89bio

Company Overview

Snapshot

Founded in January 2018, 89bio is a clinical-stage biopharmaceutical company with 51–200 employees. The company has raised a total of $1.15 billion across 8 funding rounds from 4 investors. In September 2025, 89bio was acquired by Roche.

Business overview

89bio is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for liver and cardio-metabolic diseases. Its lead product candidate, pegozafermin (BIO89-100), is an investigational glycopegylated FGF21 analog. This therapy is being evaluated for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG), targeting FGF21 to regulate energy expenditure and glucose and lipid metabolism. The company operates within the Health Tech & Life Sciences sector, specifically in Pharmaceuticals, addressing patients with gastroenterological conditions.

Strategic signal

In September 2025, 89bio was acquired by Roche for up to $3.5 billion, including an upfront payment of $2.4 billion. This acquisition highlights the significant value placed on 89bio's lead product candidate, pegozafermin, a late-stage MASH drug, and signals a strategic move by Roche to expand its portfolio in obesity-tied diseases and liver treatments. The deal validates 89bio's therapeutic approach and provides a strong exit for investors, indicating continued interest in innovative treatments for metabolic and liver disorders within the biopharmaceutical industry.

Company Intelligence Q&A

What was the most significant corporate development for 89bio in 2025?

In September 2025, 89bio announced an agreement to be acquired by Roche for up to $3.5 billion, integrating its late-stage MASH drug into Roche's pipeline.

What was a key regulatory milestone for 89bio in 2023?

In September 2023, the U.S. FDA granted Breakthrough Therapy Designation for 89bio's pegozafermin in Nonalcoholic Steatohepatitis (NASH).

When did 89bio conduct its Initial Public Offering?

89bio completed its Initial Public Offering on NASDAQ in November 2019, raising $85 million.

Which investors participated in 89bio's first funding round?

In October 2018, 89bio secured its first funding round with participation from OrbiMed and RA Capital Management.

What was the amount of 89bio's public offering in March 2023?

In March 2023, 89bio announced an upsized public offering of common stock, raising $275 million.