Diakonos Oncology Secures $11.4M Seed Funding

Diakonos Oncology, a Houston-based clinical-stage immuno-oncology company, has successfully raised $11.4 million in seed funding. The financing round was led by Restem Group Inc., with support from existing investors. The funds will accelerate Diakonos' work on groundbreaking cancer immunotherapies.

• Company Focus: Diakonos develops innovative treatments for tough cancers like glioblastoma. Their lead therapy, DOC1021, is a dendritic cell vaccine (DCV) that targets cancer cells without genetic modification.

• Clinical Trials: DOC1021’s Phase 1 trial for glioblastoma was completed in 2023, with Phase 2 starting in late 2024. They also have trials for pancreatic cancer and angiosarcoma.

• Funding Utilization: The recent $11.4 million will fund the company through late 2025, enabling them to initiate Phase 2 trials and further their research efforts before launching a Series A funding round.

• Therapeutic Innovation: Diakonos’ approach uses dendritic cell vaccines that stimulate the immune system without genetic modifications or toxic preconditioning. This method offers a safer, targeted way to treat cancer by leveraging the body’s natural defenses.

With these new funds, Diakonos is poised to make significant progress in the fight against cancer, bringing hope for more effective treatments.