By Stephen Nakrosis
The American depositary receipts of Inventiva were trading higher in Wednesday’s after-hours market following news the biopharmaceutical company entered a licensing agreement with Hepalys to develop and commercialize Inventiva’s lanifibranor for the treatment of non-alcoholic steatohepatitis in Japan and South Korea.
Inventiva has a 30% ownership position in Hepalys, a new company created by Catalys Pacific.
Under the terms of the deal, Inventiva will receive $10 million up front, and will be eligible to receive up to $231 million in various payments, in addition to tiered royalties.
At 5:07 p.m. EDT, Inventiva’s ADRs were trading 9.49% higher at $4.19. They finished the day’s regular session with a 0.5% gain, closing at $3.83.
Write to Stephen Nakrosis at [email protected]
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