Diakonos Oncology Corp., a Houston, TX-based clinical-stage immuno-oncology company, raised $11.4M in Seed funding.
The round was led by Restem Group Inc., with participation from existing investors.
Led by CEO Mike Wicks, Diakonos Oncology is a clinical-stage biotechnology company focused on innovating cancer immunotherapy by focusing on difficult-to-treat indications, including glioblastoma. Diakonos’ lead asset, DOC1021, is a dendritic cell vaccine (DCV) that initiates a complete cytotoxic TH1 immune response against a patient’s cancer through proprietary double loading technology. Enrollment in the two-year Phase 1 trial was completed in December 2023.
In addition to the lead GBM study, two other clinical trials of Diakonos’ DCV are ongoing for the treatment of pancreatic cancer and angiosarcoma. Diakonos has received Fast Track designations from the FDA for both the GBM and pancreatic cancer programs. The company has also received Orphan Drug Designation for the GBM program.
Diakonos’ DCVs activate cytotoxic TH1 cell signaling pathways that harness a patient’s immune system to target and eliminate cancer cells. This is achieved without any genetic modification of the patient’s immune cells and without the need for toxic preconditioning.
To date, funds have enabled the company to establish manufacturing operations, add key leadership positions, and complete enrollment for the Phase 1 study of DOC1021 in the treatment of glioblastoma (GBM). The additional capital will fund operations into late 2025 and allow Diakonos to initiate the Phase 2 trial in GBM prior to closing a Series A round.
The Phase 2 trial is slated to begin in 4Q24, following the completion of the ongoing Phase 1 study, FDA regulatory interaction, site recruitment and manufacturing readiness.
FinSMEs
27/08/2024