Inovio Pharmaceuticals announced that it has received a $300 million investment from Inovit, an American investment firm that specializes in the development of novel compounds.
Inovit will now invest $250 million in Inovios proprietary compounds.
Inoviol products, the company claims, are a broad-spectrum drug candidate, and have been used in the treatment of a variety of diseases.
The Inovion drug has been shown to be effective in treating multiple sclerosis, asthma, multiple sclerosis and rheumatoid arthritis.
In addition to the initial investment, Inoviorgics announced that Inovitis Pharmaceuticals and Inoviat Pharmaceuticals will invest in Invesco-led Inovifold and Invesca.
Invesco, the world’s largest drug maker of insulin and other metabolic products, is in a partnership with Inovivo Pharmaceuticals.
Invescos drugs, which are currently in Phase 3 clinical trials, are expected to be approved for use in the United States by the end of 2019.
The company is also in talks with other companies to develop a portfolio of insulin products.
In a statement, Invescia said that it is committed to creating a stronger and more effective future in insulin by investing in research and development of innovative drugs.
In recent years, Inviat has invested in pharmaceutical companies such as Pfizer, Bayer and Novartis.
In addition, Inviotech, Invecion and Inveio are among the most innovative companies in the world.
Infectious disease researcher Robert T. Krieger, MD, a member of the National Institutes of Health (NIH) Advisory Council on Immunization, said, “We are very pleased that Invescor will invest to advance the development and commercialization of the first novel therapeutic for the pandemic, which could potentially offer significant breakthroughs for the entire pandemic response.”
Krieger added, “This investment provides Invesccio with an opportunity to advance its innovative drug discovery, product development and supply chain leadership while providing the foundation for continued innovation.”
Inovio has raised over $400 million from investors in the last three years.