Decoy Therapeutics (DCOY) investor relations material

Company overview and technology

• Developing designable multi-antivirals (DMAVs) that target multiple viruses with a single drug, using AI and machine learning for rapid molecule design and synthesis.

• Lead programs include a pan-coronavirus drug (DCOY-COV) and a multi-virus drug (DCOY-TRI) for flu, RSV, and COVID, with clinical entry targeted for 2027 and 2028, respectively.

• Drugs are self-administered via nasal spray or inhaler, aiming for both treatment and prophylactic use.

• Manufacturing process is patented, reducing cost and time by enabling single-step purification.

• Supported by non-dilutive funding from Gates Foundation, Google, NVIDIA, BARDA, and the EU.

Market opportunity and differentiation

• Addressing large markets: pan-coronavirus program targets a $4.96 billion market; multi-virus program addresses up to 70% of respiratory infections.

• DMAVs target conserved viral fusion cores, reducing risk of resistance and maintaining efficacy across variants, unlike vaccines and antibodies.

• Drugs are affordable to manufacture ($1–$2 per dose), supporting broad access and volume-based strategy.

• Opportunity to fill gaps left by declining vaccine uptake and limitations of current antivirals like Paxlovid.

Clinical and development strategy

• Utilizing human challenge studies for rapid clinical proof-of-concept, with timelines from IND to phase IIa in about one year.

• High probability of success in antivirals post-phase IIa (70% approval rate), with relatively low trial costs and patient numbers.

• Multiple upcoming milestones in the next 12–24 months, including publications, animal data, PK/tox results, and IND filings.

• Actively seeking strategic and academic partnerships to accelerate development.