What does Diakonos Oncology do?
Diakonos Oncology specializes in developing next-generation cancer immunotherapies. The company leverages a proprietary patient-derived dendritic cell platform to create innovative treatments, most notably its first-in-class therapy, dubodencel (DOC1021), which combines tumor lysate with amplified tumor-derived mRNA.
How much did they raise?
The company closed a $20M private placement of Simple Agreements for Future Equity (SAFE). This round, supported by new investors Baylor College of Medicine, the Brain Tumor Investment Fund, and the Buttonwood Titan QC Fund, also saw participation from existing shareholders including CEO Mike Wicks. The financing is intended as a bridge to a planned Series A round later this year.
What are their plans for the money?
Diakonos Oncology plans to use the funds to accelerate its Phase 2 glioblastoma trial for dubodencel and to expand its clinical portfolio to include other aggressive cancers, such as refractory melanoma. These efforts aim to address critical unmet needs in cancer treatment and pave the way for innovative immunotherapy solutions.
What have they achieved so far?
Building on the momentum from an $11.4M seed financing completed last year, the company has made significant progress in its pre-clinical and early clinical development phases, positioning it strongly for future research and commercialization efforts.
