(BFM Bourse) – The stock market price of the Burgundian biotechnology firm fell after AbbVie announced it was stopping development of cedirogant for the treatment of autoimmune diseases. Inventiva still hopes to provide proof of its efficacy in NASH, an indication with the greatest potential.
The start of the week is difficult for Inventiva. The pharmaceutical laboratory AbbVie announced on Friday the discontinuation of the development of cedirogant (ABBV-157), discovered jointly by Inventiva and AbbVie for the treatment of autoimmune diseases, following the recent conclusions of a toxicology study not clinical.
The French company’s cash flow, including the initial payment of $12 million expected from Sino Biopharm and the €25 million credit facility from the EIB (European Investment Bank), is however not affected by discontinuation of this clinical program. It should allow it to finance, as previously announced, its activities until the fourth quarter of 2023. Inventiva’s capabilities and objectives in terms of R&D remain unchanged.
The end of a ten-year partnership
In 2012, Inventiva and AbbVie signed a multi-year research partnership to identify RORγ inverse agonists for the treatment of several autoimmune diseases, in particular psoriasis in its moderate to severe form. In its Phase Ib clinical study (beginning of clinical trials), Abbvie demonstrated promising activity as an oral drug for the treatment of psoriasis.
In 2017, AbbVie announced its decision to pursue the clinical development of the drug candidate and initiated, in the second half of 2021, a Phase IIb evaluation study. The Phase IIb clinical study initiated by AbbVie with cedirogant is a multicenter, randomized, double-blind, placebo-controlled study, including several doses and aimed at evaluating the tolerance and efficacy of the drug candidate in adult patients with psoriasis. in moderate to severe patches. It was the results of this study that did not give AbbVie complete satisfaction and led it not to pursue its clinical development.
A “promising” treatment in NASH
The Burgundy firm still hopes to succeed where many laboratories have failed, including the French Genfit, by continuing to develop its molecule lanifibranor as a treatment for NASH. Inventiva still intends to provide proof of its effectiveness in “soda sickness”, a pathology characterized by an influx of fat to the liver that can cause lesions up to cirrhosis and cancer.
“We are now fully dedicated to the development of our flagship product lanifibranor, a promising treatment in Phase III (last stage of clinical trials before possible commercialization, editor’s note) of clinical development in NASH, a disease for which there is currently no no drug approved by regulatory agencies,” said Frédéric Cren, Chairman and CEO and co-founder of Inventiva.
“As such, we continue to progress in our pivotal Phase III NATiV3 trial and have recently reached a major milestone by signing a partnership with Sino Biopharm, a leading Chinese pharmaceutical group, to develop and potentially commercialize lanifibranor in Greater China”, continued the manager.
However, AbbVie’s decision to halt the development of cedirogant is painful Monday morning for the stock market biotech. The action fell by more than 16% to 4.81 euros, around 11:00 a.m. after having recovered by more than 100% over the first ten days of October thanks to the signing of the agreement with the Chinese Sino Biopharm for the development of his treatment for “soda sickness”.
Sabrina Sadgui – ©2022 BFM Bourse
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