DiaKine Therapeutics Raises Seed Funding
BlueTree Allied Angels has invested in Charlottesville based DiaKine Therapeutics. BlueTree Allied Angels is a regional group of accredited investors who desire to invest in regional early-stage companies. DiaKine Therapeutics is a development stage company commercializing drugs designed to cause diabetes to go into remission. Additionally, J. James Frost M.D., Ph.D., M.B.A has been elected as BlueTree’s representative on DiaKine’s Board of Directors.
“The investment by Blue Tree Allied Angels is further validation of DiaKine’s technology and resident expertise,†said Keith D. Ignotz, DiaKIne CEO and President. “As we plan to begin two Phase 2 clinical trials over the next several months, Dr. Frost’s expertise with help us move these groundbreaking drugs from the clinic to the patients who need them.â€
“I am pleased to join the DiaKine team and support them as they bring to market these promising immune-modulating drugs targeting diabetes and its complications,: said Dr. Frost. “The investors at BlueTree see an excellent opportunity to participate in the early stages of what could be several blockbuster drugs elimination the suffering caused by diseases of the auto-immune system such as type 1 diabetes.â€
Dr. Frost received his M.D. and Ph.D. degrees from Washington University: his Ph.D. is in nuclear and radio chemistry. Dr. Frost also obtained an M.B.A. degree from Johns Hopkins University. As a principal investigator, Dr. Frost has generated over $12 million in public and private grants and he has participated as a project leader and co-investigator in research that was awarded an additional $32 million in grant funding in the areas of vivo molecular and biomarker imaging. He has over 100 peer-reviewed articles in scientific journals. He has been the principal investigator and managed 12 Investigational New Drug Applications and numerous Institutional Review Board protocols. Dr. Frost served for 15 years on the Johns Hopkins Institutional Review Board and reviewed human investigation protocols spanning all areas of medical research.
DiaKine is developing a portfolio of immune-modulation drugs with novel anti inflammatory properties. The lead compound, Lisofylline (LSF), has shown to improve cellular mitochondrial function and to reduce interleukin 12 (IL-12) signaling and STAT-$ activation in target cells and tissues. IL-12 and STAT 4 activation are important pathways linked to inflammation and immune damage to insulin producing cells.
