Innovac Therapeutics, an mRNA therapeutics company based in Boston, MA, Shanghai, and Hangzhou, China, has raised $18 million in Series Pre-A funding. The round was led by Elikon Venture, with participation from Vision Plus Capital, Yunion Healthcare Ventures, TG Sino-Dragon Fund, and other industry and private investors.
Innovac will use the funds to further develop its technology platform and manufacturing capabilities and to advance its lead programs to the clinical stage. The company is developing vaccines and therapeutics for patients with unmet medical needs using its proprietary mRNA technology platforms. Innovac was founded in 2022 by CEO Michael Zhang, CTO Hang Yuan, PhD, Chief Scientific Officer, and Nicholas Valiante.
The company's scientific advisory board (SAB) includes David Bernstein, MD, Shan Lu, MD, PhD, and Elaine Mardis, PhD. The funding and SAB appointments are a significant milestone for Innovac, and position the company well to advance its mission of developing innovative mRNA-based therapies for patients with unmet medical needs.
