Code Biotherapeutics Launches with $10 Million to Develop Therapies for Debilitating Genetic Diseases
April 21, 2021
Rare Daily Staff
Code Biotherapeutics, which is developing targeted non-viral gene therapies for rare and prevalent genetic diseases, launched with $10 million in seed financing.
4BIO Capital and UPMC Enterprises co-led the seed financing with participation from CureDuchenne Ventures, JDRF T1D Fund, New Enterprise Associates, and Takeda Ventures.
“We have selectively assembled a syndicate of top-tier investors, each bringing specialized areas of expertise and capabilities to the company that will enable us to rapidly deliver on the promise of our novel non-viral gene therapy approach,” said Co-Founder, Chairman, and CEO Brian McVeigh.
Code Bio has developed a proprietary synthetic DNA-based vector, called 3DNA, which has been engineered to overcome many of the challenges inherent with viral-based gene therapies, such as immunogenicity, size, and delivery limitations, re-dosability, and manufacturing complexity. The company is advancing discovery programs in rare diseases, such as Duchenne muscular dystrophy, a debilitating genetic disorder caused by mutations in the dystrophin gene, and type 1 diabetes, an autoimmune disease in which insulin producing cells in the pancreas are mistakenly destroyed by the body’s immune system. The company is also actively engaging in partnership discussions in strategic areas of interest.
Along with the seed financing, Code Bio has appointed several investor representatives to its board of directors: Dima Kuzmin, of 4BIO Capital; Rob Lin, of UPMC Enterprises; Ed Mathers, of New Enterprise Associates; and Victor Stone, of Takeda Ventures.
“The rare disease community values all efforts from the biopharmaceutical community, and we particularly welcome technologies like Code Bio’s 3DNA platform, which aims to overcome current limitations in viral gene delivery,” said CureDuchenne Founder and CEO Debra Miller. “As a mom of a young man with Duchenne, I remain laser focused on how to improve and extend access to promising therapeutic approaches, and I know the same is true for all the parents in the Duchenne and T1D communities.”
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