Inventiva (NASDAQ: IVA) and Chia Tai-Tianqing Pharmaceutical Group Co Ltd, a Sino Biopharm subsidiary, have entered into a licensing and collaboration agreement to develop and commercialize lanifibranor for non-alcoholic steatohepatitis (NASH) and potentially other metabolic diseases in mainland China, Hong Kong, Macau, and Taiwan.
Inventiva will receive an upfront payment of $12 million, and $5 million are also expected in the short term if certain clinical milestones are met. Inventiva has the potential to receive up to $290 million in milestone payments.
In its 1H earnings release, Inventiva said it targets the last patient's first visit for NATiV3 Phase 3 trial of lanifibranor in patients with NASH for H2 2023 vs. 1H 2023, with topline data from part 1 of the study now targeted for 2H of 2025.
The company says the delay is primarily due to a higher than initially projected screen failure rate resulting in a slower than anticipated enrollment rate hit by the Russia-Ukraine war and the pandemic.
With a cash balance of €76.4 million, Inventiva's Cash runway extended through Q4 2023, including the expected $12 million upfront payment from Sino Biopharm and the €25 million from the EIB credit facility.
Price Action: IVA shares trading higher by 22.10% higher at $4.80 during premarket trading on Thursday.
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