MetaVia Secures $10 Million Funding to Advance Drug Development

MetaVia Secures $10 Million Funding to Advance Drug Development

MetaVia Inc. (Nasdaq: MTVA), a pioneering clinical-stage biotechnology company, is making headlines with its latest private placement announcement, promising to raise approximately $10 million in gross proceeds. This funding is primarily earmarked for developing its flagship drug candidate, DA-1726, targeting obesity treatment. The initiative emphasizes MetaVia's commitment to tackling significant cardiometabolic health challenges.

The offering comprises an agreement to acquire 9,479,345 shares of MetaVia's common stock, priced at $0.71 each, along with 4,605,162 pre-funded warrants for shares at $0.709 per warrant. Notably, these warrants are structured to be exercised at just $0.001 once shareholder approval is obtained, demonstrating the company’s proactive approach to its financial strategies.

Expected to close shortly, this private placement adheres to Nasdaq's at-the-market pricing structure. With the offering, MetaVia is aligning its financial strategy to support its ongoing clinical trials and innovative research, acknowledging that every dollar from this private placement will empower its mission of advancing life-changing therapies.

The Role of the Placement Agent

Ladenburg Thalmann & Co. Inc. has been appointed as the exclusive placement agent for MetaVia's offering. Their expertise ensures that the placement navigates efficiently through both the regulatory landscape and the investment community.

A Focus on Clinical Development

MetaVia makes it clear that this funding will be pivotal for the continued clinical development of DA-1726, a novel oxyntomodulin (OXM) analogue that operates as a dual agonist for glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR). By activating these receptors, DA-1726 aims to not only curb food intake but also enhance energy expenditure, promising a more effective weight loss solution compared to existing therapies.

Exploring New Frontiers in Medicine

Alongside DA-1726, MetaVia is also developing DA-1241, a G-protein-coupled receptor 119 (GPR119) agonist, which plays a significant role in metabolic regulation. This compound has shown encouraging results in pre-clinical studies, indicating improvements in liver inflammation and lipid metabolism, crucial for addressing metabolic diseases.

About MetaVia

MetaVia is on a mission to innovate within the biotechnology landscape, specifically in treating cardiometabolic diseases. With drug candidates like DA-1726 and DA-1241 in its pipeline, the company is poised to make strides in managing conditions that impact millions globally. Their approach integrates cutting-edge science with a deep understanding of patient needs and regulatory requirements, ultimately aiming to provide safer and more efficient treatment options.

For additional insights into MetaVia’s progress and initiatives, visit www.metaviatx.com.

Frequently Asked Questions

What is the purpose of the $10 million funding?

The funding aims to support MetaVia in the clinical development of its obesity treatment candidate, DA-1726, and to enhance other corporate functions.

Who is acting as the placement agent for the private placement?

Ladenburg Thalmann & Co. Inc. has been designated as the exclusive placement agent for the offering.

What are the key products being developed by MetaVia?

MetaVia is focused on DA-1726 for obesity treatment and DA-1241 for metabolic dysfunction-associated steatohepatitis (MASH).

How does DA-1726 work?

DA-1726 acts as a dual agonist for GLP1R and GCGR, potentially leading to better weight loss results by reducing food intake and promoting energy expenditure.

Where can I find more information about MetaVia?

For further details on MetaVia’s advancements and research, you can visit their official website at www.metaviatx.com.

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