Daewoong Pharmaceutical said Wednesday that it has signed a licensing agreement with Innovo Therapeutics to develop INV-008, a treatment candidate for inflammatory bowel disease (IBD).
The deal marks Daewoong’s expansion beyond conventional immune-suppressant IBD therapies into treatments aimed at regenerating damaged intestinal mucosa.
Daewoong Pharmaceutical Co-CEO Park Seong-soo (left) and Innovo Therapeutics CEO Park Hee-dong pose after signing a business agreement. (Courtesy of Daewoong Pharmaceutical)
The company said it plans to lead global clinical development and commercialization efforts beginning in early-stage clinical trials, while also pursuing additional indications and potential out-licensing opportunities as part of its gastrointestinal disease pipeline strategy.
The partnership also reflects Daewoong’s broader open innovation approach focused on shared development and commercialization roles rather than simple technology acquisition.
Under the agreement, Daewoong will lead global clinical development and commercialization, while Innovo Therapeutics will focus on AI-based drug discovery and early-stage research and development. Daewoong will hold commercial rights under the deal, while Innovo Therapeutics will continue developing its platform technologies, the company said.
The total value of the agreement is about 662.5 billion won ($439 million), including an upfront payment of 6.5 billion won and milestone payments of up to 656 billion won tied to clinical development milestones.
Daewoong said its interest in INV-008 stems from unmet medical needs in the IBD treatment market. IBD, including Crohn's disease and ulcerative colitis, is a chronic condition characterized by recurring abdominal pain, diarrhea and bloody stools.
Although multiple therapies are already available, limitations remain in maintaining long-term remission, preventing recurrence and achieving mucosal healing.
“Mucosal healing” has emerged as an important goal in next-generation IBD treatment development. The concept focuses on restoring damaged intestinal tissue as well as controlling inflammation.
INV-008 is an oral drug candidate designed to promote mucosal healing by prolonging the activity of prostaglandin E2 (PGE2), a substance involved in intestinal mucosal regeneration. The drug inhibits 15-PGDH, an enzyme that breaks down PGE2, with the aim of supporting tissue repair.
According to Daewoong, preclinical studies showed both mucosal regeneration and anti-inflammatory effects, while also supporting the drug’s safety profile.
The company said the mechanism differs from existing biologics and JAK inhibitors, which primarily target immune and inflammatory signaling pathways. Daewoong added that INV-008 could potentially be combined with existing therapies in the future.
Daewoong also said the regenerative medicine approach behind INV-008 may have applications beyond intestinal diseases, including muscle disorders and osteoporosis.
“This agreement goes beyond a simple technology transfer and represents a strategic partnership in which both companies will jointly lead development from the early clinical stage through global commercialization,” Daewoong Pharmaceutical Co-CEO Park Seong-soo said.
Innovo Therapeutics CEO Park Hee-dong said INV-008 is designed to promote intestinal mucosal regeneration rather than simply suppress inflammation and could offer a new treatment approach for IBD.
Kim Ji-hye
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