Madison-based biopharmaceutical firm Dianomi Therapeutics Inc. is working to raise $2 million in debt from investors, according to an amended SEC filing.
Dianomi is developing treatments for inflammatory diseases, and plans to first target osteoarthritis with its Mineral Coated Micropartical technology. The startup was established in 2017, using technology licensed from the Wisconsin Alumni Research Foundation, by Barry Kurokawa, William Murphy, Anna Clements, Kurtis Knapp and Carter Cliff.
Kurokawa, who serves as chief executive officer, is a health care investor who previously served as senior portfolio manager for the health care funds at INVESCO Funds Group, with $1.5 billion in assets under management and more than $100 million in private venture investments. Before that, Kurokawa co-founded and was the principal portfolio manager for health care hedge fund ProMed Management and he also founded health care investment advisory firm BlackRiver Capital Management.
According to the SEC filing, Dianomi has so far raised $185,000 from five investors since the debt round was launched on March 30, 2018.
In the filing, Dianomi writes: “The company shall use the proceeds from the transactions contemplated hereby as working capital for product development and other general corporate purposes. The executive officers may receive compensation from the issuer's investment proceeds.”
Kurokawa declined to comment today about the funding round.