Shares of Inventiva (NASDAQ: IVA) were down in pre-market trading as the clinical-stage biopharmaceutical company announced that AbbVie (ABBV) announced on Friday that it was stopping the development of cedirogant (ABBV- 157), a drug jointly discovered by Inventiva and AbbVie for the treatment of autoimmune diseases.
Frédéric Cren, Chairman, CEO, and Co-Founder of Inventiva commented, “Although we are disappointed to see the end of cedirogant’s clinical program following the analysis of a nonclinical toxicology study, we wish to thank our partner AbbVie for 10 years of collaboration.”
Cren added, “We are now fully focused on the development of our lead asset lanifibranor, a promising treatment which is currently in Phase III clinical development for the treatment of NASH, a disease for which there are currently no treatments approved by regulatory agencies.”