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Press Release

Inventiva announces that it has been informed of the modification of the call option agreement concluded by BVF Partners L.P.

INVENTIVA
Posted on: 22 Aug 18

Inventiva announces that it has been informed of the modification of the call option agreement concluded by BVF Partners L.P.

Daix (France), August 22, 2018 - Inventiva, a biopharmaceutical company developing innovative therapies in nonalcoholic steatohepatitis (NASH), systemic sclerosis (SSc), and mucopolysaccharidosis (MPS), announces that it was informed by a letter received on August 21, 2018 of the conclusion on August 20, 2018 of an amendment to the call option agreement which was concluded between M. Broqua, M. Cren, co-founders of the company, and BVF Partners L.P. on January 11, 2017, regarding call options with physical settlement and relating to shares of Inventiva (the " Agreement ").

The abovementioned letter specifies that the amendment agreement mainly modifies the provisions of the Agreement relating to:

  • the exercise period of the call options, the term of which was initially set for February 16, 2019 and which has now been  advanced to September 17, 2018 and extended for a new period from September 18, 2018 to February 16, 2020,
  • the number of shares subject to the call options during the exercise period from September 18, 2018 to February 16, 2020, which will decrease from 1,764,705 shares to 1,250,000 shares, and
  • the exercise price of the call options during the extended call option period, which will increase from EUR 8,5 to EUR 12.

The declaration relating to the modification of the Agreement through an amendment agreement made by the shareholders pursuant to Article L. 233-11 of the French Code de commerce is available on the AMF website ( www.amf-france.org ).

About Inventiva:   www.inventivapharma.com

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 Morqio 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 highly qualified employees and owns state-of-the-art 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.

Contacts  

Inventiva
Frédéric Cren
Chief Executive Officer  info@inventivapharma.com
+33 3 80 44 75 00
Brunswick
Julien Trosdorf / Yannick Tetzlaff
Media relations inventiva@brunswickgroup.com
+33 1 53 96 83 83
LifeSci Advisors
Chris Maggos
Investor relations
chris@lifesciadvisors.com
+41 79 367 6254
     
         

Important Notice

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.

Inventiva - PR - Amendment to the Call Option Agreement - 22 08 18


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: INVENTIVA via GlobeNewswire
HUG#2212358
GlobeNewswire
globenewswire.com

Last updated on: 23/08/2018

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