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Innova Therapeutics is a Charleston, South Carolina based biotechnology company developing a monoclonal antibody (mAb) platform targeting a protein that is highly expressed in various solid cancers and shown to correlate with patient outcome. The lead humanized mAb has been selected and is designated as IVT-8086. Innova’s platform technology is initially focused on targeting cancers including pediatric osteosarcoma, sarcomas, breast cancer and pancreatic cancer. The opportunity for this anticancer therapy as a monotherapy and in combination with other chemotherapy agents will expand across other solid tumors. The focus on pediatric osteosarcoma as one of the initial targets will allow a fast-regulatory approval, with the opportunity to obtain a Rare Pediatric Disease priority review voucher. Because Priority Review Vouchers (PRVs) may be sold, a secondary market for the vouchers has emerged, with revenue ranging between $80M and $350M.

The Innova team includes industry leaders with broad pharmaceutical development experience including extensive successful cancer therapy development, as well as life science leadership, manufacturing, preclinical research and safety, business development and regulatory. The team is led by one of the co-founders and CEO, Robert Ryan, Ph.D., who is a successful serial biotech entrepreneur.

The Innova management team was previously the management team in the biotech, Scioderm. Scioderm was the first biotech to receive “Breakthrough Therapy” designation from the FDA for their therapy for an orphan disease. In addition, Dr. Ryan led the successful sale of Scioderm to Amicus in 2015 for approximately $957M (4th largest venture capital (VC) backed exit of 2015 in the biotech/pharmaceutical space), in a period of less than 2.5 years from initiation of the company with a total spend of less than $22M.

InorbitTX is a virtual drug discovery and development company focussed on the treatment of fatty liver diseases NAFLD / NASH. Its lead project, the FXR agonist IOT022 is currently in late pre-clinical testing. IOT022 differentiates very well from competitor compounds, as it mitigates the risk for pruritus and for drug induced liver injury, seen with competitors. It gives IOT022 an excellent best-in-class opportunity. InorbitTX second project is a KHK inhibitor, IOT038, also for the treatment of NAFLD / NASH.IOT038 shows excellent astute efficacy in animals We look for funding to complete for IND and for Phase I. We also look for partnering for the Chinese / Asian market.