MetaVia Announces $10.0 Million Private Placement Priced At-The-Market under Nasdaq Rules

MetaVia Announces $10.0 Million Private Placement

Priced At-The-Market under Nasdaq Rules

Mass., May 9, 2025 - MetaVia Inc. (Nasdaq: MTVA) ("MetaVia"), a clinical-stage biotechnology company

focused on transforming cardiometabolic diseases, today announced a private placement that MetaVia estimates will result in gross proceeds

of approximately $10.0 million, before deducting the placement agent's fees and other offering expenses payable by the company. MetaVia

currently intends to use the net proceeds from the offering for working capital and corporate purposes, including to continue the clinical

development of DA-1726 for the treatment of obesity.

The terms of the offering include an agreement

to purchase (i) 9,479,345 shares of MetaVia's common stock at a price of $0.71 per share, and (ii) 4,605,162 pre-funded warrants to purchase

shares of MetaVia's common stock at a price of $0.709 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001

per pre-funded warrant, and will be exercisable beginning on the effective date of receiving stockholder approval for the shares of MetaVia's

common stock issuable upon exercise of the pre-funded warrants. The private placement was priced at-the-market under Nasdaq rules, and

the closing of the private placement is expected to occur on or about May 12, 2025, subject to customary closing conditions.

The offer and sale of the securities in the private

placement, including the shares of common stock underlying the pre-funded warrants, are being made to certain institutional accredited

investors in a transaction not involving a public offering pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the

"Securities Act"), and Rule 506(b) of Regulation D promulgated thereunder, and have not been registered under the Securities

Act or applicable state securities laws. Accordingly, the securities to be issued in the private placement and underlying shares of common

stock may not be offered or sold in the United States except pursuant to an effective registration statement with the Securities and Exchange

Commission ("SEC") or an applicable exemption from the registration requirements of the Securities Act and such other

applicable state securities laws. MetaVia has agreed to file a registration statement with the SEC covering the resale of the shares of

MetaVia common stock issued and underlying the pre-funded warrants in the private placement and to obtain stockholder approval for the

shares of MetaVia common stock underlying the pre-funded warrants issued in the private placement.

Ladenburg Thalmann & Co. Inc. is acting as

the exclusive placement agent for the offering.

This press release shall not constitute an offer

to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in

any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification

under the securities laws of any such state or other jurisdiction.

Inc. is a clinical-stage biotechnology company focused on transforming cardiometabolic diseases. The company is currently developing DA-1726

for the treatment of obesity and is developing DA-1241 for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH). DA-1726

is a novel oxyntomodulin (OXM) analogue that functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) dual

agonist. OXM is a naturally-occurring gut hormone that activates GLP1R and GCGR, thereby decreasing food intake while increasing energy

expenditure, thus potentially resulting in superior body weight loss compared to selective GLP1R agonists. DA-1241 is a novel G-protein-coupled

receptor 119 (GPR119) agonist that promotes the release of key gut peptides GLP-1, GIP, and PYY. In pre-clinical studies, DA-1241 demonstrated

a positive effect on liver inflammation, lipid metabolism, weight loss, and glucose metabolism, reducing hepatic steatosis, hepatic inflammation,

and liver fibrosis, while also improving glucose control. In a Phase 2a clinical study, DA-1241 demonstrated direct hepatic action in

addition to its glucose lowering effects.

more information, please visit www.metaviatx.com.

Forward Looking Statements

Certain statements in this press release may be

considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believes",

"expects", "anticipates", "may", "will", "should", "seeks", "approximately",

"potential", "intends", "projects", "plans", "estimates" or the negative of these words

or other comparable terminology (as well as other words or expressions referencing future events, conditions or circumstances) are intended

to identify forward-looking statements, which include, among other statements, statements regarding the expected timing of the closing

of the offering, the satisfaction of customary closing conditions related to the offering, the anticipated use of the net proceeds from

the offering, the filing of a registration statement with the SEC, and obtaining stockholder approval for the shares of MetaVia common

stock issued and underlying the pre-funded warrants in the private placement. Forward-looking statements are predictions, projections

and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks

and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press

release, including, without limitation, those risks associated with MetaVia's ability to execute on its commercial strategy; MetaVia's

expectations regarding the sufficiency of its existing cash on hand to fund MetaVia's operations; the timeline for regulatory submissions;

the ability to obtain regulatory approval through the development steps of MetaVia's current and future product candidates; the ability

to realize the benefits of the license agreement with Dong-A ST Co. Ltd., including the impact on future financial and operating results

of MetaVia; the cooperation of MetaVia's contract manufacturers, clinical study partners and others involved in the development of MetaVia's

current and future product candidates; potential negative interactions between MetaVia's product candidates and any other products with

which they are combined for treatment; MetaVia's ability to initiate and complete clinical trials on a timely basis; MetaVia's ability

to recruit subjects for its clinical trials; whether MetaVia receives results from MetaVia's clinical trials that are consistent with

the results of pre-clinical and previous clinical trials; impact of costs related to the license agreement, known and unknown, including

costs of any litigation or regulatory actions relating to the license agreement; the effects of changes in applicable laws or regulations;

the effects of changes to MetaVia's stock price on the terms of the license agreement and any future fundraising; and other risks and

uncertainties described in MetaVia's filings with the Securities and Exchange Commission, including MetaVia's most recent Annual Report

on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date when made. MetaVia does

not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future

events or otherwise, except as required by law.

Marshall H. Woodworth

Chief Financial Officer

Rx Communications Group