SOUTH SAN FRANCISCO, California, December 2, 2021 / PRNewswire / – CODA Biotherapeutics, Inc. (“CODA”), a preclinical biopharmaceutical company developing a gene therapy-mediated chemogenetic platform to treat neurological disorders with an initial focus on neuropathic pain and epilepsy, today announced that it has closed the $ 28 million in financing led by Pacira BioSciences, Inc., in collaboration with the company’s existing investors, MPM Capital and Versant Ventures, and a new funding round with Silicon Valley Bank (SVB). As part of the funding, David Pile, Chairman and CEO of Pacira Biosciences, has joined CODA’s board of directors.
“We are delighted that Pacira BioSciences is joining our existing investors in supporting our mission of developing novel chemogenetic therapies for the treatment of neurological disorders for which current treatment options have significant limitations,” said Michel narachi, President and CEO of CODA. âWe have significantly increased our cash balances to fuel the continued advancement of our platform with an initial focus on neuropathic pain and focal epilepsy. Private equity from Pacira BioSciences, one of the world’s leading non-opioid pain management companies, further validates our approach and will help us advance our neuropathic pain therapies into human clinical trials where we hope to demonstrate results transformers for patients. ”
âWe are extremely pleased to support the CODA team and its revolutionary chemogenetic gene therapy platform,â said Mr. Stack. “We believe the CODA approach could transform the neuropathic pain treatment paradigm and help millions of patients.”
About the CODA platform
CODA Biotherapeutics is developing a paradigm-shifting gene therapy approach by deploying a chemogenetic strategy for the treatment of neurological disorders. The Company’s innovative treatment aims to modulate specific neural circuits via adeno-associated virus (AAV) mediated delivery of an inhibitory receptor modified by standard neurosurgical procedures. The receptor is designed to be at rest in transduced cells, but will specifically and dose-dependently inhibit neurons when exposed to a novel small molecule agonist that is orally bioavailable. CODA expects this treatment to produce significantly improved and lasting results while potentially avoiding the unwanted / unwanted effects of currently available treatments.
About Neuropathic Pain and Focal Epilepsy
According to a study published in the Journal of Pain Research, 10% of the American population suffers from neuropathic pain, or about 30 million Americans. Neuropathic pain is caused by damage or disease of the sensory system, resulting in chronic debility and loss of quality of life. Current pharmacological therapies for chronic neuropathic pain, such as opioids, anticonvulsants, and tricyclic antidepressants, are not always effective and may have side effects, including the potential for addiction.
Epilepsy is one of the most common chronic neurological diseases and, according to the Centers for Disease Control, affects more than 65 million people worldwide, including 3.4 million in the United States. Epilepsy is characterized by unpredictable seizures and the term âfocalâ epilepsy. is used to describe seizures that start from a specific location in the brain, usually in a hemisphere. Focal epilepsy accounts for about 60 percent of all epilepsies (National Institute of Neurological Disorders and Stroke). According to the World Health Organization, recurrent seizures disrupt normal brain function, lead to neuronal loss, and lead to cognitive and emotional deficits. Patients suffer from stigma, social isolation, combined with disability, poor academic performance and poor employment outcomes. The Epilepsy Foundation estimates that a third of people with epilepsy live with uncontrollable seizures because no available treatment is effective.
About CODA Biotherapeutics
CODA Biotherapeutics, Inc., is a preclinical biopharmaceutical company developing an innovative gene therapy platform to treat neurological disorders. The company creates the ability to control neurons through its revolutionary chemogenetic-based technology. CODA is located at Southern San Francisco, California. For more information, please visit www.codabiotherapeutics.com.
SOURCE CODA Biotherapeutics, Inc.