Inventiva Gains New 7.4% Holder as Great Point Files Schedule 13G

Rhea-AI Filing Summary

Schedule 13G filing: Great Point Partners, LLC ("Great Point"), along with Dr. Jeffrey R. Jay, M.D. and Ms. Lillian Nordahl, report a new 7.42 % passive stake in Inventiva S.A. (CUSIP F5R343107) as of 05 May 2025.

The group beneficially owns 10,576,827 ordinary shares, comprised of 7,243,495 shares held outright and warrants for 3,333,332 shares. The ownership calculation is based on 139,151,274 shares outstanding plus the warrant shares, as disclosed in Inventiva’s 6-K dated 05 May 2025.

• Great Point Partners, LLC is an investment adviser organised in Delaware and files as an IA/OO.
• Dr. Jay (Senior Managing Member) and Ms. Nordahl (Managing Director) each file as HC/IN with shared voting and dispositive power over the entire position; neither has sole power.
• The shares are held through two health-care–focused funds: Biomedical Value Fund, L.P. (4,853,356 shares + 2,166,666 warrants) and Biomedical Offshore Value Fund, Ltd. (2,390,139 shares + 1,166,666 warrants).
• The reporting persons expressly disclaim beneficial ownership except to the extent of their pecuniary interest.

No other material transactions, earnings data or strategic changes are disclosed. The filing is purely an ownership disclosure under Rule 13d-1(c), signalling that Great Point now exceeds the 5 % threshold and is required to report its passive investment in Inventiva.

Insights

Financial Analyst

TL;DR: Great Point reveals 7.4 % passive stake in Inventiva; signals institutional interest, modest positive sentiment, limited immediate operational impact.

The appearance of Great Point Partners—an experienced life-science investor—on Inventiva’s register with 7.42 % ownership broadens the shareholder base and may improve market perception of the biotech’s prospects. While the stake is passive (Schedule 13G, not 13D) and thus carries no stated activist intent, it still represents meaningful capital support, especially as 3.3 million shares are tied to exercisable warrants that could inject additional cash if exercised. Investors should note the absence of control: voting and dispositive powers are shared among the three filers with no sole authority, reducing governance risk. Overall, the disclosure is moderately positive for sentiment but does not alter Inventiva’s fundamentals.

Corporate Governance Expert

TL;DR: New 7.42 % holder increases institutional ownership; no activism signaled.

From a governance standpoint, the filing shows a coordinated but passive position held via healthcare-specialist funds. The joint-filing agreement and shared powers comply with Rule 13d-1(k). Because no individual possesses sole voting or disposal authority, the likelihood of unilateral shareholder action is low. The group’s disclaimer of beneficial ownership beyond pecuniary interest further limits control implications. Consequently, board dynamics remain unchanged, but the company gains a knowledgeable shareholder that could influence future capital raises given its warrant position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Inventiva S.A.

(Name of Issuer)

Ordinary shares, nominal value 0.01 Euro per share

(Title of Class of Securities)

F5R343107

(CUSIP Number)

05/05/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. F5R343107

1

Names of Reporting Persons

Great Point Partners, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,576,827.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,576,827.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,576,827.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.42 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. F5R343107

1

Names of Reporting Persons

Dr. Jeffrey R. Jay, M.D.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,576,827.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,576,827.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,576,827.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.42 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. F5R343107

1

Names of Reporting Persons

Ms. Lillian Nordahl

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,576,827.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,576,827.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,576,827.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.42 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inventiva S.A.
(b)	Address of issuer's principal executive offices: 50 rue de Dijon, 21121 Daix France
Item 2.
(a)	Name of person filing: Great Point Partners, LLC Dr. Jeffrey R. Jay, M.D. Ms. Lillian Nordahl The Reporting Persons have entered into a Joint Filing Agreement, dated June 20, 2025, a copy of which is filed with this SCHEDULE 13G as Exhibit A, pursuant to which the Reporting Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is 165 Mason Street, 3rd Floor Greenwich, CT 06830
(c)	Citizenship: Great Point Partners, LLC is a limited liability company organized under the laws of the State of Delaware. Dr. Jeffrey R. Jay, M.D. is a citizen of the United States. Ms. Lillian Nordahl is a citizen of the United States.
(d)	Title of class of securities: Ordinary shares, nominal value 0.01 Euro per share
(e)	CUSIP No.: F5R343107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 10,576,827
(b)	Percent of class: 7.42%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 10,576,827
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 10,576,827 The percentage set forth in Row (11) of the cover pages for the Reporting Persons are based on a total of 139,151,274 shares outstanding, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission (the "SEC") on May 5, 2025 and 3,333,332 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons. Biomedical Value Fund, L.P. ("BVF") is the record holder of 4,853,356 shares of Common Stock (the "BVF Shares"). Such shares constitute 3.41% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. BVF is the record holder of warrants to purchase an additional 2,166,666 shares of Common Stock (the "BVF Warrants"). All shares underlying such warrants are exercisable, which constitutes 1.52% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. Each of Dr. Jeffrey R. Jay, M.D. ("Dr. Jay"), as Senior Managing Member of Great Point, and Ms. Lillian Nordahl ("Ms. Nordahl"), as Managing Director of Great Point, has voting and investment power with respect to the BVF Shares, and therefore may be deemed to be the beneficial owner of the BVF Shares. Biomedical Offshore Value Fund, Ltd. ("BOVF") is the record holder of 2,390,139 shares of Common Stock (the "BOVF Shares"). Such shares constitute 1.68% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. BOVF is the record holder of warrants to purchase an additional 1,166,666 shares of Common Stock (the "BOVF Warrants"). All shares underlying such warrants are exercisable, which constitutes 0.82% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. Each of Dr. Jeffrey R. Jay, M.D. ("Dr. Jay"), as Senior Managing Member of Great Point, and Ms. Lillian Nordahl ("Ms. Nordahl"), as Managing Director of Great Point, has voting and investment power with respect to the BOVF Shares, and therefore may be deemed to be the beneficial owner of the BOVF Shares. Notwithstanding the above, Great Point, Dr. Jay and Ms. Nordahl disclaim beneficial ownership of the BVF Shares and the BOVF Shares, except to the extent of their respective pecuniary interests. In addition to an aggregate of 7,407,406 shares of the Issuer's common stock (the "Common Stock") in the aggregate held outright, the reporting persons hold in the aggregate warrants to purchase 3,333,332 shares of Common Stock. All shares underlying such warrants are beneficially owned by the reporting persons. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. 1. Great Point Partners, LLC (a) Amount beneficially owned: 10,576,827 (b) Percent of class: 7.42% (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 10,576,827 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 10,576,827 2. Dr. Jeffrey R. Jay, M.D. (a) Amount beneficially owned: 10,576,827 (b) Percent of class: 7.42% (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 10,576,827 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 10,576,827 3. Ms. Lillian Nordahl (a) Amount beneficially owned: 10,576,827 (b) Percent of class: 7.42% (c) Number of shares as to which the person has: (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 10,576,827 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 10,576,827 Based on a total of 139,151,274 shares outstanding, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission (the "SEC") on May 5, 2025 and 3,333,332 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 4.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Great Point Partners, LLC

Signature:	/s/ Dr. Jeffrey R. Jay, M.D
Name/Title:	Dr. Jeffrey R. Jay, M.D - Senior Managing Member
Date:	06/20/2025

Dr. Jeffrey R. Jay, M.D.

Signature:	/s/ Dr. Jeffrey R. Jay, M.D
Name/Title:	Dr. Jeffrey R. Jay, M.D
Date:	06/20/2025

Ms. Lillian Nordahl

Signature:	/s/ Ms. Lillian Nordahl
Name/Title:	Ms. Lillian Nordahl
Date:	06/20/2025

Exhibit Information

JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned hereby agree as follows: (i) Each of them is individually eligible to use the SCHEDULE 13G to which this Exhibit is attached, and such SCHEDULE 13G is filed on behalf of each of them; and (ii) Each of them is responsible for the timely filing of such SCHEDULE 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Dated: June 20, 2025 Great Point Partners, LLC By: /s/ Dr. Jeffrey R. Jay, M.D. Dr. Jeffrey R. Jay, M.D., as Senior Managing Member Dr. Jeffrey R. Jay, M.D. By: /s/ Dr. Jeffrey R. Jay, M.D. Dr. Jeffrey R. Jay, M.D. Ms. Lillian Nordahl By: /s/ Ms. Lillian Nordahl Ms. Lillian Nordahl