Innovo Therapeutics is a biotech focused on targeted protein degradation, developing both molecular glues and PROTACs via a diversified protein degradation discovery platform. The company says it has built a fully owned R&D platform and assembled experienced teams across synthetic chemistry, DMPK, translational medicine and more. Its team includes drug-discovery veterans who have led or participated in programs such as CC-94676, CC-99282, CC-90009 and CC-92480, and is led by Dr. Xie Weilin, who previously led protein-degradation efforts at Celgene. Innovo operates with an innovation center in San Diego and a domestic base in China to support global pipeline development. The company plans two IND-enabling programs next year and expects to submit its first IND in the coming year. The just-completed financing will fund preclinical work for two degraders with First-in-Class potential. Innovo Therapeutics focuses on discovering and developing targeted protein degradation (TPD) oncology drugs using two complementary platforms. The company has built a high‑throughput integrated screening system and a high‑quality compound library to accelerate candidate identification. Its core team includes leaders with decades of drug‑discovery experience who previously led PROTAC and molecular glue programs at U.S. firms and advanced related assets into the clinic. Innovo has assembled multiple oncology and tumor‑immunity pipelines and recently acquired global rights to an acute myeloid leukemia (AML) program, planning a clinical push in 2023. The company intends to use new funding to expand the two TPD platforms and advance several tumor and tumor‑immune drug candidates toward clinical development.

Total raised

$29M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2023