Boarding Pass“Imagine a scenario where a single drug could alter the course of a patient's battle with cancer”
Boarding Pass
“Imagine a scenario where a single drug could alter the course of a patient's battle with cancer”
Dio Tree has raised $400,000 for its efforts to treat ovarian cancer - something that affects 300,000 women globally each year.
“The backdrop of cancer treatment, especially ovarian cancer, is a challenging one,” explained Dr. Sarit Batsir, the company's CEO . “There's a hunger for fresh ideas as the existing playbook has only a handful of strategies. What's needed is a game-changer, a treatment that doesn't follow the same old script but brings a new perspective to the table.”
Each year, 300,000 new cases of ovarian cancer emerge globally. The company is developing a new drug to treat ovarian cancer but believes that it could expand potentially into breast, lung, pancreas, and more. “The numbers could skyrocket, encompassing millions of patients annually,” she added.
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Right to left: Prof. Osnat Ashur-Fabian, Founder, board member and CSO - Dr. Sarit Batsir, CEO – Dr. Dotan Moskovich, Head of R&D
(Photo: N/A)
You can learn more about the company below.
Company Name: Dio Tree
Sector: Healthcare
Product/Service description:
We are developing a new drug to treat Ovarian Cancer.
Founder Bios:
Prof. Osnat Ashur-Fabian: As the co-founder and CSO of DioTree, Prof. Osnat Ashur-Fabian brings a wealth of experience to our team. With a Ph.D. from the Sackler Faculty of Medicine at Tel-Aviv University, Osnat is currently an Associate Professor at the same institution. She also serves as the Director of Translational Oncology Research at Meir Medical Center, with over 20 years of experience in cancer research. Osnat is the inventor of several patents and has vast experience in commercializing new cancer treatments. Her mindset and knowledge are invaluable in leading our team's efforts to develop novel small-molecule technology to combat high-grade serous ovarian cancer (HGSOC) and improve patient outcomes.
Year of Founding: 2022
Last Investment Round: $400,000
Last Investment Stage: Seed
Date of Last Investment: December 2022
Total investment to date: $400,000
Investors (leading and all): Israeli Innovation Authority and NGT fund
Current number of employees: 3
Open positions: N/A
How was the idea born?
The journey began in the lab of Prof. Bernard Lerer, a psychiatrist who had a unique idea for treating depression using thyroid hormones. He connected with Prof. Mugesh, an accomplished scientist in India, to develop molecules that could tweak thyroid hormone levels in a new way. As fate would have it, their research crossed paths with Prof. Osnat Ashur-Fabian from Meir Hospital, who was investigating a similar approach to tackle cancer. The molecules initially designed to combat depression turned out to be surprisingly effective against cancer cells. With patents filed, the focus shifted to exploring these molecules' impact on cancer in-depth.
What is the need for the product?
The backdrop of cancer treatment, especially ovarian cancer, is a challenging one. There's a hunger for fresh ideas as the existing playbook has only a handful of strategies. What's needed is a game-changer, a treatment that doesn't follow the same old script but brings a new perspective to the table.
How is it changing the market?
Imagine a scenario where a single drug could alter the course of a patient's battle with cancer. That's what this venture aims for – a shift in how we approach treatment that could potentially increase the odds of recovery for more patients.
How big is the market for the product and who are its main customers?
The impact this innovation could have is immense. Every year, around the world, 300,000 new cases of ovarian cancer emerge. And that's just the beginning. This treatment might not stop at ovarian cancer; it could potentially work for breast, lung, pancreas, and more. The numbers could skyrocket, encompassing millions of patients annually.
Does the product exist already? If not - at what stage is it and when is it expected to hit the market?
Right now, the product is in the research and development phase. This is where concepts are tested, and ideas take their first steps toward becoming reality. Clinical trials are on the horizon, possibly within two years, with hopes of making the treatment available to the public in about five years.
Who are the main competitors in this sector and how big are they?
What sets Dio Tree apart is that it's pioneering a path that hasn't been tread before. It's the first of its kind, with no direct competitors. While there are big players like MSD, AstraZeneca, and Roche in the cancer market, they're playing a different game altogether.
What is the added value that the founders bring to the company and the product?
Dio Tree's founders are professors with a passion for making a difference. Their deep knowledge isn't limited to textbooks; it extends to real-world connections and practical insights. Their collective experience forms the bedrock of this endeavor.
What will the money raised during the current investment round be used for?
Money matters, especially when it comes to transforming ideas into reality. The funding collected from ongoing and upcoming rounds will go primarily into research and development. This is the heartbeat of the project – where theories are refined, and breakthroughs are made. A chunk of the investment will also be channeled into building a strong team that's the driving force behind this journey.
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
First published: 09:08, 10.08.23
