Code Bio Raises $75 Million to Develop Therapies for Debilitating Genetic Diseases
June 7, 2022
Code Biotherapeutics, a company pioneering targeted non-viral delivery of genetic medicines, said it raised $75 million in an upsized and oversubscribed series A financing to advance programs to treat and cure rare and prevalent genetic diseases.
Northpond Ventures led the financing round with participation from Amgen Ventures, Hatteras Venture Partners and UCB Ventures alongside existing investors New Enterprise Associates, 4BIO Capital, CureDuchenne Ventures, the JDRF T1D Fund, UPMC Enterprises, and Takeda Ventures.
The funding enables the company to advance its two lead programs in Duchenne muscular dystrophy, a rare, fatal neuromuscular genetic disease, and Type 1 diabetes toward IND-enabling studies, expand its pipeline and platform applications, and expand its manufacturing and operations.
“Patients with rare and prevalent genetic diseases, and their caregivers, are in need of breakthrough treatments that will truly make a difference in their lives,” said Brian McVeigh, co-founder, chairman, and CEO of Code Biotherapeutics. “We’re energized by the confidence these high-caliber, top-tier investors are demonstrating through their support as we drive our discovery programs forward and strive to rapidly deliver on the promise our proprietary synthetic DNA-based, non-viral genetic medicines delivery platform holds.”
Code Bio’s targeted 3DNA non-viral genetic medicine delivery platform is designed to overcome key limitations of other genetic medicine delivery approaches and fully unlock the potential of genetic medicines. The synthetic, multivalent design of the 3DNA platform enables cell specific targeting, the delivery of large genetic payloads, and the potential for re-dosing. Extensive preclinical data have demonstrated that targeted formulations are highly specific and effective at delivering genetic cargo to targeted cells and tissues with no evidence of off-target effects or safety concerns related to the platform seen.
As part of the financing, Diana Bernstein, vice president at Northpond Ventures, will join Code Bio’s board of directors. “Code Bio’s targeted 3DNA delivery platform is positioned to extend the utility of genetic medicines beyond what’s currently possible with viral gene delivery in support of the development of transformative therapies,” said Bernstein.
In February, Code Bio entered a collaboration and option agreement with Takeda valued at up to $2 billion to leverage its 3DNA non-viral genetic medicine delivery platform to design and develop gene therapies for four rare disease indications.
Author: Rare Daily Staff
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