Inovio Pharmaceuticals

What Inovio Pharmaceuticals does

Inovio Pharmaceuticals is a clinical-stage biotechnology company developing DNA medicines for HPV-related diseases, oncology, and infectious diseases, built around its proprietary CELLECTRA electroporation delivery platform and SynCon plasmid design technology. Its lead candidate, INO-3107, is a DNA immunotherapy targeting HPV-6 and HPV-11 that cause Recurrent Respiratory Papillomatosis (RRP); the FDA accepted its Biologics License Application in December 2025 with a PDUFA target date of October 30, 2026. The pipeline also includes VGX-3100 for cervical dysplasia (licensed to ApolloBio for Greater China), INO-5401 and INO-5412 in oncology, and infectious disease vaccines (INO-4800 for COVID-19, INO-4500 for Lassa, INO-4700 for MERS, PENNVAX-GP for HIV), with next-generation platforms spanning DMAbs, dLNPs, and DPROT.

The company is pre-revenue with no approved products and has funded operations primarily through repeated public equity offerings totaling approximately $103.5 million between April 2024 and April 2026, ending Q1 2026 with $37.7 million in cash plus an additional $16 million from the April 2026 offering, projected to fund operations into Q1 2027. Revenue is expected to derive from US specialty/rare-disease product sales of INO-3107 through ENT specialists and academic medical centers upon approval, supplemented by licensing and milestone payments (e.g., up to $20 million plus tiered royalties from ApolloBio upon VGX-3100 approval in China) and co-development partnerships with Akeso (glioblastoma), Coherus (HPV-associated cancers), AstraZeneca, Regeneron, the NIH, and DARPA. Leadership and board depth is anchored by veterans of Merck's HPV Vaccines Franchise, Pfizer Oncology, Seagen, Novartis, and Sanofi, with a recently hired Chief Commercial Officer focused on launching the first US DNA medicine.

Name

Inovio Pharmaceuticals

Legal name

Inovio Pharmaceuticals, Inc.

Website

https://inovio.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Inovio Pharmaceuticals is a clinical-stage biotechnology company developing DNA medicines delivered via its proprietary CELLECTRA electroporation devices, targeting HPV-related diseases, oncology, and infectious diseases, with lead candidate INO-3107 under FDA review for recurrent respiratory papillomatosis.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals (DNA Medicines)

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Plasmid DNA & mRNA Manufacturing Services (HLAAAKAE)

akta.pro secondary industries

Gene Therapy Regulatory, Pharmacovigilance & Clinical Operations Services (HLAAACAM), mRNA & Nucleic Acid Manufacturing Services (mRNA/saRNA/Plasmid DNA) (HLAGAGAC)

Keywords

• DNA medicines
• Immunotherapy vaccines
• HPV therapeutics
• Electroporation delivery
• Biopharmaceutical pipeline

Headquarters

HQ city

Plymouth Meeting

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Product Sales (Future): Pre-revenue clinical stage biotech preparing for commercial launch. Revenue expected from sales of INO-3107 and other DNA medicine candidates upon regulatory approval.
2. Licensing and Milestone Payments: Partnership with ApolloBio for VGX-3100 in Greater China entitles INOVIO to up to $20 million in milestone payments plus tiered royalty payments upon regulatory approval

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Inovio Pharmaceuticals is a clinical-stage biotechnology company developing and preparing to commercialize DNA medicines for HPV-related diseases, cancer, and infectious diseases. Its core offering centers on a proprietary DNA plasmid platform delivered via CELLECTRA electroporation devices, with lead candidate INO-3107 under FDA review (BLA accepted December 2025, PDUFA October 30, 2026) for recurrent respiratory papillomatosis (RRP).

Product overview

INOVIO is a clinical-stage biotechnology company developing DNA medicines using a proprietary platform centered on the CELLECTRA electroporation delivery device. The company's core products include INO-3107 (lead candidate for RRP), VGX-3100 (cervical dysplasia), and various cancer immunotherapies (INO-5401, INO-5412). Their technology platforms include SynCon plasmid design, DNA-encoded Monoclonal Antibodies (DMAbs), DNA-launched Nanoparticles (dLNPs), and DNA-encoded Protein Technology (DPROT). The company has developed next-generation DNA medicines targeting HPV-related diseases, cancer, and infectious diseases, with over 19,000 doses administered to more than 6,000 patients in clinical trials.

Differentiator

Problem solved

Functional benefit

Brands

• SynCon: Proprietary technology using a computer algorithm to engineer precisely designed DNA plasmids that work like software the body's cells can download to learn how to produce a target protein.
• CELLECTRA
• DMAbs

Products and services

• INO-3107 DNA immunotherapy designed to elicit an immune response against HPV-6 and HPV-11 strains that cause Recurrent Respiratory Papillomatosis (RRP), a rare HPV-related disease of the respiratory tract. Lead candidate currently under FDA BLA review.
• VGX-3100 DNA immunotherapy candidate targeting HPV-16/18 E6 and E7 proteins for cervical dysplasia and HPV-associated diseases. Licensed to ApolloBio for Greater China; Phase 3 results reported positive in May 2026.
• CELLECTRA Delivery Devices Proprietary electroporation device designed to deliver DNA medicines into cells using brief electrical pulses to open cell membranes, without chemical adjuvants, lipid nanoparticles, or viral vectors.
• INO-5401 DNA vaccine targeting hTERT (human telomerase reverse transcriptase) for cancer immunotherapy applications.
• INO-4800 DNA vaccine candidate for COVID-19 targeting SARS-CoV-2 virus.
• INO-4700 DNA vaccine targeting Middle East Respiratory Syndrome Coronavirus (MERS-CoV).
• INO-4500 DNA vaccine candidate targeting Lassa virus.
• PENNVAX-GP Synthetic consensus HIV-1 DNA vaccine targeting HIV envelope proteins, being developed with the HIV Vaccines Trial Network.
• INO-5412 DNA immunotherapy candidate for glioblastoma, being evaluated in combination with cadonilimab (Akeso) in Phase II INSIGhT adaptive platform trial sponsored by Dana-Farber Cancer Institute.

Quantifiable outcome

• 72% of RRP patients saw 50-100% reduction in surgeries in first year with INO-3107
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• ApolloBio CorporationcoreOEM/ Whitelabel/ Licensing Partner · 21 May 2026Licensed VGX-3100 to ApolloBio for Greater China in 2018. ApolloBio reported positive Phase 3 results for VGX-3100 in cervical dysplasia. INOVIO entitled to up to $20 million in milestone payments plus tiered royalties upon regulatory approval in China.
• Akeso Inc.coreStrategic or Co-development Partner · 4 March 2026Clinical trial collaboration to evaluate INO-5412 (INOVIO's DNA immunotherapy) combined with Akeso's cadonilimab (PD-1/CTLA-4 bispecific antibody) for glioblastoma treatment. Part of Phase II INSIGhT adaptive platform trial sponsored by Dana-Farber Cancer Institute, with dosing expected H2 2026.
• AstraZenecaminorStrategic or Co-development PartnerCollaborative partnership for development of DNA medicines in unspecified therapeutic areas.
• Coherus BioSciencesminorStrategic or Co-development PartnerPartnership to advance DNA-based cancer immunotherapies combining INO-3113 with LOQTORZ for HPV-associated cancers (announced January 2024).
• Defense Advanced Research Projects Agency (DARPA)minorStrategic or Co-development PartnerGovernment partnership for development of DNA medicines for defense-related applications.
• National Cancer Institute, NIHminorStrategic or Co-development PartnerCollaboration with National Cancer Institute for cancer immunotherapy research and development.
• National Institute of Allergy and Infectious DiseasesminorStrategic or Co-development PartnerGovernment partnership for infectious disease vaccine development.
• Regeneron PharmaceuticalsminorStrategic or Co-development PartnerCollaboration for development of DNA medicines in oncology.
• University of PennsylvaniaminorStrategic or Co-development PartnerAcademic collaboration for DNA medicine research and development.
• The Wistar InstituteminorStrategic or Co-development PartnerAcademic partnership with David B. Weiner, Ph.D. who serves as Executive Vice President and Director of the Vaccine Center at Wistar. Dr. Weiner is an inventor of over 100 patents and pioneer in DNA vaccine technology.
• Plumbline Life SciencesminorStrategic or Co-development PartnerCollaboration for unspecified DNA medicine development.
• HIV Vaccines Trial NetworkminorStrategic or Co-development PartnerCollaboration for HIV vaccine research through PENNVAX-GP candidate.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vical Incorporated: Vical develops plasmid DNA-based vaccines and immunotherapies using a similar nucleic-acid-therapeutic modality as INOVIO. Both target infectious disease and oncology indications via direct in vivo protein expression, though Vical uses polymer-based delivery rather than electroporation.
• Ichor Medical Systems: Ichor develops electroporation-based delivery systems for plasmid DNA and other nucleic acid therapeutics — a direct counterpart to INOVIO's CELLECTRA device. The two companies have historically collaborated and compete for the same DNA-delivery platform positioning.
• OncoSec Medical (now called ImmunoSec): OncoSec combines electroporation delivery with immuno-oncology DNA payloads (similar to INO-5401/INO-5412) and treats solid tumors. Directly comparable in the combination of electroporation device + DNA-based cancer immunotherapy.
• Arcturus Therapeutics: Arcturus develops mRNA-based vaccines and therapeutics using a self-amplifying RNA platform, with infectious disease and rare disease focus (including an approved product, Kostaive). Comparable to INOVIO as a clinical/commercial-stage nucleic-acid therapeutics developer.
• CureVac: CureVac develops mRNA-based vaccines and therapeutics for infectious diseases and oncology. Comparable to INOVIO as a nucleic-acid modality platform focused on prophylactic and therapeutic vaccines, with multiple clinical-stage assets.

Broad incumbents

• Moderna: Moderna is the dominant mRNA therapeutics platform, the closest nucleic-acid therapeutic analog to INOVIO's DNA approach. Operates at vastly larger scale with multiple approved products (Spikevax) and a broader infectious disease / oncology pipeline.
• BioNTech: BioNTech pioneered mRNA-based vaccines (Comirnaty with Pfizer) and is now expanding into cancer immunotherapies. Comparable to INOVIO as a nucleic-acid therapeutics developer targeting oncology and infectious diseases, though at a vastly larger commercial scale.
• Translate Bio (Sanofi): Translate Bio (acquired by Sanofi in 2021) developed mRNA therapeutics for infectious disease and rare diseases — directly comparable in modality to INOVIO. Now embedded in Sanofi's broader vaccine and rare disease franchise.

Emerging players

• Hookipa Pharma: Hookipa develops arenavirus-based vaccine platforms targeting infectious disease and oncology, with a Gilead partnership for HIV. An emerging nucleic-acid-adjacent vaccine company comparable in therapeutic area focus to INOVIO's infectious disease pipeline.

Others

• Merck & Co. Merck is the dominant HPV franchise holder (Gardasil) and the most relevant strategic partner/acquirer profile for INOVIO given multiple ex-Merck executives on INOVIO's board and management. Although not a direct competitor in DNA medicines, Merck defines the competitive standard in HPV therapeutics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/InovioPharma
• YouTubeyoutube.com/channel/UCQieEQ7kjzAE4lLC-aiS1Xw
• Facebookfacebook.com/INOVIOPharmaceuticals
• LinkedInlinkedin.com/company/inovio-pharmaceuticals
• Instagraminstagram.com/inovio_pharma

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds18 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inovio Pharmaceuticals