Ventyx Biosciences is a clinical-stage biopharmaceutical company with no approved products or revenue. Ventyx discovers and develops oral small molecule drugs for autoimmune, inflammatory, and neurodegenerative diseases, with all pipeline candidates internally discovered. The company's core focus is its NLRP3 inhibitor portfolio — NLRP3 is a protein complex whose overactivation drives inflammation across a broad range of diseases, and no NLRP3 inhibitors are currently approved. Ventyx has two NLRP3 inhibitors in clinical development: VTX2735, a peripherally restricted inhibitor targeting systemic inflammatory and cardiovascular diseases (currently in Phase 2 for recurrent pericarditis), and VTX3232, a CNS-penetrant inhibitor targeting neurodegenerative diseases like Parkinson's and cardiometabolic conditions like obesity (Phase 2 trials ongoing in both). Sanofi made a $27M strategic investment in Ventyx in exchange for a right of first negotiation for VTX3232. Ventyx also has two deprioritized IBD programs: tamuzimod, an oral S1P1R modulator for ulcerative colitis with positive Phase 2 data where Ventyx is seeking a partner for Phase 3, and VTX958, an oral TYK2 inhibitor for Crohn's disease that missed its Phase 2 primary endpoint. Ventyx funds operations through equity issuance and partnerships, and relies on third-party contract manufacturers. As of March 2024, Ventyx had roughly $302.6M in cash, which management expected to fund operations into at least the second half of 2026.