89bio

89bio is a clinical-stage biopharmaceutical company focused on developing therapies for severe liver and cardio-metabolic diseases, based in San Francisco, California. The enterprise primarily advances its lead product candidate, pegozafermin, which recently entered a Phase 3 clinical trial program for the treatment of metabolic dysfunction-associated steatohepatitis. Trading publicly on the NASDAQ, the firm maintains a market capitalization between $500 million and $1 billion and completed a $275 million upsized public offering in early 2023. The company operates under the leadership of Chief Executive Officer Rohan Palekar and board director Kathy LaPorte, having acquired its initial core therapeutic assets from Teva Pharmaceuticals. Early venture backing was provided by lead investor OrbiMed before the organization transitioned to the public equity markets. 89bio was founded in 2018 by Ram Waisbourd.