Code Bio Launches with $75M to Disrupt Gene Therapy Space

Genetic sequence

Code Bio, a biotechnology company leading the way in targeted non-viral delivery of generic medicines, closed a $75 million Series A financing round on Tuesday. This new influx of capital will allow Code Bio to continue its cutting-edge work in gene therapy.

The round was co-led by Northpond Ventures and new investors Amgen Ventures, Hatteras Venture Partners and UCB Ventures, as well as prior investors New Enterprise Associates, 4BIO Capital, CureDuchenne Ventures, the JDRF T1D Fund of UPMC Enterprises and Takeda Ventures.

Proceeds from the investments will go towards the advancement of Code Bio’s two lead programs in Duchenne Muscular Dystrophy (DMD) and Type 1 Diabetes (T1D). It will also help progress IND-enabling studies, expansion of its pipeline and platform applications and expansion of its manufacturing and operations.

Historically, DMD and T1D patients have lacked therapeutic options because the large size and complexity of their respective target proteins, dystrophin and insulin, has made them difficult to deliver using existing gene therapy approaches.

The great differentiator for Code Bio is its ability to target various cells and tissues with a high degree of specificity. This is due to the fact that their 3DNA platform is made up of modular, programmable building blocks. The platform has distinct advantages over other delivery methods, such as viruses, which are not as precise or tunable.

Code Bio’s 3DNA platform's goal is to provide various genetic medications to a broad range of tissues via tissue-targeted, re-doseable delivery. The 3DNA platform is intended to fully unlock the potential of genetic medicines and overcome the major barriers faced by other means of delivery.

Re-dosing is particularly important for conditions like DMD, where a patient will eventually develop resistance to a single treatment. This means that patients will likely need multiple courses of treatment throughout their lifetime, which is not possible with current delivery methods.

This funding also includes changes in the executive team. Diana Bernstein, Ph.D., vice president at Northpond Ventures, will become a board member of Code Bio. She said the targeted 3DNA delivery platform is positioned to extend the utility of genetic medicines past what viral gene therapy can accomplish today in support of the development of transformative therapies.

Code Bio Co-Founder, Chairman and CEO Brian P. McVeigh stated the company is "energized" by the confidence these high-caliber, top-tier investors are demonstrating through their support as it strives to rapidly deliver on the promise of its proprietary synthetic DNA-based, non-viral genetic medicines delivery platform.

This is an impressive show of support for the young company that was founded in 2018. Many in the industry will be keeping a close eye on how Code Bio progresses and if it is able to follow through on the promises of its 3DNA platform.

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