Dianomi Therapeutics Receives $3M from Ligand Pharmaceuticals

Dianomi Therapeutics, Inc., a biopharmaceutical company focused on optimizing the therapeutic profile of proven biologics to improve patient dosing, safety, and efficacy, received an investment from Ligand Pharmaceuticals Incorporated (NASDAQ: LGND).

Ligand paid a total of $3m to Dianomi in exchange for
1) a tiered royalty of two or three percent based on level of net sales for the first five products to be approved using the company’s patented Mineral Coated Microparticle (MCM) technology and
2) a loan convertible into $1m of equity at the next qualified financing.

Ligand will provide technical and scientific advisory assistance to Dianomi for one year. Ligand will not incur any expenses to develop or commercialize any MCM programs.

Dianomi Therapeutics focuses on improving the delivery and efficacy of large and small molecules in the treatment of a variety of diseases and on therapies for inflammatory diseases, such as osteoarthritis and pain.
The MCM technology is a patented formulation technology designed to improve dosing and patient compliance, safety and efficacy and/or extended product life of biologics and small molecules. The technology mimics the ability of human bones and teeth to store and protect biologics, and provides greatly improved, sustained release delivery of active biologics. MCM was developed in the laboratory of William Murphy, PhD, Professor of Biomedical Engineering at the University of Wisconsin, and was patented under the Wisconsin Alumni Research Foundation (WARF) with issued patent coverage through 2037.
Dianomi’s initial focus will be on creating novel formulations of existing drugs in the osteoarthritis and pain space.

Barry Kurokawa, Dianomi’s Chief Executive Officer and Co-Founder, has been a biotech fund manager, including serving as a senior portfolio manager at Invesco, for over 25 years. He has served on the boards of directors of several private and public healthcare companies and currently is a board member of Eirion Therapeutics, Inc. William Murphy, Ph.D., is Dianomi’s Chief Scientific Officer and Co-Founder, and is a Professor of Biomedical Engineering at the University of Wisconsin-Madison. He has published more than 170 scientific manuscripts, filed over 50 patents and co-founded several start-up companies.

The team also includes:
– Martin Ostrowski, JD, COO & GC, Co-Founder,
– Anna Clements, PhD, Sr. Scientist, Co-Founder,
– Kurtis Knapp, PhD, Co-Founder, and
– Carter Cliff, Co-Founder.

FinSMEs

04/02/2019