Genfit is a leading Phase III biopharmaceutical company dedicated to the development of innovative therapeutics and diagnostics for liver-related diseases, especially NASH (Non-Alcoholic Steatohepatitis), affecting ~20 million people in the US.
Efficacy of elafibranor was demonstrated in Phase II, which also showed good tolerability and improved cardiometabolic profile in NASH patients.
Results of ongoing elafibranor registrational Phase III trial in NASH are expected at the end of 2019. An approval could position elafibranor as one of the first-ever treatments in this indication.
Other clinical programs include Phase III-ready elafibranor in PBC (Primary Biliary Cholangitis) and Phase II Nitazoxanide in NASH-induced fibrosis.
IPO proceeds will be used to complete the ongoing Phase III of elafibranor in NASH, prepare its launch by building a commercial infrastructure, advance its clinical investigations in PBC and as a backbone for NASH combination therapy.
GENFIT is a biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, and hepatobiliary diseases. GENFIT concentrates its R&D efforts in areas of high unmet medical needs corresponding to a lack of approved treatments. GENFIT’s lead proprietary compound, elafibranor, is a drug candidate currently being evaluated in one of the most advanced Phase 3 studies worldwide (RESOLVE-IT) in NASH, considered by regulatory authorities as a medical emergency because it is silent, with potentially severe consequences, and with a prevalence on the rise. Elafibranor has also obtained positive preliminary results in a Phase 2 clinical trial in PBC, a severe chronic liver disease. As part of its comprehensive approach to clinical management of NASH patients, GENFIT is conducting an ambitious discovery and development program aimed at providing patients and physicians with a blood-based test for the diagnosis of NASH, i.e. non-invasive and easy-to-access. With facilities in Lille and Paris, France, and Cambridge, MA (USA), the Company has approximately 150 employees. GENFIT is a public company listed in compartment B of Euronext’s regulated market in Paris (Euronext: GNFT – ISIN: FR0004163111).
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acted as Joint Bookrunner, alongside SVB Leerink, Barclays and Natixis and co-managed the European Syndicate.
Genfit raised USD 155.4 million (including 15% greenshoe option) in a global SEC-registered equity offering targeting institutional investors across the US and Europe.
The offering priced, following an 8-day fully-marketed book building process, at EUR 18 per share (ie. USD 20.32).
In advance to the offering, Genfit met with more than 60 investors (generalists and specialists) in NDR and TTWs activity co-managed by Bryan, Garnier & Co throughout Europe and the US.
Book was multiple times over-subscribed primarily by new high quality specialist investors with the top 10 allocations taking over 70% of the base deal and several “who’s who biotech investors” taking top allocations.
On the first day of trading Genfit ADS closed at USD 22.17 ie +9% on the IPO price.