NASH stands for Non-Alcoholic Steato-Hepatitis. It is a type of non-alcoholic fatty liver disease (NAFLD). It is a condition where excess fat is stored in the liver, not caused by heavy alcohol use. NASH is more severe as the excess fat eventually causes inflammation of the liver. This leads to fibrosis or scarring of the liver. In the long run, NASH can lead to cirrhosis or liver cancer. It is a common yet silent disease that is difficult to diagnose, with no approved treatment available. By the year 2020, it is estimated that NASH will be the leading cause of liver transplantation in the US.

1. Currently Emerging: NASH
(Non-alcoholic steato-hepatitis)
Increasing Predicament
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2. WHAT IS NASH?
NASH stands for non-alcoholic
steato-hepatitis. It is a type of
Non-alcoholic fatty liver
disease (NAFLD).
NAFLD is a condition in which
excess fat is stored in your
liver. This buildup of fat is not
caused by heavy alcohol use
(which causes actual alcoholic
liver disease).
Source: https://www.niddk.nih.gov/health-information/liver-disease/nafld-nash/definition-facts
There are 2
types of
NAFLD: NAFL
(simple fatty
liver) & NASH

3. Simple fatty liver and NASH are
two separate conditions.
Simple fatty liver, also called
non-alcoholic fatty liver (NAFL),
is a form of NAFLD in which you
have fat in your liver but little or
no inflammation or liver cell
damage.
Simple fatty liver typically does
not progress to cause liver
damage or complications.
NAFLD & Simple Fatty Liver
Source: https://www.niddk.nih.gov/health-information/liver-disease/nafld-nash/definition-facts

4. NAFLD & NASH
NASH is a form of NAFLD in
which you have hepatitis—
inflammation of the liver—
and liver cell damage, in
addition to fat in your liver.
Inflammation and liver cell
damage can cause fibrosis,
or scarring, of the liver. NASH
may lead to cirrhosis or liver
cancer.
Source: https://www.niddk.nih.gov/health-information/liver-disease/nafld-nash/definition-facts

5. Source: https://www.the-nash-education-program.com/what-is-nash/key-figures/
NASH is a silent disease,
and difficult to diagnose,
even though promising
programs are currently in
development.
NAFLD is growing to
become the most common
chronic liver condition in
Western populations.
Common yet SILENT DISEASE

6. Known PREVALENCE/RISKS
Obese
Type 2
Diabetes
High Blood
Pressure
High
Cholesterol
Metabolic
Syndrome
Smoking
Over 50
Source: https://www.nhs.uk/conditions/non-alcoholic-fatty-liver-disease/

7. STAGES OF NAFLD
Most people will only ever develop
the first stage, usually without
realizing it.
In a small number of cases, it can
progress and eventually lead to
liver damage if not detected and
managed.
It can take years for fibrosis or
cirrhosis to develop.
Source: https://www.nhs.uk/conditions/non-alcoholic-fatty-liver-disease/
Steatosis
NASH
Fibrosis
Cirrhosis
Abnormal retention of lipids
within an organ
Inflammation and liver cell
damage
Scarring occurs, causing liver
to not work as well
Liver in degenerative state,
shrinks and becomes scarred
and lumpy
Eventual liver failure

8. NASH Prevalence: Ethnicity
A study of NAFLD prevalence
was done on one of the
largest database in the
United States (12,317
individuals).
It concluded that 34% of the
general population of the
United States were affected
by NAFLD, amounting to at
least 42 millions of adults.
Source: https://www.the-nash-education-program.com/what-is-nash/key-figures/

9. NASH Prevalence: Obesity
According to OECD, 47% of
adult population in the United
States will suffer from obesity
by 2030, compared to 37.7% in
2014.
NAFLD is highly prevalent in
populations suffering from
obesity. A study from more than
1,600 individuals who had
bariatric surgery revealed a
prevalence of 37% towards
NASH.
Source: https://www.the-nash-education-program.com/what-is-nash/key-figures/

10. NASH Prevalence: Type-2 Diabetes
On a global scale, the rates of
diabetes are expected to grow
by 55% by the year 2035
according to the International
Diabetes Federation.
This means that this population
at risk of NAFLD/NASH will
increase dramatically over the
next decades.
Source: https://www.the-nash-education-program.com/what-is-nash/key-figures/

11. COST Of Liver Transplant
NASH is expected to become
the leading cause of liver
transplantation by 2020.
On average, liver transplant
procedures may cost as little as
USD100k for insured patients
and can go up to USD575k.
It is estimated that on an annual
basis, total costs spent on liver
transplantation by Americans
can reach up to USD3.4 billion.
Source: https://health.costhelper.com/liver-transplant.html

12. Increasing Prevalence: Children & adolescents
Non-alcoholic fatty liver
disease in children is a
major health concern for
the medical community.
A study conducted in the
United States in more than
8,500 individuals estimated
that 10% of US adolescents
were affected by NAFLD,
and 3% by NASH.
Source: https://www.the-nash-education-program.com/what-is-nash/key-figures/
Therefore, NAFLD has been diagnosed in people without
any of the known risk factors, including young children.

13. On-Going Research & Key Players
The market is forecast to be USD 20-35
billion as populations with fatty diets
increasingly fall victim to a condition with
no approved treatments available.
Notable companies: Pfizer, Bristol-Myers
Squibb, Gilead Sciences & Allergan.
First-in-market potential:
• Intercept Pharmaceuticals
• Galectin Therapeutics
• Genfit
• Galmed Pharmaceuticals
• Enanta Pharmaceuticals
• Durect Corp
• Tiziana Life Sciences
Source: https://www.reuters.com/article/us-health-liver-nash-insight/nash-the-next-
untapped-pharma-market-gives-investors-many-options-idUSKBN17Q0D5
First-in-market Potential
Key Players

14. CONCLUSION
• NASH is a form of NAFLD in which you have hepatitis—
inflammation of the liver—and liver cell damage, in addition to
fat in your liver.
• NASH is expected to become the leading cause of liver
transplantation by 2020.
• NASH remains to be a silent disease that is difficult to
diagnose. It is growing to become the most common chronic
liver condition in Western populations.
• Investors and key players are on the lookout for promising
initiatives that can treat NASH effectively.

15. By xeraya capital
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