Code Biotherapeutics, Inc., (Code Bio), a biotechnology company pioneering targeted non-viral delivery of genetic medicines, today announced its upsized and oversubscribed Series A financing of $75 million 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 DMD and T1D toward IND-enabling studies, expand its pipeline and platform applications, and expand its manufacturing and operations.
Brian P. McVeigh, Code Bio Co-Founder, Chairman, and Chief Executive Officer, said:
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. 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 3DNA® platform has demonstrated the potential to deliver various genetic medicines to multiple cell types in a tissue-targeted, re-dosable manner, which enables its use across a broad range of genetic disorders. The 3DNA® platform is designed to fully unlock the potential of genetic medicines and overcome key limitations of other delivery approaches.
As part of the financing, Diana Bernstein, Ph.D., Vice President at Northpond Ventures, will join Code Bio’s board of directors.
Dr. Bernstein, commented:
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. The potential of this technology aligns with our purpose as a science-driven venture capital firm with a mission of supporting innovations that hold promise for patients suffering from serious and life-threatening diseases.
Ed Mathers, General Partner, New Enterprise Associates, said:
We are impressed with the progress that the Code Bio team has made since the initial seed financing round only a year ago. NEA is pleased to remain a strong supporter as the company advances its discovery programs to treat and cure rare and prevalent genetic diseases and leverages the value of its innovative 3DNA® platform.