Diakonos Oncology, a US-based biotechnology company, has received $11.4 million in seed funding to propel its dendritic cell vaccine (DCV) candidate, DOC1021, into a Phase II clinical trial for glioblastoma (GBM). The financing, led by Restem Group, will support operations through the Phase I trial data readout and preparations for the Phase II GBM trial, anticipated to commence in the fourth quarter of this year.
DOC1021: A Novel Approach to Glioblastoma Treatment
DOC1021 is designed to elicit a comprehensive cytotoxic TH1 immune response against cancer cells, utilizing a unique double-loading technology. Diakonos' DCVs are engineered to activate potent cytotoxic TH1 cell signaling pathways, harnessing the patient's immune system to target and eradicate cancer cells more effectively. This approach eliminates the need for preconditioning or genetic modification of immune cells, potentially offering a safer and more accessible treatment option.
Clinical Trial Progress and FDA Designations
Diakonos completed enrollment in its two-year Phase I study of DOC1021 for GBM treatment in December of last year. The FDA has granted Fast Track designation for both the GBM and pancreatic cancer programs, and Orphan Drug designation for the GBM program, underscoring the urgent need for innovative therapies in these areas.
Management Perspective
"We greatly appreciate the support of these investors in sharing our passion for improving the lives of patients suffering from deadly cancers such as glioblastoma," said Mike Wicks, CEO of Diakonos. "The fact that this financing is nearly triple our initial target also shows they share our confidence in the effectiveness of our unique cancer therapy."
Broader Pipeline
In addition to the primary GBM study, Diakonos is conducting two other clinical trials using its DCV for pancreatic cancer and angiosarcoma treatments, expanding the potential applications of its dendritic cell vaccine technology.
