BVF Amends Stake in Inventiva S.A.

TL;DR

BVF updated its 13D on Inventiva. Watch for changes.

AI Summary

Biotechnology Value Fund L.P. (BVF) has amended its Schedule 13D filing regarding Inventiva S.A. on July 19, 2024. BVF, an investment advisor, holds a significant stake in Inventiva, a pharmaceutical preparations company. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt.

Why It Matters

This amendment signals a potential shift in the investment strategy or holdings of Biotechnology Value Fund L.P. concerning Inventiva S.A., which could impact the company's stock performance.

Risk Assessment

Risk Level: medium — Changes in significant shareholder filings can indicate shifts in investor sentiment or strategy, potentially affecting stock price.

Key Players & Entities

• Inventiva S.A. (company) — Subject Company
• Biotechnology Value Fund L.P. (company) — Filing Entity
• JAMES KRATKY (person) — Authorized to receive communications
• 44 MONTGOMERY ST., 40TH FLOOR (address) — BVF's business address

FAQ

Filing Documents

• sc13da207422010_07192024.htm (SC 13D/A) — 280KB
• 0000921895-24-001602.txt ( ) — 282KB

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a) and (c) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported owned by each person named herein is based on 52,477,188 Shares outstanding, which is the total number of Shares outstanding as reported in Exhibit 99.1 to the Issuer’s Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on May 30, 2024. As of the date hereof, (i) BVF beneficially owned 4,630,461 Shares, including 451,003 Shares underlying ADSs held by it, representing percentage ownership of approximately 8.8% of the Shares outstanding, (ii) BVF2 beneficially owned 3,321,861 Shares, including 234,997 Shares underlying ADSs held by it, representing percentage ownership of approximately 6.3% of the Shares outstanding, (iii) Trading Fund OS beneficially owned 397,086 Shares, including 40 Shares underlying ADSs held by it, representing percentage ownership of less than 1% of the Shares outstanding, and (iv) 196,091 Shares were held in the Partners Managed Account, representing percentage ownership of less than 1% of the Shares outstanding. BVF GP, as the general partner of BVF, may be deemed to beneficially own the 4,630,461 Shares beneficially owned by BVF, representing percentage ownership of approximately 8.8% of the Shares outstanding. BVF2 GP, as the general partner of BVF2, may be deemed to beneficially own the 3,321,861 Shares beneficially owned by BVF2, representing percentage ownership of approximately 6.3% of the Shares outstanding. Partners OS, as the general partner of Trading Fund OS, may be deemed to beneficially own the 397,086 Shares beneficially owned by Trading Fund OS, representing percentage BVF GPH, as the sole member of each of BVF GP and BVF2 GP, may be deemed to beneficially own the 7,952,322 Shares beneficially owned in the aggregate by BVF and BVF2, representing percentage

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer .

is hereby amended

Item 6 is hereby amended to add the following: On July 17, 2024, the Issuer entered into subscription agreements (the “Royalty Certificate Subscription Agreements”) with certain investors, including certain Reporting Persons, pursuant to which the Issuer agreed to issue and sell, and such investors agreed to purchase and acquire, an aggregate of 201 royalty certificates (the “Royalty Certificates”), in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Transaction”). In connection with the Transaction, the Reporting Persons purchased Royalty Certificates as follows: BVF (34 Royalty Certificates), BVF2 (26 Royalty Certificates), Trading Fund OS (3 Royalty Certificates) and the Partners Managed Account (1 Royalty Certificate), constituting a total of 64 Royalty Certificates. The subscription price of the Royalty Certificates is €100,000 per certificate. Settlement and delivery of the Royalty Certificates is expected to occur on or about July 22, 2024, subject to the satisfaction of customary closing conditions. The Royalty Certificates will provide the holders thereof with the right to an annual payment of royalties (“Royalties”) equal to 3% of the future net sales, if any, of the Issuer’s product candidate lanifibranor beginning on the fiscal year following the start of the sales of lanifibranor following the granting of the market authorization for lanifibranor in (i) the United States of America, (ii) the countries of the European Union or (iii) the United Kingdom, whichever occurs first, if at all. The Royalty Certificates will have a term of 14 years following the date of issue. In the event of a Merger (as defined in the Royalty Certificates), and upon the request of the Issuer, the holders of Royalty Certificates and the Issuer will negotiate the terms upon which the Issuer may purchase all of the then-outstanding Royalty Certificates; provided that neither the

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits .

is hereby

Item 7 is hereby amended to add the following exhibit: 99.1 Form of Royalty Certificate Subscription Agreement, dated as of July 17, 2024 (incorporated by reference to Exhibit 99.1 of the Issuer’s Form 6-K, filed with the SEC on July 18, 2024). 14 CUSIP No. 46124U107

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated:July 19, 2024 BIOTECHNOLOGY VALUE FUND, L.P. BIOTECHNOLOGY VALUE TRADING FUND OS LP By: BVF I GP LLC., its general partner By: BVF Partners L.P., its investment manager By: /s/ Mark N. Lampert By: BVF Inc., its general partner Mark N. Lampert Chief Executive Officer By: /s/ Mark N. Lampert Mark N. Lampert President BVF I GP LLC By: /s/ Mark N. Lampert BVF GP HOLDINGS LLC Mark N. Lampert Chief Executive Officer By: /s/ Mark N. Lampert Mark N. Lampert Chief Executive Officer BIOTECHNOLOGY VALUE FUND II, L.P. By: BVF II GP LLC, its general partner BVF PARTNERS L.P. By: /s/ Mark N. Lampert By: BVF Inc., its general partner Mark N. Lampert Chief Executive Officer By: /s/ Mark N. Lampert Mark N. Lampert President BVF II GP LLC By: /s/ Mark N. Lampert BVF INC. Mark N. Lampert Chief Executive Officer By: /s/ Mark N. Lampert Mark N. Lampert President BVF PARTNERS OS LTD. By: BVF Partners L.P., its sole member /s/ Mark N. Lampert By: BVF Inc., its general partner MARK N. LAMPERT By: /s/ Mark N. Lampert Mark N. Lampert President 15

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View this SC 13D/A filing on SEC EDGAR