Park, Hee Dong, CEO of Innovo Therapeutics
Aiming for IND approval from the Ministry of Food and Drug Safety in the first quarter of next year for a Phase 3 clinical trial of its representative product, the scar treatment agent ‘INV-001’
The world's first proven treatment that inhibits HSP47, the key protein causing scars
It’s representative product is the scar treatment agent ‘INV-001.’ This is a repositioned drug product discovered using the new drug discovery platform DeepZema®. Drug repositioning refers to the process of identifying new therapeutic uses for drugs that have already been approved or are currently in development for other indications.
“One of its main advantages of this is that it can dramatically reduce the costs and time involved in new drug development. The scar treatment candidate ‘INV-001’ inhibits HSP47 (Heat Shock Protein 47), a protein essential for collagen biosynthesis, thereby blocking collagen production as well as its transport and secretion outside the cell. By targeting this protein, it’s possible to prevent and treat scars following injury or surgery.”
As there are currently no scar treatment agents approved as prescription drugs anywhere in the world, INV-001 is expected to generate significant clinical and commercial value as a first-in-class drug once its clinical efficacy and safety are proven and it receives approval. The company is preparing to submit an IND application for a Phase 3 clinical trial to the Korean Ministry of Food and Drug Safety.
“INV-001 is the world’s first candidate substance under development to demonstrate a scar-inhibiting effect through a mechanism that inhibits the HSP47 protein, the fundamental cause of scar formation, in a Phase 2 clinical trial. As there is currently a limited number of approved prescription drugs available, INV-001 is a first-in-class drug that can address unmet medical needs and resolve patients’ concerns. It has a very high potential for success.”
The safety and efficacy of INV-001 have already been demonstrated in a clinical trial targeting Phase 2 patients. Based on the AI-augmented drug, its differentiated mechanism of action, and its unrivaled market positioning, INV-001 is competitive enough to become the first approved topical scar treatment agent on the global market.
“In new drug development, establishing sales channels is just as important for business as developing the drug product. For this reason, Innovo Therapeutics established a dedicated business development (BD) departmen and is actively pursuing joint development and business partnerships both at home and abroad. We currently have one full-time BD specialist working in the US and one in Korea who are pursuing business partnerships with pharmaceutical companies, including major global players. We have been in discussions with several domestic and international companies, and are trying to identify the most appropriate partner to help us bring INV-001 to market.”
What made CEO Park decide to start a new company? “Actually, new drug development requires large inputs of time and money. So in large corporations with complex decision-making structures, investment decisions for project development tend to be made rather slowly. I thought that if I could just smooth out the process of securing the research funding necessary for new drug development, then through a bio-venture with a rapid decision-making structure, I would be able to take on more new drug research projects. This would help more patients suffering from unmet medical needs receive effective drugs in time. So I chose the venture path. It’s also important to note that in recent years, South Korea has been actively supporting the research and development of new drugs. Our team is small, but the expansion of various institutional supports, starting with the Korea Drug Development Fund, gave me the confidence that we would be able to execute projects quickly and flexibly in areas that large corporations would find difficult. Ultimately, these experiences and environmental changes motivated me to launch a startup.”
CEO Park said, “We are confident that we can increase our chances of success by predicting and managing toxicity risks in advance through our in-house AI platform.”
“However, it was not easy to attract initial funding based on these technical advantages alone. In the end, investors put the greatest weight on the reputation and trustworthiness of the startup’s founder. Our startup team already had a reputation for conducting research honestly and ethically with LG Life Sciences, which we’d built up over a number of years. This trust became the foundation that allowed us to secure initial investment. Ultimately, I believe that the combination of trustworthy people and technical prowess is the most important foundation for securing startup funding.”
Innovo Therapeutics has gone through two rounds of investment attraction since it was founded. The company received KRW 10 billion in series A investments in 2019, and used it to establish a foundation for new drug research. After that, it began developing new drugs using the AI platform DeepZema®. In 2021, the company received a further KRW 30 billion in series B funding. It aims to complete series C funding this year.
Regarding future plans, CEO Park said, “Innovo Therapeutics’ ultimate goals are to improve quality of life by developing new drugs, to achieve sustainable growth, and to contribute to society,” and added, “In the short term, by 2030, we aim to establish ourselves as a leading Korean biotech company with financial stability and a foundation of ethical management.”
Date of Establishment: March 2019
Main Business: NCE research and development utilizing an AI-based new drug discovery platform
Performance: Received FDA approval for a Phase 2 clinical trial of INV-101 for the treatment of ulcerative colitis in July 2025 (US), completed a Phase 1 clinical trial of INV-101 for the treatment of ulcerative colitis in April 2025 (US), signed a joint research and technology transfer option agreement for INV-010 with RigaChem Biosciences in December 2024, completed a Phase 2 clinical trial of INV-001 for the treatment of scars in August 2024 (KR), received MFDS approval for a Phase 2 clinical trial of INV-001 for the treatment of scars in November 2022 (KR), received FDA approval for a Phase 1 clinical trial of INV-101 for the treatment of ulcerative colitis in March 2022 (US)
reporter jinho lee
jinho2323@hankyung.com
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