By – Ethan Bochicchio & Jordan Locy
Innata Bio is an inflammation-modulation platform company at the clinical stage, focused on developing advanced treatments to address aging-related inflammation. Co-founded by USCS’s Dr. Denis Evseenko, Innata Bio has identified a key link between inflammation and cellular aging and has created a patented platform to reverse this process. Innata Bio’s treatment is unique because it does not rely on antibodies or JAK inhibitors but instead modulates gp130, fine-tuning its outputs rather than completely blocking its pathways. In doing so, Innata Bio aims to set a new standard of care, tap into a multi-billion-dollar market, and generate strong returns for its partners and investors.
Last March, while Innata Bio was operating under the name CarthroniX, they received FDA clearance for its CX-011 investigational new drug (IND) for osteoarthritis (OA), marking the transition of its lead therapeutic candidate into clinical trials. This drug was discovered by researchers at the University of Southern California’s (USC) Evseenko Lab, led by Dr. Denis Evseenko. The Evseenko Lab’s animal study showed potential not only for reducing painful hyperinflammation in osteoarthritis but also for promoting tissue regeneration and healing.
Today, under the name Innata Bio, the company has expanded its scope even further. The name change was viewed by team members as a sign of a significant shift in the company’s direction. CEO of Innata Bio, Dr. Hassan Serhan, told Research & Innovation Strategy (RIS), “The transition to Innata Bio is more than a rebranding; it marks our evolution into an inflammation-modulation platform company. This shift broadens our focus beyond localized OA and IPF to high-value systemic targets like Cardiometabolic Disease and MASH.” Serhan outlined ambitious goals, confident in the science Innata Bio is conducting, emphasizing that the rebrand reflects both the strength of the underlying biology and the broad opportunities validated by recent clinical and commercial interest in IL-6/gp130 targeting. Innata is now progressing toward their Series A round, which is structured around three key milestones: 1. Advancing CX-011 into Phase 1/2a in OA (near-term human proof of concept). 2. Completing lead optimization for systemic indications (platform validation). 3. Building the necessary organizational infrastructure to support a multi-asset pipeline.
By 2028, final study results are expected for the OA treatment, and Innata Bio plans to file for breakthrough designation with the FDA. An IND filing is also expected for the IPF treatment, and partnering discussions are anticipated for efforts related to Cardiometabolic Diseases. Innata Bio has a strong network of funding and partnerships to support development and translation. Its academic founders have received $12.5 million in nondilutive funding from sources like the National Institutes of Health and the Department of Defense. This funding has supported the breakthrough that enabled Innata Bio’s gp130 axis modulation and the identification of their first therapeutic indication. Currently, Innata Bio is raising $10 million to move into Phase I/II and pipeline development, in addition to $6.1 million being converted from seed round funding.
CEO Dr. Hassan Serhan is an accomplished executive with extensive experience in technology assessment, development, and strategic leadership of large-scale programs within complex corporate environments. Previously, he served as a Distinguished Fellow and Senior Director of Research & Technology at DePuy Synthes Spine, a Johnson & Johnson company, and as an Assistant Research Professor in the Departments of Neurosurgery and Orthopedics at SUNY University. Co-founder Dr. Ben Van Handel is a distinguished stem cell scientist and entrepreneur recognized for successfully translating cutting-edge research into market-ready therapies. Co-founder Dr. Evseenko holds the J. Harold and Edna LaBriola Chair in Genetic Orthopedic Research and is the Vice Chair for Research and Orthopedic Surgery, as well as a member of Innata Bio’s Scientific Advisory Board. With over a decade of experience, Dr. Evseenko has led translational research and entrepreneurial projects and authored numerous scientific papers and patents. He is joined on the Scientific Advisory Board by Dr. Jay Lieberman, Chief of Orthopedic Surgery Service at USC’s Keck School of Medicine, and Dr. Toby Maher, a professor of Clinical Medicine at USC.
The Alfred E. Mann Institute (AMI) is investing in Innata Bio to advance these drugs to the clinic and ultimately help patients in need. “The AMI is thrilled to invest in [Innata Bio], supporting their early-stage development and journey to the clinic. We are excited about the clinical trial at USC Keck School of Medicine and what it could prove for their lead program, as well as its implications for future drug development in inflammatory disease. [Innata Bio] exemplifies how USC research, funding, and partnerships contribute to a strong innovation ecosystem at the university and beyond,” said Dr. Tariq Warsi, Managing Director of the Alfred E. Mann Institute.
Having received FDA clearance, Innata Bio is ready for important developments soon. They are on track to develop the first injectable drug for knee osteoarthritis, with patient enrollment already underway. Efficacy data is expected by the second quarter of 2026. This is promising progress for Innata Bio and USC, which have contributed groundbreaking research, time, and funding to support Innata Bio’s proposed therapy. The RIS team reached out to the Innata Bio team to discuss this exciting investment.
RIS:
What made you decide that this technology was worth commercializing?
Innata Bio Team:
The decision to commercialize this technology stemmed from a clear unmet need in how we treat osteoarthritis (OA). Traditional therapies primarily reduce inflammation but don’t restore the body’s regenerative potential. Our approach at [Innata Bio]—selectively modulating gp130 signaling, the receptor for cytokines including IL-6 and IL-11—enables us to harness the regenerative power of inflammation itself rather than suppress it. Compelling preclinical data demonstrated that CX-011 not only reduced pain but also regenerated cartilage, a transformative result in osteoarthritis models. These striking data made it evident that this science could and should be translated to help millions of patients worldwide as a potentially first-in-class breakthrough for OA.
RIS:
How did you put yourself into an entrepreneurial mindset, and what challenges did you face early on?
Innata Bio Team:
Transitioning from academia and large-industry R&D to entrepreneurship required a mindset shift—from asking “why” to asking “how”. At [Innata Bio], that meant not only proving the clinical solution but also structuring a business around it—securing IP rights, aligning regulatory milestones, formulating drugs, and building partnerships. Early challenges included bridging the gap between academic discovery and clinical development—especially around funding and scalability. It required assembling a multidisciplinary team of scientists, clinicians, and business leaders who shared a vision, as well as filling multiple roles concurrently. The early stages were defined by limited resources, constant (re-)prioritization, and balancing research rigor with the speed of execution.
RIS:
How has USC enabled you to promote, accelerate, or champion your company?
Innata Bio Team:
USC played a pivotal role by licensing the foundational IP that became the core of our osteoarthritis program (CX-011) to [Innata Bio]. USC has also provided both the institutional support and translational environment needed to move from concept to clinic. The mentorship and clinical collaborations within USC—particularly through leaders like Dr. Jay Lieberman and Dr. Denis Evseenko—helped validate the clinical relevance of our approach and accelerated regulatory readiness. USC’s ecosystem also enhanced our visibility, enabling connections with partners and investors aligned with our translational mission.
RIS:
What was your experience working with the AMI, and how have they empowered the company?
Innata Bio Team:
Working with AMI has helped in transforming [Innata Bio] from a research concept into a clinical-stage company. AMI provided strategic guidance, access to funding, and access to a network that understands both science and entrepreneurship. Their mentorship has helped us and will continue to help us refine our business model and navigate investor relations. AMI’s structured framework will help us to make disciplined, data-driven decisions that will position the company for growth.
RIS:
If you could offer a few words of wisdom to your fellow entrepreneurs and innovators, what would that be?
Innata Bio Team:
Surround yourself with people who challenge your assumptions and balance your blind spots. Don’t wait for perfect data, start building and learning as you go. Entrepreneurship is about adapting quickly, pivoting wisely, and staying true to the science that fuels your vision. You’ll face weekly challenges that may feel overwhelming, and failure will sometimes be part of the journey. Remember, opportunities like this are rare; treat it with the respect it deserves. Stay grounded in the present, lean into the hard moments, and commit fully. To sustain your energy along the way, make a conscious effort to notice and celebrate every win, no matter how small. That attention to progress is what keeps joy and momentum alive.
RIS:
Anything else you would like to share about how the USC Innovation Ecosystem has helped you or could do better?
Innata Bio Team:
The USC Innovation Ecosystem is rapidly advancing how it supports early-stage translational science and connecting innovators with mentors and investors. For future enhancement, expanding post-licensing support—particularly around manufacturing, and clinical trial design—could help companies like ours bridge the “valley of death” between R&D and clinical proof of concept. Being able to engage with folks that have done it before as well as understand the startup circus will be invaluable.
For more information on AMI or AMI-related inquiries, contact Tariq Warsi at twarsi@usc.edu or visit innovation.usc.edu