Deka Biosciences, a Germantown, MD-based biotech company, raised USD20M in Series A funding.
The round was led by Leaps by Bayer and Lumira Ventures with participation from O-Bio (Echo Investment Capital), Viva BioInnovator and Alexandria Venture Investments.
The company intends to use the funds to advance its research and talent acquisition and further expand development of its platform, in particular to file the Investigation New Drug (IND) application for the lead oncology program and advance the lead compound into Phase I clinical trials.
Led by John Mumm, CEO and founder, Deka Biosciences is an early-stage biotech company focused on the development of novel cytokine therapies to treat cancer and inflammatory diseases such as Crohn’s, psoriasis, rheumatoid arthritis and sepsis. Deka has developed disease specific Diakines™ that maximize patient benefits through improved pharmacokinetics / pharmacodynamics (PK/PD) function via targeted delivery of dual and complimentary cytokines to affected tissues or cells. Through the use of precision medicine, the company aims to maximize the impact of its Diakine™ therapeutic proteins by ensuring treatment of patients who will best benefit from and respond to cytokine therapies.