- Inventive VAT signed a €50 million bullet credit facility agreement with the European Investment Bank.
- The company plans to use the facility for its preclinical and clinical pipeline, including to help fund part of its Phase 3 clinical trial of lanifibranor in patients with non-alcoholic steatohepatitis (NASH).
- Related: Inventiva publishes results of extensive QT interval clinical study of Lanifibranor.
- The facility is divided into two tranches of €25 million each. The disbursement of Tranche A is subject to the fulfillment of certain conditions precedent specified in the credit facility agreement.
- Tranche B is subject to the full drawdown of Tranche A and the fulfillment of certain conditions precedent.
- Repayment of interest and principal on this credit facility is expected to occur after the publication of the key results from the Part 1 of the Phase 3 trial of lanifibranor in patients with NASH, expected in 2H 2024.
- Price action: IVA shares are up 3.40% at $9.10 during Monday’s last check trading session.
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