Gene therapy developer Code Biotherapeutics announced today that it launched with $10 million in seed financing.
Hatfield, Pa.-based Code Biotherapeutics develops 3DNA, a proprietary synthetic DNA-based vector designed to deliver genes of all sizes to multiple cell types as a re-dosable therapy, according to a news release.
The company said it is focused on developing a pipeline of novel gene therapies to treat rare genetic diseases, with discovery programs for Duchenne Muscular Dystrophy (DMD) and type 1 diabetes currently being advanced.
Additionally, Code Biotherapeutics is actively engaging in partnership discussions to address strategic areas of interest, the company noted.
Seed financing for the launch was provided by co-leaders 4Bio Capital and UPMC Enterprises, with participation from CureDuchenne Ventures, JDRF T1D Fund, New Enterprise Associates, and Takeda Ventures.
“This is a very exciting day for all of us at Code Bio,” Code Biotherapeutics co-founder, chairman & CEO Brian P. McVeigh said in the release. “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.
“We are thrilled to partner with them as we continue to drive our discovery programs forward and strive to achieve important breakthroughs for patients with rare and prevalent genetic diseases.”