Europe's largest independent growth debt fund manager has made an investment through its funds, of €43m in Inventiva (NASDAQ:IVA), a clinical-stage biopharmaceutical company developing an oral therapy for the treatment of metabolic dysfunction-associated steatohepatitis ("MASH"), a common and progressive chronic liver disease.

Headquartered in Dijon, France, Inventiva is advancing lanifibranor, an oral once-daily pan-PPAR agonist designed to simultaneously activate all three subtypes of "peroxisome proliferator-activated receptors," or PPARs, targeting metabolic, inflammatory and fibrotic pathways. The therapy is currently being evaluated in the Phase 3 NATiV3 trial with anticipated top-line Phase 3 readout in Q4 2026.

The financing is provided alongside funds and accounts managed by BlackRock and totals up to €130 million in committed tranches, with an additional uncommitted tranche of up to €20 million. It is part of Inventiva's comprehensive capital structure optimization, including debt and equity financing, announced by Inventiva on June 2, 2026.

MASH is a progressive liver disease in which fat build-up triggers chronic inflammation and scarring. Currently affecting millions of people globally, without treatment, it can advance to cirrhosis or liver failure and is projected to become the leading cause of liver transplants for women in the US*. It affects an estimated 20–25% of patients already diagnosed with fatty liver disease globally, representing a largely underserved population.