IpiNovyx Bio Closes $10 Million Seed Financing to Advance Best-in-Class Immunoproteasome Inhibitors Toward First-in-Human Clinical Studies
IpiNovyx Bio, a biopharmaceutical company developing a platform of best-in-class immunoproteasome modulating therapeutics to transform treatment of autoimmune and inflammatory diseases, announces the closing of a $10 million seed financing round to support the continued advancement of its lead drug candidates toward first-in-human clinical studies, including submission of the company’s first investigational new drug (IND) application.
IpiNovyx was founded by Orange Grove Bio, a preclinically-focused capital allocation and asset development biotech firm, alongside scientific founders Franck Barrat, PhD, researcher at HSS, Gang Lin, Ph.D. and Carl Nathan, M.D. of Weill Cornell Medicine.
The fundamental technology being advanced by IpiNovyx is based on pioneering science conducted in Drs. Lin and Nathan’s laboratories in collaboration with Dr. Barrat’s laboratory at the HSS Research Institute. Notably, the preclinical research suggests the compounds may possess a favorable toxicity profile as compared to immunosuppressive therapies based on their ability to inhibit immune responses without killing immune cells.
Read the full press release at Globenewswire.com.