actual results may turn out to be materially different from the anticipated future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of this press release. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Please refer to the “Document de référence” filed with the Autorité des Marchés Financiers on April 13, 2018 under n° R.18-013 for additional information in relation to such factors, risks and uncertainties.

Inventiva has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently, Inventiva accepts no liability for any consequences arising from the use of any of the above statements.