SCHEDULE: Andera Partners Reports 8.8% Stake in Inventiva S.A.

Andera Partners and related entities have reported a beneficial ownership of 8.8% in Inventiva S.A. ordinary shares.

Summary

• Andera Partners, BioDiscovery 6 FPCI, Stephane Bergez, and Francois Xavier Mauron collectively reported beneficial ownership of 12,296,295 ordinary shares of Inventiva S.A.
• This ownership represents 8.8% of Inventiva S.A.'s outstanding ordinary shares.
• The percentage is calculated based on 139,151,274 ordinary shares outstanding as of May 7, 2025, as reported by Inventiva S.A. in a Form 6-K filing.
• BioDiscovery 6 FPCI is the record holder of the shares, with Andera Partners acting as its management company.
• Stephane Bergez and Francois Xavier Mauron are the managing partners of Andera Partners, and as such, are deemed to beneficially own the shares.
• The reporting persons explicitly disclaim status as a 'group' for the purposes of this Schedule 13G filing.
• The securities were not acquired and are not held for the purpose or effect of changing or influencing the control of Inventiva S.A.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently suggest positive or negative sentiment regarding the company's performance or prospects. It is neutral in tone and content.

Risks

• The filing does not explicitly state risks beyond the standard disclaimer that the shares are not held for the purpose of changing or influencing control of the issuer.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of significant beneficial ownership in a publicly traded company, common in the biotechnology and pharmaceutical sectors where institutional investments are frequent. It indicates a substantial, but passive, investment by a French investment firm in Inventiva S.A., a company likely involved in drug development or related activities.

Comparison to Industry Standards

• A beneficial ownership stake of 8.8% is considered significant and typically warrants disclosure under SEC rules, aligning with standard industry practices for transparency in major shareholdings.
• The structure involving a fund (BioDiscovery 6 FPCI) managed by a general partner (Andera Partners) with individual managing partners (Bergez, Mauron) is a common setup for private equity and venture capital investments in the life sciences sector.

Related Party Transactions

• BioDiscovery 6 FPCI is the record holder of the shares, and Andera Partners is its management company. Stephane Bergez and Francois Xavier Mauron are managing partners of Andera Partners. This establishes a clear relationship where the individuals and the management company exercise control over the shares held by the fund.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, confirming a substantial, non-controlling investment.
• Management: Awareness of a large, passive shareholder, which typically implies no immediate pressure for strategic changes.

Key Dates

Keywords

Inventiva S.A., Andera Partners, BioDiscovery 6 FPCI, Beneficial Ownership, SEC Filing, Schedule 13G, Ordinary Shares, Biotechnology, Pharmaceuticals, Investment