What Decoy Therapeutics does

Decoy Therapeutics is a preclinical-stage biotechnology company developing AI-enabled peptide conjugate antivirals. Its proprietary IMP³ACT platform integrates AI-driven design with rapid synthesis and manufacturing to engineer Designable Multi-Antivirals (D-MAVs) — a new therapeutic category targeting conserved viral mechanisms across virus families. Lead programs include DCOY-COV, a self-administered intranasal pan-coronavirus fusion inhibitor positioned for 5M+ immunocompromised US patients with minimal drug-drug interactions (targeted Phase 1 in 2027), and a discovery-stage Tripledemic (Flu/COVID/RSV) fusion inhibitor addressing viruses responsible for 70%+ of virus-driven lower respiratory tract infections.

The company monetizes through a licensing/royalty-oriented biotech model: it is pre-revenue, raises capital via equity offerings (e.g., $7M underwritten public offering in November 2025 tied to its reverse merger with Salarius Pharmaceuticals), and pursues non-dilutive funding from strategic partners including the Gates Foundation (Global Access Commitment, 2021 grant) and BARDA (Blue Knight QuickFire Challenge awards, 2023 and 2024). It went public on Nasdaq (ticker DCOY, formerly SLRX) via the November 2025 Salarius reverse merger, completed a 1-for-12 reverse stock split in March 2026 to regain Nasdaq compliance, and built a partnership network for clinical execution (hVIVO for Phase 1/2a), AI infrastructure (Quantori/Google Cloud), and pandemic preparedness positioning (BARDA/J&J Innovation, Gates Foundation). Customer segments are pre-commercial; intended end-users are immunocompromised and high-risk respiratory virus patients in the US (10M+ severely immunocompromised) and broader global public health populations served via distributed manufacturing in low- and middle-income countries.

Name

Decoy Therapeutics

Legal name

Decoy Therapeutics, Inc.

Website

https://decoytx.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Decoy Therapeutics is a preclinical-stage biotech using its proprietary IMP³ACT AI-enabled peptide conjugate platform to develop Designable Multi-Antivirals (D-MAVs), targeting respiratory viruses for immunocompromised and high-risk patient populations.

Ownership category

akta.pro rank

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pre-revenue / Preclinical-stage with no commercial product sales: Decoy Therapeutics is a preclinical-stage biotechnology company that does not yet generate product revenue. Capital is raised through equity offerings (e.g., $7M underwritten public offering Nov 2025; $8M public offering mentioned Nov 2025), with strategic interest from BARDA and global health organizations for non-dilutive grant funding and development partnerships.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels10 records

Core offering

Decoy Therapeutics develops Designable Multi-Antiviral (D-MAV) peptide-conjugate therapeutics built on its proprietary IMP³ACT platform, integrating AI-enabled peptide design with rapid synthesis and scalable manufacturing. Its lead preclinical program is DCOY-COV, a self-administered intranasal pan-coronavirus fusion inhibitor for immunocompromised patients, with a discovery-stage Tripledemic (Flu/COVID/RSV) program extending the same platform to broader respiratory virus families.

Product overview

Decoy Therapeutics offers a single integrated platform-plus-programs architecture: the IMP³ACT platform serves as the core technology backbone that integrates AI-enabled peptide design, rapid synthesis, and scalable manufacturing. Built on IMP³ACT, Decoy's branded D-MAV (Designable Multi-Antiviral) product category generates individual therapeutic programs — most notably the lead Pan-Coronavirus Broad-Acting Fusion Inhibitor (DCOY-COV) and the discovery-stage Tripledemic (Flu/COVID/RSV) program — together targeting respiratory viral threats. The platform is augmented by the Google Cloud-native AI-Driven Peptide Design and Molecular Simulation Platform (deployed with Quantori) for computational scale, and by the Peptide-Conjugate Scalable Manufacturing Platform (developed under the Gates Foundation Global Access Commitment) for globally accessible, distributed manufacturing of the resulting peptide-conjugate antivirals.

Differentiator

Problem solved

Functional benefit

Products and services

• DCOY-COV — Pan-Coronavirus Broad-Acting Fusion Inhibitor Decoy's lead self-administered intranasal D-MAV fusion inhibitor for early intervention in 10M+ severely immunocompromised U.S. patients, designed to offer 8–24 hours of prophylactic protection with minimal drug-drug interactions, unlike Paxlovid. Phase 1 trials targeted for 2027.
• Tripledemic Broad Respiratory Antiviral (Flu / COVID / RSV) Discovery-stage inhaled, self-administered single antiviral fusion inhibitor designed to be effective against the "tripledemic" viruses (influenza, COVID-19, RSV) and related pathogens responsible for 70%+ of virus-driven lower respiratory tract infections. Built on the same mechanism of action and computational models as the pan-coronavirus program.

Quantifiable outcome

• Computational throughput increased approximately 25- to 100-fold via AI-driven peptide design platform
• +4 more outcomes

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

15 partnerships are on record, tiered flagship, core, supporting, major and operational.

• hVIVO plcflagshipStrategic or Co-development Partner · 1 June 2026Strategic partnership to advance Decoy's lead D-MAV candidate into Phase 1 first-in-human and Phase 2a human proof-of-concept studies. hVIVO provides clinical development, regulatory strategy, CMC consulting, translational modeling, and human challenge trial expertise across EMA, MHRA, and FDA pathways. Supports IND/CTA filings and early clinical execution for respiratory antiviral programs.
• QuantoricoreTechnology or Integration · 11 March 2026Strategic partnership, supported by funding from Google Cloud, to build a cloud-native AI-driven peptide design and molecular simulation platform integrating advanced protein folding models, molecular dynamics simulations, and AI tools into Decoy's IMP³ACT design engine. Expected to increase computational throughput by approximately 25- to 100-fold.
• Webull FinancialsupportingGTM or Marketing Partner · 5 February 2026Joined Webull Corporate Connect Service Platform (Feb 2026) and participated in Corporate Connect Webinar Series Virtual Conference (Feb 10-11, 2026) for investor relations and shareholder communications via Webull's 24M+ registered users.
• Bill & Melinda Gates FoundationflagshipStrategic or Co-development Partner · 13 January 2026Global Access Commitment Agreement to develop a flexible, globally accessible manufacturing platform for peptide-conjugate antivirals that will enable a distributed network of manufacturing facilities for rapid response to viral outbreaks in low- and middle-income countries. Designed for cost-efficient, rapid scale-up on standard commercial peptide-synthesis machinery and validated using Decoy's intranasal pan-coronavirus fusion inhibitor.
• Texas Biomedical Research InstitutecoreStrategic or Co-development Partner · 1 December 2025Collaboration to test peptide conjugate fusion inhibitors for influenza, including H5N1 avian flu. Evaluation of inhibitor activity across multiple influenza strains leveraging in silico testing and in vitro virology capabilities at Texas Biomed.
• Salarius PharmaceuticalsflagshipStrategic or Co-development Partner · 13 November 2025Merger completed November 13, 2025 creating a combined company focused on developing peptide conjugate therapeutics using Decoy's IMP³ACT platform. Salarius rebranded to Decoy Therapeutics Inc. with Nasdaq ticker DCOY effective January 8, 2026. Combined entity advancing antiviral and cancer pipeline.
• GitHub (GitHub for Startups Program)supportingTechnology or Integration · 19 July 2024Joined GitHub for Startups Program providing a suite of software resources for Decoy's developers on GitHub.
• Johnson & Johnson Innovation (JLABS) / BARDA (Blue Knight)majorStrategic or Co-development Partner · 26 June 2024Blue Knight QuickFire Challenge awardee (Accelerating Project NextGen 2023; Partnering for Preparedness 2024) supporting development of broad-acting antiviral candidates; aligns Decoy with J&J/BARDA pandemic preparedness ecosystem.
• NVIDIA (NVIDIA Inception Program)supportingTechnology or Integration · 26 June 2024Accepted into NVIDIA Inception Program to build Decoy's AI drug discovery platform with NVIDIA GPUs.
• JetBrains (JetBrains for Startups Program)supportingTechnology or Integration · 18 August 2023Joined JetBrains for Startups Program offering free software resources for Decoy's developers.
• Google CloudcoreTechnology or Integration · 28 July 2023Joined Google for Startups Cloud Program gaining $350,000 USD compute credits over 2 years to help build Decoy's AI drug discovery platform; later extended as funding partner for Quantori-built cloud-native AI peptide design platform.
• MIT Startup Exchange (STEX25)supportingOthers · 20 January 2023Joined MIT Startup Exchange STEX25 program to advance broad-acting antivirals; multiple conference appearances and CEO interviews via STEX25 since 2023.
• Creative Destruction LabsupportingOthers · 1 September 2021Entered Creative Destruction Lab program (2021-2022) to accelerate Decoy's peptide conjugate therapies.
• Cambridge Innovation Center (CIC)operationalOthersHeadquarters location at CIC Cambridge (One Broadway, 14th Floor, Cambridge, MA 02142) hosting Decoy's primary office.
• BioLabs @ NYU LangoneoperationalOthersLaboratory/operations space at BioLabs @ NYU Langone (45-18 Ct Square W, Floor 6, Long Island City, NY 11101).

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vir Biotechnology: Clinical-stage immunology company developing broad-spectrum antivirals and antibody therapeutics (including for COVID-19 and influenza). Most direct comparable in the broad-spectrum antiviral thesis, though at a later clinical stage and with an antibody focus versus Decoy's peptide-conjugate D-MAV modality.
• Cocrystal Pharma: Preclinical/clinical antiviral discovery company developing broad-spectrum antiviral candidates for influenza, norovirus, and coronaviruses using structure-based drug design. Comparable as a small-cap antiviral discovery peer with similar broad-spectrum mechanism ambitions, though using small-molecule chemistry rather than peptide conjugates.

Broad incumbents

• Pfizer: Maker of Paxlovid (nirmatrelvir/ritonavir), Decoy's primary competitive comparator in the COVID antiviral space with $2B+/year revenue. Broad incumbent in infectious disease with vast clinical, manufacturing, and commercial resources that any pan-coronavirus entrant must compete against.
• Merck: Marketer of molnupiravir (Lagevrio) and a broad infectious disease pipeline including HIV and HCV antivirals. Established antiviral incumbent with Phase 3 trial infrastructure and global launch capabilities that compete directly with Decoy's target respiratory antiviral indications.
• Gilead Sciences: Antiviral incumbent with leading franchises in HIV, HCV, and remdesivir (Veklury) for COVID-19. Comparable as the dominant commercial antiviral player against which any broad-spectrum antiviral must position; provides a benchmark for valuation upside if Decoy's pipeline reaches commercialization.
• Moderna: mRNA vaccine and therapeutics company with multiple infectious disease programs including next-generation COVID-19 and influenza vaccines. Directly comparable in respiratory antiviral ambitions and is connected to Decoy via Moderna SVP Patricia Gauthie's nomination to Decoy's board.

Emerging players

• Recursion Pharmaceuticals: AI-driven drug discovery platform using high-throughput biology and machine learning to identify novel therapeutic candidates. Comparable as an AI-native biotech platform company, though with a broader therapeutic area focus (oncology, rare disease) and at a more advanced pipeline stage.
• Schrödinger: AI/computational drug discovery platform combining physics-based molecular simulation with machine learning for small-molecule design. Comparable technology stack to Decoy's Quantori/Google Cloud peptide design platform, though applied to small molecules and with a more mature commercial software business.
• Insitro: AI-driven drug discovery platform combining machine learning with high-throughput biology to discover therapeutics. Comparable as an early-stage AI biotech platform company that, like Decoy, integrates cloud-native computational infrastructure with wet-lab biology to build a repeatable drug discovery engine.

Regional players

• Shionogi: Japanese pharmaceutical company that developed Xocova (ensitrelvir), a COVID-19 antiviral approved in Japan. Comparable as another small-molecule antiviral competitor targeting SARS-CoV-2 with a regional rather than global commercial footprint, providing a benchmark for antiviral development paths outside the US.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/decoy-therapeutics-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds2 records

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Decoy Therapeutics