Inventiva S.A.

IVA

$4.84

-0.41%

N/A-$0.02

Healthcare

Biotechnology

NASDAQ

Active Trading

Inventiva S.A. is a biopharmaceutical company currently in its clinical development phase, specializing in the creation of orally administered small molecule therapeutics. ...

Supply Chain of IVA

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Delpharm

Unnamed single-source suppliers (API components & materials)

Unnamed Contract Research Organizations (CROs)

European Investment Bank (EIB)

Unnamed specialty chemical & intermediate suppliers

Catalys Pacific

Delpharm

Contract Development & Manufacturing Organization (CDMO) – manufacturer of clinical batches of lanifibranor for Phase 3 NATiV3 trial

Unnamed single-source suppliers (API components & materials)

Suppliers of chemical components, raw materials, and intermediates used in the manufacture of lanifibranor drug substance; dependency disclosed as a risk factor in 20-F filings

Unnamed Contract Research Organizations (CROs)

Clinical trial management, site monitoring, data management, and regulatory support for the global Phase 3 NATiV3 trial across multiple countries

European Investment Bank (EIB)

Provided up to €50M credit facility (repaid June 2026); structured financing partner supporting R&D expansion

Unnamed specialty chemical & intermediate suppliers

Suppliers of advanced chemical intermediates and raw materials to Delpharm and other CDMOs for lanifibranor active pharmaceutical ingredient synthesis

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical Group (CTTQ)

Hepalys Pharma, Inc.

Biossil, Inc.

Boehringer Ingelheim International GmbH

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical Group (CTTQ)

HKEx:1177

Exclusive license and collaboration partner for development, import, manufacturing, and commercialization of lanifibranor in Greater China (mainland China, Hong Kong, Macau, Taiwan); upfront $12M + up to $295M in milestones + tiered royalties · 65.0%

Hepalys Pharma, Inc.

Exclusive license partner to develop and commercialize lanifibranor in Japan and South Korea; Inventiva holds 30% equity stake; upfront $10M + up to $231M in milestones + tiered royalties; partner responsible for all regional clinical development costs · 25.0%

Biossil, Inc.

Purchased global rights to odiparcil (Inventiva's second clinical asset for MPS VI) in 2025 for $0.6M upfront + up to $90M in regulatory/commercial milestones + tiered royalties on future sales · 8.0%

AbbVie Inc.

NYSE:ABBV

Former strategic R&D collaboration (2012–2022) for discovery of RORγ inverse agonists; resulted in clinical candidate cedirogant (ABBV-157) for psoriasis; AbbVie terminated the program in October 2022 after Phase 2b analysis; no active supply chain dependency

Boehringer Ingelheim International GmbH

Former collaboration (announced 2016, up to €170M) for idiopathic pulmonary fibrosis research targeting transcriptional regulation; partnership ended; no active supply chain dependency

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

Madrigal Pharmaceuticals, Inc.

Viking Therapeutics, Inc.

Sino Biopharmaceutical Limited

Akero Therapeutics, Inc.

Madrigal Pharmaceuticals, Inc.

NASDAQ:MDGL

Only company with FDA-approved MASH therapy (Rezdiffra/resmetirom); most direct public-market proxy for MASH space; commercial-stage company with approved product vs. Inventiva's pre-commercial stage; key valuation and sentiment benchmark for MASH-focused biotech investors

Viking Therapeutics, Inc.

NASDAQ:VKTX

Clinical-stage biotech with MASH candidate VK2809 (thyroid hormone receptor beta agonist); comparable development stage to Inventiva; frequently traded as a correlated name in the MASH sector; provides public-market read on investor appetite for pre-commercial MASH assets

Sino Biopharmaceutical Limited

HKEx:1177

Inventiva's largest downstream partner; as the Greater China licensee of lanifibranor, its financial performance and strategic commitment to MASH directly affect Inventiva's milestone revenue potential; public-market proxy for partnership health

Akero Therapeutics, Inc.

NASDAQ:AKRO

Clinical-stage MASH company developing efruxifermin (FGF21 analog); same target patient population (F2-F3 MASH with fibrosis); being acquired by Novo Nordisk (deal closed Dec 2025), providing a public-market valuation benchmark for late-stage MASH assets

Geographic

Region-level exposures that can distort the supply network.

Geographic

France (Headquarters & R&D)

Greater China

Japan & South Korea

Inventiva S.A. (Daix facility)

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical Group

Hepalys Pharma, Inc.

France (Headquarters & R&D)

Operational concentration at single site in Daix (Burgundy); research labs, offices, and animal facilities co-located; any disruption (natural disaster, local regulatory changes, labor issues) would halt all R&D operations

Inventiva S.A. (Daix facility)NASDAQ:IVASingle-site headquarters and research center at 50 rue de Dijon, 21121 Daix, France

Greater China

Revenue dependence on Sino Biopharm/CTTQ partnership; exposure to China regulatory environment, trade tensions, IP protection risks, and economic policy changes

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical GroupHKEX:1177Exclusive license partner for Greater China development and commercialization of lanifibranor

Japan & South Korea

Revenue dependence on Hepalys Pharma partnership; exposure to Japan/Korea regulatory environments; Hepalys (30% owned by Inventiva) faces venture-stage execution risk

Hepalys Pharma, Inc.Exclusive license partner for Japan and South Korea development and commercialization of lanifibranor

Global (Clinical Trial Sites)

NATiV3 Phase 3 trial is multi-country; exposure to geopolitical instability, site activation delays, patient recruitment challenges, and varying regulatory standards across jurisdictions

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Foundry

Critical

Single-asset concentration: Lanifibranor is Inventiva's sole remaining clinical asset after the sale of odiparcil; all strategic focus, cash allocation, and valuation depend entirely on NATiV3 Phase 3 trial success

Equipment

Critical

Single-source supplier dependency: Inventiva relies on single-source suppliers for key components and materials used in lanifibranor manufacturing; any disruption would cause supply delays, as disclosed in the 20-F risk factors. No commercial supply agreements are yet in place with contract manufacturers or alternate fill/finish suppliers

Customer

High

Geographic licensing concentration: The two largest licensing partners (Sino Biopharm/CTTQ for Greater China and Hepalys for Japan/South Korea) represent ~90% of milestone-based revenue potential; failure of either partnership would materially impact projected income

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

Licensing & Collaboration Revenue – Sino Biopharm/CTTQ (Greater China)

65.0%

Milestone payments from Greater China licensing partner represent the largest revenue source; includes upfront ($12M) and potential clinical/regulatory milestones up to $295M.

Licensing & Collaboration Revenue – Hepalys Pharma (Japan & South Korea)

25.0%

Upfront $10M payment with potential milestones up to $231M; partner conducts and finances all regional clinical trials. Inventiva holds 30% equity stake in Hepalys.

Asset Sale – Odiparcil to Biossil Inc.

8.0%

One-time upfront $0.6M with potential regulatory/commercial milestones up to $90M plus royalties; removes MPS VI pipeline asset from Inventiva's supply chain obligations.

Historical R&D Collaboration Revenue (AbbVie, Boehringer Ingelheim)

2.0%

Legacy milestone payments from terminated/discontinued collaborations; no active supply chain dependency remains.

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Inventiva S.A.

Supply Chain of IVA

Upstream

Delpharm

Unnamed single-source suppliers (API components & materials)

Unnamed Contract Research Organizations (CROs)

European Investment Bank (EIB)

Unnamed specialty chemical & intermediate suppliers

Catalys Pacific

Downstream

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical Group (CTTQ)

Hepalys Pharma, Inc.

Biossil, Inc.

AbbVie Inc.

Boehringer Ingelheim International GmbH

Proxies

Madrigal Pharmaceuticals, Inc.

Viking Therapeutics, Inc.

Sino Biopharmaceutical Limited

Akero Therapeutics, Inc.

Geographic

France (Headquarters & R&D)

Greater China

Japan & South Korea

View More

Supply Chain of IVA

Upstream

Delpharm

Unnamed single-source suppliers (API components & materials)

Unnamed Contract Research Organizations (CROs)

European Investment Bank (EIB)

Unnamed specialty chemical & intermediate suppliers

Catalys Pacific

Downstream

Sino Biopharmaceutical Ltd / Chia Tai Tianqing Pharmaceutical Group (CTTQ)

Hepalys Pharma, Inc.

Biossil, Inc.

AbbVie Inc.

Boehringer Ingelheim International GmbH

Proxies

Madrigal Pharmaceuticals, Inc.

Viking Therapeutics, Inc.

Sino Biopharmaceutical Limited

Akero Therapeutics, Inc.

Geographic

France (Headquarters & R&D)

Greater China

Japan & South Korea

View More