September 28, 2023

Deka Biosciences closes $20 million Series B2 financing led by MPM BioImpact

Maryland-based biotech company Deka Biosciences (“Deka”) today announced that it has successfully closed a USD $20 Million Series B2 financing with a syndicate of life science investors led by MPM BioImpact, and joined by additional investors including Leaps by Bayer, Lumira Ventures, O-Bio (Echo Investment Capital), Viva BioInnovator, Alexandria Venture Investments, Amana Investments, Plains Ventures, ATEM Capital and CEO John Mumm.

The proceeds of the financing will support the advancement of Deka’s pipeline and drug product manufacturing as they continue clinical trials following the receipt of a notice to proceed letter from the FDA for their investigational new drug (IND) application to evaluate DK2¹⁰ (EGFR). Additionally, Detlev Biniszkiewicz, Ph.D. of MPM-BioImpact, will join the Deka board.

“This financing round is a significant milestone. We appear to be the only company that has dissociated IL-2 potency from toxicity,” said Dr. John Mumm, CEO of Deka. “It is gratifying to be supported by investors who recognize the potential of our innovative science to radically improve immunotherapy treatments by evaluating each patient’s immune system and combining biology with the power of precision medicine.