Invenra
Invenra is a private Madison, Wisconsin-based biotechnology company that operates the proprietary B-Body® bispecific and T-Body™ trispecific antibody platforms, serving pharmaceutical and biotech clients through discovery services, co-development partnerships, and platform licensing agreements.
- Company typePrivate
- Founded2011
- HeadquartersMadison, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Invenra does
Invenra is a privately held biotechnology company headquartered in Madison, Wisconsin (11-50 employees, founded 2011) that operates a proprietary bispecific and trispecific antibody discovery platform serving pharmaceutical and biotechnology clients. The company's core technology is the B-Body® bispecific antibody platform — a human IgG-like scaffold engineered with proprietary CH3 domain substitution technology that ensures perfect heavy/light chain pairing, achieves industry-leading expression yields of 6-11 g/L, and enables 95% single-pass purity via a unique CH1 affinity purification handle, plus the recently launched T-Body™ trispecific platform that integrates three Fab arms into a single IgG-like structure (>100 µg/mL yields). Both platforms are powered by 30+ proprietary phage display libraries (each with over 1 billion unique primary clones built on clinically validated human germline frameworks) and a 12x12 matrix screening workflow that evaluates 288 bispecific combinations per campaign to deliver clinical-ready lead panels in 2-4 months. The platforms are validated across a 15x15 matrix of clinical-stage antibodies with >99% meeting purity and yield criteria, and produce molecules compatible with standard Protein A/IEX/UF/DF CMC workflows and subcutaneous delivery up to 170 mg/mL.
Invenra's business model blends fee-for-service engagements with collaborative drug development and platform licensing. The company generates revenue through three streams: per-project discovery services priced at $100,000-$399,000 (Rapid Antibody Discovery partnership projects), the B-Body Express™ antibody expression service at 50/200/500 mL scales with 4-week turnaround, and royalty/licensing income tied to partnered programs (including a 20% royalty on Twist Bioscience-originated clinical-trial licenses and milestone economics on Exelixis Phase 1 assets XB628 and XB010). The February 2026 co-exclusive B-Body® licensing deal with Twist Bioscience — $5M cash, $15M Twist common stock, and $13.8M for ~6% equity at an implied $230M pre-money valuation — represents the company's largest commercial milestone to date and structurally extends its go-to-market via Twist's antibody discovery sales force.
The customer base is concentrated in oncology-focused pharmaceutical and biotech companies, with named enterprise partners including Exelixis (ongoing collaboration since 2018, expanded in 2019 and 2021, with two Phase 1 bispecific assets), Astellas Pharma (strategic research agreement, April 2024), Catalent (bispecific ADC collaboration, April 2024), Orion (discovery and commercial license, January 2025), Xcellon Biologics (multispecific ADC, October 2025), and Twist Bioscience (co-exclusive license, February 2026). Beyond partnered programs, Invenra is developing internal pipeline assets including INV724, which received FDA Rare Pediatric Disease and Orphan Drug Designations for neuroblastoma in August 2024.
Invenra firmographics
Firmographics- Name
- Invenra
- Legal name
- Invenra Inc.
- Website
- https://invenra.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Invenra is a private Madison, Wisconsin-based biotechnology company that operates the proprietary B-Body® bispecific and T-Body™ trispecific antibody platforms, serving pharmaceutical and biotech clients through discovery services, co-development partnerships, and platform licensing agreements.
- Ownership category
- akta.pro rank
Invenra industry classification
Industry- Product category
- Biologics Discovery and Antibody Therapeutics
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Services-Commercial Physical & Biological Research (8731), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Bispecific & Multispecific Antibodies (HLAAAAAF)
- akta.pro secondary industry
- Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)
Keywords
Where Invenra is headquartered
LocationHeadquarters
- HQ city
- Madison
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Invenra business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Licensing Royalties (B-Body Platform): Invenra receives a 20% royalty on all license revenue generated from customers entering human clinical trials with B-Body bispecifics developed via the co-exclusive Twist Bioscience licensing agreement.
- Discovery Service Fees: Fee-for-service antibody discovery campaigns delivering lead panels in 4 months. The Rapid Antibody Discovery service is priced at $100,000 for partnership projects (up to $399,000 value), providing high-quality monoclonal and bispecific antibody leads via phage display.
- Antibody Expression Services: High-purity antibody expression services at multiple scale tiers (50mL, 200mL, 500mL) with 4-week turnaround. Revenue generated per-project with flexible commercial licensing options.
- Equity Investment from Partners: In February 2026, Twist Bioscience acquired approximately 6% ownership in Invenra through a $13.8 million preferred stock purchase as part of the B-Body licensing agreement, providing non-dilutive capital.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Partnership Project - Rapid mAb Discovery at $100,000 (Limited Time Offer) |
| Unit Pricing | Multi-year contract | Standard Partnership Project - Up to $399,000 |
| Unit Pricing | Pay-as-you-go | B-Body Express™ Antibody Expression - Scale-based tiers |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Invenra product offering
Product offeringCore offering
Invenra discovers and develops bispecific and trispecific antibody therapeutics using its proprietary B-Body® and T-Body™ platforms, built on human IgG-like scaffolds. The company sells fee-for-service antibody discovery campaigns (4-month delivery of lead panels) and antibody expression services (B-Body Express™), while also licensing its platforms to pharmaceutical and biotech partners for co-development and clinical advancement.
Differentiator
Problem solved
Functional benefit
Products and services
- B-Body® Bispecific Antibody Platform Proprietary human IgG-like bispecific antibody platform engineered with CH3 domain substitution technology that ensures perfect chain pairing, achieving industry-leading yields of 6-11 g/L, high solubility, low viscosity for subcutaneous delivery, and 95% single-pass purity via CH1 affinity purification. Licensed to pharmaceutical and biotech partners for co-development and clinical advancement of bispecific therapeutics.
- T-Body™ Trispecific Antibody Platform Next-generation trispecific antibody platform integrating three Fab arms into a single IgG-like structure using proprietary CH3 domain pairs. Delivers expression yields exceeding 100 µg/mL in HEK and CHO cells, single-step CH1 purification achieving >90% purity, and simultaneous targeting of three distinct antigens for enhanced therapeutic potential in complex diseases including solid tumors. Available to pharmaceutical and biotech partners for co-development.
- Rapid Antibody Discovery Service Fee-for-service antibody discovery campaign deploying 30+ proprietary phage display libraries (>1 billion unique clones each) and the 12x12 matrix screening workflow to deliver lead panels of high-quality monoclonal and bispecific antibodies in 4 months. Priced at $100,000 for partnership projects (versus up to $399,000 standard). Targets pharmaceutical and biotech partners seeking rapid, high-quality antibody leads for therapeutic development.
- Bispecific Discovery Service Service offering utilizing the 12x12 matrix screening workflow to evaluate 288 total B-Body bispecific combinations in two orientations per campaign, delivering clinical-ready bispecific molecules in 2-4 months. Targets pharmaceutical and biotech partners developing bispecific antibody candidates in oncology and other complex disease indications.
- B-Body Express™ Antibody Expression Service Rapid antibody expression service delivering high-purity monoclonal and B-Body bispecific antibodies in as little as 4 weeks from DNA construction. Available at flexible scales of 50mL, 200mL, or 500mL with two-step purification and no material retention caps. Serves pharmaceutical and biotech clients needing quick access to expressed antibodies for research, screening, or preclinical studies.
Quantifiable outcome
- 6-11 g/L bispecific antibody yield (vs. typical bispecific platforms)
- +5 more outcomes
Companies that use Invenra
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
Invenra technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Invenra partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, supporting, major and foundational.
- Twist BiosciencecoreTwist Bioscience entered a co-exclusive licensing agreement with Invenra for the B-Body® bispecific antibody platform. Under the deal, Twist pays Invenra $5 million in cash and $15 million in Twist common stock upfront, and takes approximately 6% ownership in Invenra through a $13.8 million preferred stock purchase. Twist will retain all revenue from bispecific antibody discovery services and pay Invenra a 20% royalty on all license revenue from customers entering human clinical trials with B-Body bispecifics.
- Xcellon BiologicscoreInvenra and Xcellon Biologics announced a strategic collaboration to develop multispecific antibody-drug conjugates (ADCs). Invenra leverages its proprietary multispecific antibody platforms to create novel bispecific and trispecific ADCs, while Xcellon Biologics provides bioconjugation and GMP manufacturing capabilities. The partnership accelerates ADC development from discovery through preclinical and clinical stages.
- Dr. Alan J. Korman (Scientific Advisory Board)supportingDr. Alan J. Korman, former VP of Immuno-Oncology Discovery at Bristol-Myers Squibb and key figure in the discovery of Yervoy and Opdivo, joined Invenra's Scientific Advisory Board in July 2025. He brings over 30 years of immunotherapy and biotechnology experience.
- OrioncoreInvenra and Orion announced a discovery service and commercial license agreement in January 2025 to develop innovative bispecific antibody cancer therapeutics.
- Astellas PharmacoreInvenra entered a strategic research agreement with Astellas Pharma in April 2024 focused on therapeutic bispecific antibody discovery.
- CatalentmajorInvenra entered a strategic collaboration with Catalent in April 2024 to co-discover novel bispecific antibody-drug conjugates (ADCs), combining Invenra's multispecific antibody platforms with Catalent's bioconjugation and manufacturing capabilities.
- WARF (Wisconsin Alumni Research Foundation)foundationalInvenra and WARF initiated a collaboration in January 2019 to discover and develop novel therapeutics to fight neuroblastoma, leveraging Invenra's antibody discovery capabilities and WARF's research support.
- ExelixiscoreInvenra and Exelixis have maintained an ongoing collaboration in oncology biologics discovery and development since 2018, expanded in 2019 and 2021. Exelixis has advanced multiple bispecific antibody candidates into Phase 1 clinical studies, including XB628 for recurrent/metastatic solid tumors and XB010 for advanced solid tumors.
- QIMR Berghofer Medical Research InstitutesupportingInvenra entered a collaboration with QIMR Berghofer Medical Research Institute in February 2017 to discover therapeutic antibodies.
- AgonOxsupportingInvenra entered a collaboration with AgonOx in December 2016 to discover therapeutic antibodies against a novel immuno-oncology target.
- Oxford BioTherapeuticssupportingInvenra entered a collaboration with Oxford BioTherapeutics in June 2015 to discover novel therapeutic antibodies against a novel cancer target.
Scale indicators3 records
Recent moves6 records
Expansion highlights7 records
Invenra competitors and assessment
Company assessmentDirect peers
- Zymeworks: Clinical-stage biotechnology company developing multifunctional therapeutics via its Azymetric, ZymeLink, and Effitech bispecific/multispecific antibody platforms — directly comparable to Invenra's B-Body and T-Body platforms in target customers, modality, and therapeutic focus on oncology.
- Xencor: Clinical-stage biotech commercializing the XmAb bispecific antibody platform (e.g., Pluvicto precursor technologies, obexelimab) with a heavy focus on antibody engineering for immune-mediated diseases and oncology — directly comparable as a bispecific platform licensor serving pharma partners.
- Genmab: Mature, publicly-traded antibody therapeutics company behind the Duobody bispecific platform used in approved products like Rybrevant (with Janssen) — directly comparable as a leading bispecific antibody platform licensor and drug developer with a similar pharma partnership model.
- Numab Therapeutics: Private Swiss biotech developing multispecific antibody therapeutics using a proprietary platform — directly comparable to Invenra's T-Body trispecific and B-Body bispecific discovery approach, with similar out-licensing and co-development business model targeting pharma partners.
- Adimab: Private antibody discovery platform company using proprietary yeast display libraries to deliver optimized monoclonal and bispecific leads to pharma partners — directly comparable as a fee-for-service and partnership-based antibody discovery platform serving similar biotech and pharma customers.
- AbCellera: Public antibody discovery company combining proprietary single-cell screening, AI, and partnerships to discover therapeutic antibodies for pharma — directly comparable as a technology-driven antibody discovery platform with a similar partner-centric GTM model, though larger and broader in scope.
- Integral Molecular: Private biotech specializing in antibody discovery against difficult membrane protein targets using proprietary platforms — closely comparable to Invenra's phage display-based discovery workflow, with a similar pharma partnership and services business model.
Broad incumbents
- WuXi Biologics: Global, publicly-traded biologics CRO/CDMO offering end-to-end antibody discovery, development, and manufacturing services — broadly comparable as a large incumbent serving pharma with bispecific capabilities, though operating at vastly greater scale across the full biologics value chain.
- Regeneron: Large public biopharma with the proprietary VelociSuite antibody platforms (including VelociBi bispecifics used in Linvoseltamab and other clinical assets) — comparable as an established player operating a bispecific antibody platform internally, though Regeneron's platform is captive rather than licensed externally.
Others
- Twist Bioscience: Public synthetic biology company that recently became Invenra's co-exclusive B-Body licensing partner and ~6% equity holder — adjacent/enabling rather than directly competitive, but a key channel partner that distributes Invenra's bispecific platform alongside its own antibody discovery offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Invenra social profiles
Digital presenceInvenra financial estimates
Financial estimateRevenue estimate
Valuation estimate
Invenra leadership team
Management profileNumber of profiles
Profiles16 records
Invenra funding detail
Funding detailFunding overview
Funding rounds8 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Invenra M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Invenra
What does Invenra do?
Invenra discovers and develops bispecific and trispecific antibody therapeutics using its proprietary B-Body® and T-Body™ platforms, built on human IgG-like scaffolds. The company sells fee-for-service antibody discovery campaigns (4-month delivery of lead panels) and antibody expression services (B-Body Express™), while also licensing its platforms to pharmaceutical and biotech partners for co-development and clinical advancement.
Is Invenra a public or private company?
Invenra is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Invenra founded?
Invenra was founded in 2011. It employs 11 to 50 people.
Where is Invenra based?
Invenra is headquartered in Madison, United States, in the North America region.
How does Invenra make money?
Four revenue lines are on record. Licensing Royalties (B-Body Platform) is the primary driver. The others are discovery Service Fees, antibody Expression Services and equity Investment from Partners.
Who are Invenra's main competitors?
Direct peers on record are Zymeworks, Xencor, Genmab, Numab Therapeutics, Adimab, AbCellera and Integral Molecular. Broad incumbents are WuXi Biologics and Regeneron. Twist Bioscience is listed as an others.
Does Invenra have an API?
No public API is recorded for Invenra.
What industry is Invenra in?
Invenra's product category is Biologics Discovery and Antibody Therapeutics. Its primary akta.pro industry code is HLAAAAAF, Bispecific & Multispecific Antibodies, with a secondary code of HLAAAIAB, Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering). Its NAICS code is 541714 and its SIC code is 8731.