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Report: Madrigal Pharmaceuticals mulling sale

Madrigal Pharmaceuticals Inc. is considering a sale of the company, Bloomberg News reported June 13, citing anonymous sources.

According to Bloomberg, the Pennsylvania-based company received takeover interest from companies looking for therapies for a liver disease known as nonalcoholic steatohepatitis, or NASH.

NASH is a common liver disease that does not have any U.S. Food and Drug Administration-approved treatment. It is characterized by a build-up of fat in the liver, inflammation, damage of hepatocytes and increasing scarring, and can lead to permanent damage in a high percentage of patients.

Madrigal has hired investment bank Centerview Partners Holdings to work on the possible sale. All plans are at an early stage, and the drugmaker might decide to not move forward with the sale, the news outlet reported.

The company did not immediately respond to Bloomberg's request for comment.

In late May, Madrigal's drug MGL-3196 reduced liver fat and resolved disease symptoms in patients with NASH. At week 36 of treatment, out of the 73 NASH patients receiving the treatment, 56% saw a decrease in nonalcoholic fatty liver disease, or NAFLD, activity and 27% had symptoms of their disease resolved.

NAFLD can refer to a group of conditions characterized by the accumulation of excess fat in the liver of people who drink little or no alcohol.