Inventiva secures a €50 million credit facility from the European Investment Bank
Daix (France), Long Island City (New York, United States), May 16, 2022 – 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 announced the signing of a €50 million bullet credit facility agreement with the European Investment Bank (“EIB”). The Company plans to use the facility toward its preclinical and clinical pipeline, including to help fund a portion of its Phase III clinical trial of lanifibranor in patients with NASH.
The facility is divided into two tranches of €25 million each. The disbursement of the first tranche (“Tranche A”) is subject to the completion of certain conditions precedent specified in the credit facility agreement. The second tranche (“Tranche B”) is subject to the full drawdown of Tranche A in addition to the achievement of certain conditions precedents. The maturity date of any borrowings under the facility is four years after disbursement of Tranche A and three years after disbursement of Tranche B. It is therefore expected that the reimbursement of the interests and capital of this credit facility will happen after the publication of the headline results of the part 1 of the Phase III clinical trial of lanifibranor in patients with NASH, which are expected in the second half of 2024.