Deka Biosciences has secured funding of $20m in a Series B2 financing round to advance its product pipeline.
MPM BioImpact led the funding round with investors including Leaps by Bayer, Lumira Ventures and O-Bio.
Go deeper with GlobalData
MPM-BioImpact’s Detlev Biniszkiewicz will now join Deka’s board.
Deka will advance the clinical trials of its DK210 (EGFR), subject to approval from the US Food and Drug Administration (FDA) for the company’s investigational new drug (IND) application.
Deka CEO John Mumm stated: “We have only raised $55m to date and are already proceeding to dose our third cohort in our Phase I clinical trial.
See Also:
“Thus far, we have established safety and clear signs of immune activation in our first two cohorts.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“We are encouraged by these results and believe that this combined approach will result in safer, more efficacious and cost-effective immunotherapies.”
The company had previously raised $5m and $20m in seed and Series A financing rounds, respectively.
In 2022, these funds enabled Deka to secure a further $21.5m in its Series B1 funding round, jointly led by Lumira and Leaps by Bayer, and make significant advances.
The company also produced drug products in collaboration with Cytovance Biologics, commenced a Phase I trial and expanded operations into a new plant using these proceeds.
It now intends to progress its development of diakines [disease-targeting scaffolds] and carry out activities that enable the IND filing.
